The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) decreased to 6.83% from 6.84%.
Cappelli estimated that with the NYPA project, the total Hamilton Green development cost will be approximately $900 million.
Pending sales in the Northeast increased incrementally even though home price growth in the region has been the strongest in the country.
The report noted that in Westchester County, the luxury segment remains particularly strong, with significant buyer activity in the $2-million-and-above category.
RYE BROOK—The real estate market across Westchester, Putnam and Dutchess counties continued to show signs of resilience and stability through the second quarter, according to the Houlihan Lawrence Second Quarter 2025 Westchester, Putnam, and Dutchess Market Report released on July 8.
The report noted that in Westchester County, the luxury segment remains particularly strong, with significant buyer activity in the $2-million-and-above category and continued interest across most towns. Demand for homes with updated interiors, desirable locations, and proximity to transportation has remained consistent. Despite higher mortgage rates, many buyers remain eager to act quickly when quality properties become available, the report stated.
According to the report, inventory challenges persist throughout the region, with Westchester facing a particularly tight supply, which has kept prices elevated, especially for homes in well-established communities. Buyers continue to prioritize homes with modern updates, outdoor space, and convenient access to amenities, and well-priced listings continue to attract multiple offers.
It’s a more mixed picture for the markets in Putnam and Dutchess counties. Homes in the $1-million to $2 -million segment continue to see healthy buyer interest, especially among those seeking more space or a greater value proposition than neighboring counties. However, properties priced above $2 million have experienced longer days on the market, reflecting increased caution as buyers contend with affordability challenges and elevated borrowing costs. Still, homes that combine acreage, privacy, and thoughtful updates continue to draw buyer attention.
The trend of relocation from New York City and surrounding metro areas remains a significant factor, as more buyers continue to pursue properties outside the city. Hybrid work models have reinforced this trend, bringing new energy to suburban and rural markets alike.
“Looking forward, we anticipate competitive conditions in Westchester to persist, particularly for updated, well-located properties in desirable towns. In Putnam and Dutchess, homes that are priced appropriately and meet buyer expectations for space and condition will continue to move, though the higher-end market is likely to remain more measured,” said Liz Nunan, President & CEO of Houlihan Lawrence. “With demand for quality homes holding firm and inventory levels tight, the market in these counties is expected to remain active as we move through the second half of 2025,” Nunan added.
Homes Sold: Down 0.5%
Median Sale Price: Up 11.4%
New York City Gateway
(Mount Vernon, New Rochelle, Pelham, and Yonkers)
Homes Sold: Up 3%
Median Sale Price: 0%
Lower Westchester
(Bronxville, Eastchester, Edgemont, Scarsdale, and Tuckahoe)
Homes Sold: Down 3%
Median Sale Price: Up 6%
Rivertowns
(Ardsley, Dobbs Ferry, Hastings, Mount Pleasant, Pleasantville, Tarrytown, Briarcliff Manor, Elmsford, Irvington Ossining, and Pocantico Hills)
Homes Sold: Up 1%
Median Sale Price: Up 12%
Greater White Plains
(Greenburgh, Valhalla and White Plains)
Homes Sold: Down 28%
Median Sale Price: Up 14%
Sound Shore
(Blind Brook, Harrison, Mamaroneck, Port Chester, Rye City and Rye Neck
Homes Sold: Down 3%
Median Sale Price: Up 8%
Northern Westchester
(Bedford, Byram Hills, Chappaqua, Katonah-Lewisboro, North Salem and Somers)
Homes Sold: Up 6%
Median Sale Price: Down 1%
Northwest Westchester
(Croton-on-Hudson, Hendrick Hudson, Lakeland, Peekskill and Yorktown)
Homes Sold: Down 7%
Median Sale Price: Up 10%
(Brewster, Carmel, Garrison, Haldane, Lakeland, Mahopac and Putnam Valley)
Homes Sold: Up 14%
Median Sale Price: Up 9%
Homes Sold: Down 8.6%
Median Sale Price: Down 0.1%
Southwest Dutchess
(Beacon, East Fishkill, Fishkill, La Grange, Poughkeepsie, City of Poughkeepsie and Wappinger)
Homes Sold: Down 15%
Median Sale Price: Up 3%
Southeast Dutchess
(Beekman, Dover, Pawling and Union Vale)
Homes Sold: Down 30%
Median Sale Price: Up 23%
Northwest Dutchess
(Clinton, Hyde Park, Milan, Pleasant Valley, Red Hook and Rhinebeck)
Homes Sold: Down 12%
Median Sale Price: Down 11%
Northeast Dutchess
(Amenia, Northeast, Pine Plains, Stanford and Washington)
Homes Sold: Up 55%
Median Sale Price: 0%
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) decreased to 6.83% from 6.84%.
Cappelli estimated that with the NYPA project, the total Hamilton Green development cost will be approximately $900 million.
Pending sales in the Northeast increased incrementally even though home price growth in the region has been the strongest in the country.
The court also ruled that New York’s prohibition on the installation of fossil-fuel equipment does not concern the “energy use” of covered products as defined by EPCA and is therefore not preempted.
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