The luxury real estate market across Westchester, Fairfield, Columbia, Putnam, and Dutchess counties remained resilient throughout the second quarter of 2025, underscoring the lasting appeal of quality properties with space, privacy, and desirable locations, according to the Houlihan Lawrence Q2 2025 Luxury Market report.
“Despite elevated borrowing costs, buyers continue to show strong demand for properties priced at $2 million and above, with the upper end of the market holding steady, particularly for well-maintained, turnkey homes,” said Liz Nunan, President & CEO of Houlihan Lawrence.
The $3 million-and-above category continues to perform well in Westchester County, fueled by low inventory and steady interest from both local buyers and those relocating from metro areas. Buyers are prioritizing homes that offer updated interiors, outdoor amenities, and proximity to transportation and village centers.
Led by Greenwich, coastal towns in Fairfield County remain focal points for luxury demand, especially among buyers seeking both primary homes and weekend retreats. Updated properties near beaches, town centers, and marinas are moving quickly, with well-priced listings seeing competitive bidding scenarios.
Columbia County has quietly emerged as a sought-after luxury destination for buyers drawn to privacy, land, and a slower-paced lifestyle. Ancram, Canaan, and Chatham are experiencing steady demand for high-end properties, particularly those that offer modern updates while preserving the area’s character.
The luxury segment in Putnam and Dutchess counties posted mixed results for the second quarter. The $1 million to $2 million market remains active, with buyers attracted to larger homes and properties with acreage that deliver value relative to neighboring counties. For properties priced above $2 million, activity is more selective, as buyers weigh affordability and borrowing costs against lifestyle considerations. Homes that combine privacy, thoughtful renovations, and outdoor space continue to appeal to discerning buyers, while properties requiring substantial work or carrying ambitious pricing are seeing longer days on the market.
The report noted that the ultra-luxury segment, above $10 million, remains highly selective across all counties. Buyers at this level expect architectural significance, privacy, and exceptional locations, with well-maintained, move-in-ready estates seeing steady results.
“Looking to the second half of 2025, the luxury market is expected to remain competitive for homes that align with buyer expectations. Modern updates, desirable locations, and outdoor living features remain top priorities,” said Nunan. “Broader economic conditions and interest rate fluctuations may influence buyer behavior, particularly in higher price points, but demand for quality homes in lifestyle-driven markets across the region should continue to support stability and healthy activity in the months ahead,” she added.
Q2 2025 LUXURY MARKETS AT A GLANCE (Q2 2025 vs Q2 2024)
Westchester County Luxury Home Sales /$2M and Higher
Homes Sold: Up 13.7%
Median Sale Price: Up 6.1%
Highest Sale Price: $13,500,000 Harrison
Putnam and Dutchess County Luxury Home Sales /$1M and Higher
Homes Sold: Up 5.1%
Median Sale Price: Down 7.9%
Q1 Highest Sale Price Putnam: $3,700,000 Mahopac
Q1 Highest Sale Price Dutchess: $2,500,000 Amenia
Greenwich Luxury Home Sales /$3M and Higher
Homes Sold: Up 29.4%
Median Sale Price: Up 1.9%
Q1 Highest Sale Price: $16,175,000
Darien Luxury Home Sales /$2M and Higher
Homes Sold: Up 120.8%
Median Sale Price: Up 1.6%
Q1 Highest Sale Price: $7,700,000
New Canaan Luxury Home Sales /$2M and Higher
Homes Sold: Up 13.9%
Median Sale Price: Up 17.4%
Q1 Highest Sale Price: $6,750,000
Rowayton Luxury Home Sales /$2M and Higher
Homes Sold: Down 36.4%
Median Sale Price: Down 25%
