Boston’s housing market strongly favored sellers in August, according to new data from Zillow.

The Zillow Home Value index for homes in Boston sits at $720,695, marking 1% yearly growth.

The share of listings with a price cut was just 19.0%. Meanwhile, homes spent a median of 21 days on the market.

The Boston metro area received a “strong seller” designation on Zillow’s Market Heat Index.

“The Northeast and the San Francisco Bay Area remain firmly in favor of sellers,” researchers said. “Competition is strongest in Buffalo, Hartford, San Francisco, San Jose and Boston. In these supply-constrained regions, inventory remains far below pre-pandemic averages, keeping the market tilted toward sellers.”