Is Your Dream Home Slipping Away? Houlihan Lawrence Unveils Shocking 2025 Market Trends!

The recently released Houlihan Lawrence Full Year 2025 Luxury Market Report reveals a vibrant luxury real estate market in the Northeast, particularly in Westchester, Putnam, Dutchess counties, and Connecticut. The report indicates that demand for high-end properties remains strong despite ongoing economic uncertainties.

Coinciding with the release of the luxury sales report, the Houlihan Lawrence Full Year 2025 Westchester-Putnam-Dutchess Market Report also highlights significant activity outside the luxury segment. In Westchester County, sales of luxury homes priced at $2 million and above surged by 17.5% year over year, showcasing a competitive landscape where properties routinely traded for an average of 102% of their listing price and spent an average of just 54 days on the market.

At the higher end of this market, sales of homes priced at $5 million and above nearly doubled, reflecting strong confidence among affluent buyers. This trend underscores a broader resilience in the luxury market, where buyers remain willing to invest significantly in prime real estate.

In neighboring Putnam and Dutchess Counties, the luxury market also showed impressive growth. Sales of homes priced at $1 million and above increased by 18.4%, accompanied by a decline in the average days on the market, indicating a robust demand for high-end properties in these regions as well. Greenwich, CT, distinctively affirmed its status as a premier luxury market, with homes priced at $3 million and above seeing a 15.6% increase in sales. Notably, transactions above $10 million more than doubled, highlighting the ongoing allure of this exclusive market.

In Darien and New Canaan, luxury properties priced at $2 million and above saw incredible growth rates of 47.9% and 26.7%, respectively, with the highest sale in Darien reaching an astonishing $26,500,000 and the highest sale in Greenwich peaking at $40 million.

“Looking ahead to 2026, the outlook for the luxury market remains positive, with sales activity and pricing expected to continue their upward trajectory. We remain dedicated to guiding our clients with thoughtful insight, discretion, and unparalleled expertise at every stage of their real estate journey,” stated Liz Nunan, president and CEO of Houlihan Lawrence.

Despite limited inventory for much of the year, the Houlihan Lawrence report emphasizes that the high demand illustrates the region’s enduring appeal. In Westchester County, total single-family home sales increased by 4.6% year over year, totaling 4,624 transactions, with the average sale price rising nearly 6% to $1,329,808. Homes sold at an average of 103.5% of their listing price, a clear indicator of the market's competitiveness.

The condominium market remained steady, with 1,200 condos sold in Westchester during 2025, virtually unchanged from 1,201 in 2024. The median sale price for condos increased by 5.9% to $529,500. Co-op sales also rose by 5.2% to 1,587 transactions, with a median sale price up 8.8% at $225,000.

In Putnam County, single-family home sales climbed by 15% year over year, resulting in 814 transactions. Dutchess County, however, saw a modest decline of 4.3% in single-family home sales, totaling 1,938 transactions, although the average sale price increased to $596,045.

As the luxury market continues to thrive amidst shifting economic conditions, the data suggests a promising outlook for 2026 and beyond, with both buyers and sellers poised to navigate an ever-changing landscape.