The market, July to September 2025

The quarter in brief

• Prices rose year over year everywhere, from +5.4% in Cold Spring to +9.0% in Kingston.
• Prices dipped from spring in the expensive towns. Rhinebeck's median fell 5.8% from Q2, Cold Spring's 2.7% and Beacon's 1.9%. That's the usual seasonal pattern at the top, plus a mix of smaller houses selling.
• More choice for buyers. Months of supply rose in four of six towns compared with Q2, though it remains below four months everywhere except Rhinebeck.

All six towns

Single-family homes, condos and two- to four-family houses closed July 1 to September 30, 2025, within each municipality's limits (Cold Spring includes Nelsonville; Kingston is the city only). Compiled by Fieldstone & Finch from public closed-sale records and the regional listing service; includes sales by all brokerages. Small towns have small samples: in Cold Spring, nine sales can move the median a long way. Information deemed reliable but not guaranteed.

Beacon

Still the tightest market of the six. Houses within walking distance of Main Street or the train kept selling over asking, and the typical sale closed at 101.8% of the final list price. The small dip from spring is mostly mix: fewer of the big Victorians on the hill sold this summer, and more condos and townhouses near the creek did. The few houses that sat were on busy roads or needed major work and were priced as though they didn't.

Cold Spring

Nine sales is a tiny number, so treat every figure here with caution. The village itself remains very short of houses; most of the extra supply this quarter was outside the village center. Four of the nine sales were over $1,000,000, so buyers paid the 1% mansion tax on nearly half of them, and a couple of contracts landed, not by accident, at $995,000 or just under.

Kingston

The biggest year-over-year gain of the six, at 9.0%, and the most sales. First-time buyers and city buyers are competing for the same $350,000 to $500,000 houses, and the well-kept ones got multiple offers. New-construction condos sold steadily. Two-families in the Rondout were slower, as buyers paid closer attention to rent rolls and insurance costs. One of ours, 22 Hearthstone Lane, went under contract in six days and closed at $488,000, above its $475,000 asking price.

Rhinebeck

The median crossed $1,000,000 last year and has stayed there. The quarter's dip from spring reflects a quieter summer at the very top: fewer estates closed, and those that did took longer and sold further below asking. Village houses in good condition still sold quickly. At 4.2 months of supply, buyers here have the most room to negotiate of any of our six towns, especially over $2 million.

New Paltz

Steady. Summer is always a bit odd here, with faculty and staff buying before the semester and investors buying near campus. The 1980s and 1990s colonials on an acre outside the village remain the core of the market and sold close to asking. Land sales toward Gardiner picked up as rates eased.

Hudson

The one town where the market got a little tighter this quarter: more sales than in spring, fewer days on market, and supply down to 3.6 months. Restored row houses on and near Warren Street did best. Condos above shops sold well when the HOA was healthy and the building had been looked after; buyers are asking for reserve figures, and they should.

What we expect this fall

October brings the second, smaller selling season and a lot of lookers on foliage weekends. With rates near 6%, we expect more serious buyers through November than last year, and more sellers who held off in spring to list before the holidays. We don't predict prices. We do think a house that's well prepared and well priced in October will sell before the snow.

If you're buying, this is the most negotiating room we've seen in two years in Rhinebeck, Cold Spring and Hudson. If you're selling in Beacon or Kingston, the market is still with you, but buyers are pickier than they were in the spring of 2024.

This report is general market information, not an appraisal or investment advice. For a view of your own house, ask for a home value estimate.

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