ZIP Code 10524 Housing Market

📝 Local Market Notes

ZIP code 10524 exhibits a volatile price trajectory over the past five years, characterized by sharp fluctuations rather than steady growth. The FHFA House Price Index for this area surged from 198.12 in 2021 to a peak of 278.2 in 2024, reflecting a period of intense market activity. However, the index has since retreated to 272.87 in 2025. This recent decline results in a year-over-year change of -1.92%, indicating a cooling phase after the significant appreciation observed in 2022, when the index jumped nearly 19%. The data suggests that while the long-term trend remains upward compared to 2021 levels, the short-term momentum has reversed, creating a more stable but less aggressive pricing environment for current market participants. A notable divergence exists between ZIP 10524 and the broader regional market. While the ZIP code experienced a 1.92% decline, Putnam County recorded a 3.70% increase, and New York State grew by 3.55%. This underperformance relative to both the county and state averages signals that 10524 is currently decoupling from the general upward pressure seen in surrounding areas. Unlike nearby ZIPs 10588 and 10541, which posted gains of 7.43% and 5.97% respectively, 10524 is contracting. This divergence may reflect specific local supply dynamics or a correction in a previously overheated segment, distinguishing it from the consistent growth patterns observed in its immediate geographic neighbors. The sub-market character of 10524 aligns with a high-value, owner-occupied segment. With an HPI of 272.9, the area commands a premium relative to the national baseline. The parent county’s median home value of $471,300 and median household income of $126,257 support a profile of established, affluent homeowners. The 83.8% owner occupancy rate further cements this as a stable, residentially oriented community rather than a renter-heavy or entry-level market. For prospective buyers, the current 7.40% mortgage rate combined with the local price correction offers a potential entry point. Residents and investors should note that while the area maintains high wealth indicators, the recent price softening provides a contrast to the rapid appreciation seen in adjacent ZIP codes, suggesting a market that is currently stabilizing after a period of rapid expansion.

Based on FHFA House Price Index data.