Real Estate Markets Surge as Closed Dollar Volume Outpaces Unit Sales

The report, which covers a broad swath of Connecticut, Massachusetts, and New York, reveals a distinct divergence between transaction volume and monetary value. While unit sales in most regions remain below 2025 levels, dollar volume has consistently outperformed, fueled by a product mix skewed toward high-end properties and a steady upward trajectory in median sale prices. This trend suggests that while fewer homes are changing hands, those that do are commanding significant premiums.

Market competition remains fierce, with properties frequently trading above their initial listing prices. In Fairfield County, homes averaged a sale price 3.2% higher than the asking price, though mid-tier homes between $1.5 and $2 million saw this gap widen to 7.8%. Westchester showed even greater intensity, with a county-wide average of 5.3% over asking, jumping to 9.7% for properties in the $1 to $2 million range. Supply remains the primary constraint, though a second-quarter increase in standing inventory offers a rare glimmer of relief for frustrated buyers. Paul Breunich, Chairman and CEO of the firm, noted that while macroeconomic uncertainty lingers, the consistent pace of demand combined with rising inventory should sustain robust sales activity through the remainder of the year.