The Boom in New York and New Jersey’s Luxury Real Estate Markets
Central New York’s Luxury Shift
Central New York, long known for major universities, vineyards and four true seasons, is now also defined by a rapidly appreciating housing market that is beginning to tilt luxury. Median listing prices in Syracuse have jumped roughly 42% in three years, from about $211,000 in November 2022 to around $299,000 in November 2025, the fastest percentage gain among the nation’s 100 largest metros.
Rochester has also seen significant upward movement, with median list prices rising from about $221,000 to approximately $257,000 over the same period, and projections for 2026 call for double‑digit price gains in both Syracuse and Rochester. Economist commentary ties this to buyers being priced out of traditional coastal hubs and “trading down” into secondary markets where their dollar stretches further, a dynamic that is expected to spill over into the upper tier.
Finger Lakes: Lifestyle-As-Luxury
At the top of the Central New York market, the Finger Lakes region—anchored by areas between Rochester, Syracuse and Ithaca—has become synonymous with high-end lakefront estates. Affluent buyers are gravitating to places like Skaneateles, which offers clear water, rolling farmland, boutique retail and short-supply waterfront properties that command premium pricing and fierce bidding wars.
New Jersey’s Coastal Counties
Best known for pristine beaches, charming shore towns, and, more recently, Monmouth and Ocean counties are two of the nation’s most dynamic housing markets. Prices in the traditionally stable have been climbing steadily since the pandemic and show no signs of slowing. But in a region where luxury listings remain highly sought after, an already competitive battle over high-end homes is intensifying.
Market Performance: By the Numbers
In Monmouth County, median listing prices have demonstrated remarkable resilience and growth. As of late 2025, the median home price sits at approximately $710,000, representing steady appreciation over recent years. Properties are moving quickly—the average home goes into pending status in just 20 days, significantly faster than many comparable markets nationwide.
Ocean County has shown similar strength, with median prices reaching $583,100 in mid-2025, up 6.2% year-over-year. Homes are selling in an average of 34 days, and with a sale-to-list price ratio of 101.1%, properties are commanding strong valuations with 55.9% of homes selling above asking price.
These markets are positioned for continued growth as buyers seek alternatives to increasingly unaffordable metropolitan areas. With many traditional coastal markets out of reach, purchasers are looking to New Jersey’s Shore communities where they can maximize their investment.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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