Homebuying activity in the counties directly north of New York City hummed along in the second quarter of 2025 — even as prices and mortgage rates remain elevated, and homes available for sale have been hard to come by, real estate agents said.
Median home sale prices grew 9% to $600,000 in Putnam County in the second quarter compared to a year prior, according to a market report from Houlihan Lawrence — a real estate brokerage that focuses on New York City's northern suburbs. Prices were flat year over year in Dutchess County at $490,000, while prices grew 11.4% to $1.07 million in Westchester County, Houlihan Lawrence said.
Prices in Westchester are rising, particularly as competition among buyers heats up, said Kori Sassower, a Westchester agent for Compass.
"Chappaqua and Harrison are the two towns having a moment right now," she told Homes.com in an interview. "Chappaqua came in hot this year with a lot of inventory, so buyers flocked there. Most homes are going way over the asking price."
Overall, though, Westchester is facing "a particularly tight supply" of homes, according to Houlihan Lawrence, a trend that will dictate how buying and selling shakes out for the rest of the year.
"Looking forward, we anticipate competitive conditions in Westchester to persist, particularly for updated, well-located properties in desirable towns," Houlihan Lawrence CEO Liz Nunan said in a statement.
The southern part of Westchester is mostly a bedroom community for New Yorkers who have jobs in the Big Apple but don't want to live in the city. Sections of Yonkers, Mount Vernon, New Rochelle, Eastchester and Mamaroneck give Westchester residents a quick commute into the Bronx or Manhattan but a tad more space in their living arrangements.
Within Harrison, New York, the desirable neighborhoods include Sunnyridge and West Harrison, Sassower said. Median sales prices in the Harrison-Mamaroneck-Port Chester area grew 8% year over year in June, Houlihan Lawrence said.
Homebuyers in Putnam and Dutchess counties have been a bit pickier, the Houlihan Lawrence report suggested. Homes priced between $1 million and $2 million are getting healthy buyer interest, but properties priced higher tend to sit on the market longer, the brokerage said.
"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," Nunan said. "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."