FULL YEAR 2025
FULL YEAR 2025 MARKET REPORT
EXECUTIVE SUMMARY The luxury real estate market in 2025 remained strong and dynamic across our communities north of New York City, reflecting sustained demand for exceptional homes in the region’s most sought-after locations. In Westchester County, luxury home sales priced at $2 million and above increased 17.5% year over year. Competitive conditions persisted throughout the year, with properties trading at an average of 102% of list price and an average time on market of just 54 days. Notably, activity at the highest end of the market accelerated significantly, as sales of homes priced at $5 million and above nearly doubled, underscoring continued confidence among top-tier buyers. Putnam and Dutchess Counties also recorded robust luxury market performance. Sales of homes priced at $1 million and above rose 18.4%, while average days on market declined to 92 and sale-to-list price ratios improved. These trends reflect the enduring appeal of the region for buyers seeking space, value, and a refined suburban lifestyle. In Connecticut, Greenwich continued to distinguish itself as a premier luxury market. Full-year sales of homes priced at $3 million and above increased 15.6% and notably, transactions above $10 million more than doubled. In Darien and New Canaan, luxury sales priced at $2 million and above rose 47.9% and 26.7%, respectively. 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. We extend our deepest gratitude to our agents, clients, and the communities we serve. We wish you and your families a joyful, healthy, and prosperous 2026. With Warm Regards, Liz Nunan President and CEO
LUXURY MARKET REPORT 4th QUARTER 2025
WESTCHESTER COUNTY LUXURY HOME SALES | $2 M AND HIGHER Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
131
107
22.4%
739
629
17.5%
TOTAL DOLLAR VOLUME
$425,248,545
$328,720,920
29.4%
$2,261,144,219
$1,892,898,899
19.5%
MEDIAN SALE PRICE
$2,625,000
$2,700,000
-2.8%
$2,680,000
$2,685,000
-0.2%
AVERAGE PRICE PER SQUARE FOOT
$615
$617
-0.3%
$634
$629
0.8%
AVERAGE DAYS ON MARKET
76
82
-7.3%
54
53
1.9%
% SALE PRICE TO LIST PRICE
98.7%
98.7%
0.0%
102.0%
101.2%
0.8%
HOMES SOLD
PUTNAM AND DUTCHESS COUNTY LUXURY HOME SALES | $1 M AND HIGHER Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
46
45
2.2%
187
158
18.4%
TOTAL DOLLAR VOLUME
$78,309,768
$89,502,615
-12.5%
$315,803,884
$326,154,262
-3.2%
MEDIAN SALE PRICE
$1,423,750
$1,500,000
-5.1%
$1,350,000
$1,465,000
-7.8%
AVERAGE PRICE PER SQUARE FOOT
$452
$524
-13.7%
$475
$520
-8.7%
AVERAGE DAYS ON MARKET
91
108
-15.7%
92
99
-7.1%
% SALE PRICE TO LIST PRICE
98.3%
95.4%
3.0%
99.5%
97.2%
2.4%
HOMES SOLD
GREENWICH, CT LUXURY HOME SALES | $3 M AND HIGHER Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
70
54
29.6%
289
250
15.6%
TOTAL DOLLAR VOLUME
$491,017,880
$309,630,500
58.6%
$1,841,670,105
$1,357,847,302
35.6%
MEDIAN SALE PRICE
$4,977,500
$4,525,000
10.0%
$4,900,000
$4,500,000
8.9%
$1,079
$917
17.7%
$1,009
$914
10.4%
AVERAGE DAYS ON MARKET
96
88
9.1%
73
88
-17.0%
% SALE PRICE TO LIST PRICE
96.7%
99.9%
-3.2%
97.5%
99.2%
-1.7%
HOMES SOLD
AVERAGE PRICE PER SQUARE FOOT
Source: Onekey MLS and Greenwich MLS.
LUXURY MARKET REPORT 4th QUARTER 2025
DARIEN LUXURY HOME SALES | $2 M AND HIGHER Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
20
24
-16.7%
142
96
47.9%
TOTAL DOLLAR VOLUME
$98,608,500
$81,945,000
20.3%
$534,004,755
$354,729,600
50.5%
MEDIAN SALE PRICE
$3,300,000
$2,950,000
11.9%
$3,330,000
$3,398,500
-2.0%
AVERAGE PRICE PER SQUARE FOOT
$901
$713
26.4%
$787
$696
13.1%
AVERAGE DAYS ON MARKET
35
42
-16.7%
28
44
-36.4%
% SALE PRICE TO LIST PRICE
100.0%
104.2%
-4.0%
103.4%
101.8%
1.6%
Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
11
9
22.2%
29
29
0.0%
TOTAL DOLLAR VOLUME
$30,587,500
$28,462,000
7.5%
$81,467,500
$88,309,000
-7.7%
MEDIAN SALE PRICE
$2,700,000
$2,895,000
-6.7%
$2,540,000
$2,800,000
-9.3%
AVERAGE PRICE PER SQUARE FOOT
$794
$1,008
-21.2%
$820
$900
-8.9%
AVERAGE DAYS ON MARKET
38
30
26.7%
32
38
-15.8%
% SALE PRICE TO LIST PRICE
101.2%
102.4%
-1.2%
100.6%
100.6%
0.0%
HOMES SOLD
ROWAYTON LUXURY HOME SALES | $2 M AND HIGHER
HOMES SOLD
NEW CANAAN LUXURY HOME SALES | $2 M AND HIGHER Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
38
26
46.2%
152
120
26.7%
TOTAL DOLLAR VOLUME
$148,717,160
$86,856,000
71.2%
$553,081,035
$386,938,083
42.9%
MEDIAN SALE PRICE
$3,153,580
$2,775,000
13.6%
$3,100,000
$2,827,500
9.6%
AVERAGE PRICE PER SQUARE FOOT
$619
$525
17.9%
$593
$521
13.8%
AVERAGE DAYS ON MARKET
51
56
-8.9%
45
55
-18.2%
% SALE PRICE TO LIST PRICE
98.1%
100.7%
-2.6%
100.9%
101.1%
-0.2%
HOMES SOLD
Source: Smart MLS.
LUXURY MARKET REPORT 4th QUARTER 2025
WESTCHESTER COUNTY LUXURY HOME SALES Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$2,000,000 - $2,999,999
86
64
34%
473
419
12%
$3,000,000 - $4,999,999
33
37
-10%
218
183
19%
$5,000,000 - $9,999,999
9
5
80%
44
25
76%
$10,000,000 and up
3
1
200%
4
2
100%
PUTNAM AND DUTCHESS COUNTY LUXURY HOME SALES Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$1,000,000 - $1,999,999
39
34
14%
155
114
36%
$2,000,000 and up
7
11
-36%
32
44
-27%
Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$3,000,000 - $3,999,999
20
18
11%
85
89
-4%
$4,000,000 - $4,999,999
15
17
-11%
68
65
4%
$5,000,000 - $9,999,999
23
15
53%
98
79
24%
$10,000,000 and up
12
4
200%
38
17
123%
GREENWICH, CT LUXURY HOME SALES
Source: Onekey MLS and Greenwich MLS
LUXURY MARKET REPORT 4th QUARTER 2025
DARIEN LUXURY HOME SALES Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$2,000,000 - $2,999,999
8
12
-33%
63
36
75%
$3,000,000 - $4,999,999
9
10
-10%
62
46
34%
$5,000,000 - $9,999,999
2
2
0%
15
13
15%
$10,000,000 and up
1
0
Not Valid
2
1
100%
Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$2,000,000 - $2,999,999
8
5
60%
20
17
17%
$3,000,000 - $4,999,999
3
3
0%
8
11
-27%
$5,000,000 - $9,999,999
0
1
-100%
1
1
0%
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
Q4 2025
Q4 2024
% CHANGE
FULL YEAR 2025
FULL YEAR 2024
% CHANGE
$2,000,000 - $2,999,999
16
16
0%
71
70
1%
$3,000,000 - $4,999,999
15
7
114%
59
37
59%
$5,000,000 - $9,999,999
6
3
100%
21
13
61%
$10,000,000 and up
1
0
Not Valid
1
0
Not Valid
ROWAYTON LUXURY HOME SALES
NEW CANAAN LUXURY HOME SALES
Source: Smart MLS.
LUXURY MARKET REPORT 4th QUARTER 2025
TOP NEW YORK LUXURY MARKETS
WESTCHESTER COUNTY LUXURY HOME SALES | $2M AND HIGHER SCHOOL DISTRICT
# OF SALES
MEDIAN LUXURY SALE PRICE
HIGHEST SALE PRICE
SCARSDALE
20
$2,559,500
$7,087,500
BEDFORD
17
$3,400,000
$6,100,000
HARRISON
13
$2,812,500
$10,750,000
CHAPPAQUA
12
$2,648,755
$3,000,000
MAMARONECK
12
$3,125,000
$10,000,000
BYRAM HILLS
9
$2,625,000
$11,300,000
RYE CITY
7
$2,702,000
$9,750,000
BRONXVILLE
4
$3,000,000
$3,300,000
IRVINGTON
4
$3,069,000
$3,900,000
KATONAH LEWISBORO
4
$2,150,000
$2,635,000
PELHAM
4
$2,512,500
$3,306,000
RYE NECK
3
$2,550,000
$2,557,000
BLIND BROOK
2
$2,685,000
$2,975,000
EDGEMONT
2
$2,117,500
$2,185,000
NEW ROCHELLE
2
$2,342,500
$2,510,000
# OF SALES
MEDIAN LUXURY SALE PRICE
HIGHEST SALE PRICE
HALDANE
5
$1,145,000
$3,411,000
BREWSTER
4
$1,258,001
$1,443,618
MAHOPAC
4
$1,325,000
$1,600,000
CARMEL
1
$1,150,000
$1,150,000
PUTNAM VALLEY
1
$1,685,000
$1,685,000
PUTNAM COUNTY LUXURY HOME SALES | $1M AND HIGHER SCHOOL DISTRICT
DUTCHESS COUNTY LUXURY HOME SALES | $1M AND HIGHER TOWN/CITY
# OF SALES
MEDIAN LUXURY SALE PRICE
HIGHEST SALE PRICE
RHINEBECK
4
$1,362,500
$5,250,000
PAWLING
2
$1,740,000
$2,150,000
RED HOOK
2
$1,115,000
$1,200,000
MILLBROOK
2
$4,075,000
$6,250,000
BEACON
1
$1,410,000
$1,410,000
FISHKILL
1
$1,595,000
$1,595,000
Source: Onekey MLS.
LUXURY MARKET REPORT 4th QUARTER 2025
TOP CONNECTICUT LUXURY MARKETS
GREENWICH, CT LUXURY HOME SALES | $3M AND HIGHER TOWN/CITY
# OF SALES
MEDIAN LUXURY SALE PRICE
HIGHEST SALE PRICE
GREENWICH
44
$5,375,000
$40,000,000
RIVERSIDE
13
$5,000,000
$12,900,000
OLD GREENWICH
12
$4,485,500
$9,373,000
COS COB
1
$3,200,000
$3,200,000
SOUTHERN FAIRFIELD COUNTY, CT LUXURY HOME SALES | $2M AND HIGHER TOWN/CITY
# OF SALES
MEDIAN LUXURY SALE PRICE
HIGHEST SALE PRICE
WESTPORT
43
$3,150,000
$24,210,000
NEW CANAAN
38
$3,153,580
$10,025,000
FAIRFIELD
25
$2,700,000
$7,200,000
DARIEN
20
$3,300,000
$26,500,000
NORWALK
11
$2,700,000
$3,715,000
STAMFORD
9
$2,349,000
$4,500,000
WESTON
7
$2,900,000
$3,350,000
RIDGEFIELD
5
$2,000,000
$2,675,000
WILTON
3
$2,220,000
$2,395,000
BROOKFIELD
2
$2,764,957
$3,079,915
EASTON
1
$2,577,000
$2,577,000
NEW FAIRFIELD
1
$3,150,000
$3,150,000
Source: Greenwich MLS and Smart MLS
LUXURY MARKET REPORT 4th QUARTER 2025 SUPPLY/DEMAND SNAPSHOT SOUTHERN WESTCHESTER COUNTY | $2M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$2,000,000 - $2,999,999
9
31
1
39
35
1
-76.9%
-11.4%
$3,000,000 - $4,999,999
25
23
1
44
17
3
-43.2%
35.3%
$5,000,000 - $9,999,999
20
10
2
16
4
4
25.0%
150.0%
$10,000,000 and up
7
1
7
2
0
Not Valid
250.0%
0.0%
PRICE RANGE
NORTHERN WESTCHESTER COUNTY | $2M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$2,000,000 - $2,999,999
14
13
1
14
13
1
0.0%
0.0%
$3,000,000 - $4,999,999
17
8
2
11
6
2
54.5%
33.3%
$5,000,000 - $9,999,999
9
4
2
4
2
2
125.0%
100.0%
$10,000,000 and up
3
0
Not Valid
4
0
Not Valid
-25.0%
0.0%
PRICE RANGE
PUTNAM COUNTY | $1M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
PRICE RANGE
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$1,000,000 - $1,999,999
12
7
2
20
8
3
-40.0%
-12.5%
$2,000,000 and up
8
3
3
10
1
10
-20.0%
200.0%
DUTCHESS COUNTY | $1M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
PRICE RANGE
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$1,000,000 - $1,999,999
41
21
2
45
12
4
-8.9%
75.0%
$2,000,000 and up
41
6
7
33
8
4
24.2%
-25.0%
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
Source: Onekey MLS.
LUXURY MARKET REPORT 4th QUARTER 2025 SUPPLY/DEMAND SNAPSHOT GREENWICH, CT | $3M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$3,000,000 - $3,999,999
5
10
1
13
7
2
-61.5%
42.9%
$4,000,000 - $4,999,999
5
12
1
12
6
2
-58.3%
100.0%
$5,000,000 - $9,999,999
17
16
1
26
12
2
-34.6%
33.3%
$10,000,000 and up
13
7
2
23
3
8
-43.5%
133.3%
PRICE RANGE
DARIEN | $2M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$2,000,000 - $2,999,999
2
4
1
0
3
0
0.0%
33.3%
$3,000,000 - $4,999,999
3
2
2
5
4
1
-40.0%
-50.0%
$5,000,000 - $9,999,999
2
0
Not Valid
6
2
3
-66.7%
-100.0%
$10,000,000 and up
1
0
Not Valid
1
0
Not Valid
0.0%
0.0%
PRICE RANGE
ROWAYTON | $2M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$2,000,000 - $2,999,999
0
1
0
0
3
0
0.0%
-66.7%
$3,000,000 - $4,999,999
0
1
0
0
1
0
0.0%
0.0%
$5,000,000 - $9,999,999
0
0
Not Valid
0
1
0
0.0%
-100.0%
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
PRICE RANGE
NEW CANAAN | $2M AND HIGHER AS OF DECEMBER 31, 2025
AS OF DECEMBER 31, 2024
2025 vs. 2024
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$2,000,000 - $2,999,999
7
5
1
7
5
1
0.0%
0.0%
$3,000,000 - $4,999,999
7
6
1
10
5
2
-30.0%
20.0%
$5,000,000 - $9,999,999
6
3
2
9
2
5
-33.3%
50.0%
$10,000,000 and up
1
0
Not Valid
2
0
Not Valid
-50.0%
0.0%
PRICE RANGE
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
Source: Greenwich MLS and Smart MLS.
LUXURY MARKET REPORT 4th QUARTER 2025 TEN-YEAR MARKET HISTORY WESTCHESTER COUNTY LUXURY HOME SALES | $2M AND HIGHER
PUTNAM COUNTY LUXURY HOME SALES | $1M AND HIGHER
Source : Onekey MLS.
LUXURY MARKET REPORT 4th QUARTER 2025 TEN-YEAR MARKET HISTORY DUTCHESS COUNTY LUXURY HOME SALES | $1M AND HIGHER
GREENWICH, CT LUXURY HOME SALES | $3M AND HIGHER
Source : Onekey MLS and Greenwich MLS.
LUXURY MARKET REPORT 4th QUARTER 2025 TEN-YEAR MARKET HISTORY DARIEN, CT LUXURY HOME SALES | $2M AND HIGHER
ROWAYTON, CT LUXURY HOME SALES | $2M AND HIGHER
Source : Smart MLS.
LUXURY MARKET REPORT 4th QUARTER 2025 TEN-YEAR MARKET HISTORY NEW CANAAN, CT LUXURY HOME SALES | $2M AND HIGHER
Source : Smart MLS.
FULL YEAR 2025 LUXURY MARKET REPORT A SELECTION OF 2025 LUXURY SALES
214 C LA PB OA RD RI D G E ROA D
1 1 CO N Y ERS FA RM D RI VE
88 CEDA R CL I FF ROA D
GRE E N WI CH CT
G R E E N W I CH, CT
RI VERSI D E, CT
Offered at $55,000,000
Offered at $17,500,000
Offered at $13,995,000
Michele Tesei | M 203.536.3352
Anne Ward | M 203.249.5236
Joanne Mancuso | M 203.667.3887 Amanda Miller | M 203.912.9233
43 JO NES PARK D R I V E
1 01 6 O R I ENTA AVENU E
1 2 I SL A ND D RI VE
M A M A RO NECK NY
RY E, NY
Offered at $10,950,000
Offered at $9,999,000
Pollena Forsman | M 914.420.8665
Lisa Murphy | M 914.391.2655
30 MO RRI S L A NE
1 3 1 LO N G NECK PO I NT ROA D
1 1 8 J O HN ST REET
SC AR S DALE, NY
DA R I E N, CT
GREENWI CH, CT
Offered at $7,495,000
Offered at $7,400,000
Offered at $6,995,000
Elise Jan Flagg | M 914.714.9250
Ann Wood Barton | M 203.984.5824
BK Bates | M 203.536.4997
RIVE R S I D E, CT Offered at $11,500,000 Julie Church | M 203.561.9373
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@HOULIHANRE
@H O U L I H A N L AW R EN CE
H O U L I H A N L AW R EN CE.CO M
FULL YEAR 2025 LUXURY MARKET REPORT A SELECTION OF 2025 LUXURY SALES
120 O NEI DA D RI V E
9 M O U NTA I N WO O D D RI VE
GRE E N WI CH , CT
G R E E N W I CH, CT
Offered at $13,200,000
Offered at $12,995,000
Offered at $11,750,000
Joanne Mancuso | M 203.667.3887
Joanne Mancuso | M 203.667.3887
Donna McElwee | M 914.282.3274
1 9 HI L LTO P PL ACE RY E, NY
Scott McElwee | M 914.374.0715
11 W Y NNWOOD ROA D
5 61 S M IT H RI D GE ROA D
55 CA L HO U N D RI VE
N E W C A NA A N CT
GREENWI CH, CT
Offered at $8,750,000
Offered at $8,250,000
Taylor Tait | M 203.644.0026
Ellen Mosher | M 203.705.9680
2 PAR SONAG E POIN T P L AC E
4 0 HA M PTO N ROA D
40 O L D FA RM ROA D
RYE, N Y
SC A R S DA L E, NY
DA RI EN, CT
Offered at $6,995,000
Offered at $6,875,000
Offered at $6,500,000
Lisa Murphy | M 914.391.2655
Kathleen Collins | M 914.715.6052
Darien Brokerage 203.655.8238
GRE E N WI CH CT Offered at $9,750,000 Julie Church | M 203.561.9373
/H O U L I H A N L AW R EN CE
@HOULIHANRE
@H O U L I H A N L AW R EN CE
H O U L I H A N L AW R EN CE.CO M