Pack your bags! It’s Part 1 of our summer road trip series. 

Everest takes you on a tour of the Northeast’s housing landscape.

Every summer calls for an exciting road trip!

Perhaps you’re headed down the shore, exploring a new town, or checking destinations off your bucket list. This year, your friends at Everest are taking a different kind of journey. We decided to check in on some of the states we service across the country.

While national real estate headlines often dominate the conversation, every state has its own unique story to tell. Some markets are heating up, others are cooling off, and inventory and affordability change dramatically from one state line to the next.

So buckle up as we make four stops across Everest Equity’s Northeast lending footprint to see what’s happening in today’s housing market. We’ve got some interesting insights in store!

One region. Four stories. 

One of the biggest surprises for today’s buyers is just how local real estate remains.

“People often hear a news headline and assume it applies everywhere,” says Everest Loan Officer Rita Horowitz. “But conditions can vary tremendously between states, counties, and even neighboring towns. This is especially true in New York, New Jersey, Connecticut, and Pennsylvania. Home prices and buyer demand can differ dramatically from one community to the next.”

Collectively, inventory has improved across the Northeast compared to the cutthroat post-pandemic years. Buyers generally have more choices than they did a few years ago, and many sellers are finding they need to price homes more carefully. But that doesn’t mean every market is slowing down. Far from it!

As we’ll see on our road trip, some destinations remain highly competitive while others are becoming balanced. Let’s take a look at some stats.

Northeast Median Home Prices

May 2026

                  • New York: $540,000 (+38% National Median)

                  • New Jersey: $530,000 (+36% National Median)

                  • Connecticut: $450,000 (+15% National Median)

                  • United States: $390,000 (National Median)

                  • Pennsylvania: $290,000 (-26% National Median)

A closer look at median home price reveals just how different Northeast housing markets can be. While New York and New Jersey rank among the most expensive states in the country, Connecticut occupies a middle ground, and Pennsylvania sits well below the national benchmark. More on that shortly.

Ready to hit the road?

Now comes the fun part.

We’ve set the GPS and mapped out four stops across the Northeast. Along the way, we’ll explore not only what’s happening in each state’s housing market, but also a few destinations you should add to your summer bucket list.

“Whether you’re considering a permanent move, the purchase of a second home, or just some casual summer sightseeing, this road trip will be worth your while,” says Rita Horowitz. “Every market has something special to offer, and understanding those local differences can help buyers make smarter decisions wherever the road takes them.”

Before we make our first stop, see if you can guess what’s waiting around the bend:

              • Which state currently offers some of the strongest affordability in the region?

              • Which market continues to attract buyers despite higher prices and limited inventory?

              • Where are buyers enjoying the most negotiating power?

              • And which state offers the best balance of lifestyle, location, and value?

Lock in your guesses now.

Everest Equity’s Northeast Summer Road Trip

 

Stop #1: New York

Housing Market Snapshot

Our first stop takes us to New York, the state Everest calls home. Here, the housing market manages to tell several stories at once.

Downstate communities surrounding New York City remain among the most competitive markets in the Northeast. Areas throughout Westchester County, Long Island, portions of the Hudson Valley, and Rockland County continue to experience strong buyer demand, limited inventory, and elevated home prices. Multiple offers are the norm, often within days (or hours!) of listing.

At the same time, some upstate markets have begun to cool slightly compared to the rapid appreciation seen in recent years. Buyers in Rochester, Syracuse, and parts of the Capital Region are finding somewhat more inventory and a slower pace of competition.

And finally, affordability remains one of New York’s biggest challenges, but increased inventory is helping to create more opportunities than buyers have seen in quite some time.

Road Trip Detour

No summer visit to The Empire State is complete without exploring a few iconic destinations.

Catch a Broadway show in Manhattan, spend a weekend in the Finger Lakes region, take in the views at Niagara Falls, or enjoy a scenic drive through the Adirondacks. Looking for something a bit different? Walk the High Line, visit Cooperstown’s Baseball Hall of Fame, or hop aboard a boat tour around the Statue of Liberty.

And if you make it to the city, don’t forget to grab a true New York slice at Joe’s Pizza in Greenwich Village!

Stop #2: New Jersey

Housing Market Snapshot

Crossing the Hudson brings us over to New Jersey, where housing demand remains remarkably resilient.

The state’s commuter-friendly towns continue to attract interest from buyers wanting access to New York City while seeking more outdoor space and suburban amenities. Locations throughout Morris, Bergen, Monmouth, and Somerset Counties are especially competitive.

That said, inventory has improved in the past couple of years, giving buyers greater negotiating power. Well-priced homes still move quickly in desirable locations such as Chatham, Ridgewood, Bernardsville, and Red Bank, but buyers are finally seeing opportunities for concessions—-especially when properties are priced above market and need updates.

While homes in Northern New Jersey are still expensive by national standards, they’re often less expensive than prime markets adjacent to NYC. Down the shore, demand also remains solid as buyers find pricing that is more accessible than many comparable coastal markets.

Road Trip Detour

Spend a day on the boardwalk in Point Pleasant or Ocean City, stroll the Victorian streets of charming Cape May, hike the exhilarating Delaware Water Gap, or explore the countless restaurants and waterfront attractions along the Jersey Shore. You’ve probably heard of Seaside Heights and Wildwood, but check out some of the state’s lesser known gems like Spring Lake, Sea Bright, Bay Head, and Strathmere, where locals’ unofficial motto is, “Shhhhhhhhhhh!”

By the way—stopping for an oversized boardwalk ice cream cone is required.

Stop #3: Connecticut

Housing Market Snapshot

Time and again, Connecticut wins over buyers who are looking for a balance between accessibility, lifestyle, and value.

Many commuter towns and shoreline communities remain highly desirable, particularly those offering walkable downtowns, strong school systems, natural surroundings, and access to transportation. While inventory is improving throughout much of the state, demand remains healthy in popular markets such as Fairfield County and along the Long Island Sound coastline.

Compared to neighboring New York and portions of New Jersey, many buyers still see Connecticut as an opportunity to gain additional space while maintaining proximity to Manhattan.

Road Trip Detour

Connecticut may be one of the Northeast’s most underrated summer destinations. The state is small but mighty in this category! Visit the Mystic Seaport Maritime Museum, stroll Yale’s historic campus in New Haven, or relax along the shores of the Long Island Sound. You could also spend an afternoon wandering through charming small towns like Essex and Chester, or explore the grand Gilded Age estates and gardens on the Gold Coast.

This state offers a unique blend of coastal charm, New England history, and chill summer appeal. Oh, and some incredible lobster rolls.

Stop #4: Pennsylvania

Housing Market Snapshot

Our final stop brings us to Pennsylvania, which may surprise some travelers.

From a housing perspective, Pennsylvania continues to provide some of the strongest affordability in the Northeast. Many buyers are drawn to the state’s combination of larger homes, lower price points, and expanding inventory. Areas throughout Central PA, the Lehigh Valley, and many suburban markets outside of Philadelphia attract interest from first-time buyers and move-up purchasers alike.

While certain pockets remain competitive (think: West Chester, Phoenixville, Lancaster, and Broomall), buyers generally enjoy more flexibility and negotiating power here than in neighboring states. If you’re a budget-conscious buyer, Pennsylvania is no doubt the region’s most compelling destination.

Road Trip Detour

There’s something for everyone in The Keystone State! History lovers can tour Philadelphia’s Independence Hall and Liberty Bell, while outdoor enthusiasts can hike the stunning Pocono Mountains or visit one of Pennsylvania’s many state parks. If you have kids in tow, consider a day at Hersheypark or a ride aboard the Strasburg Railroad Train in Amish Country.

Hungry? Stop off at the country’s largest buffet, the Shady Maple Smorgasbord, located in Lancaster. The Pennsylvania Dutch really know how to cook!

Mid-Journey Recap

So, what did we learn on leg #1 of our summer road trip? The Northeast housing market isn’t one market at all, but a collection of many unique places shaped by their own local dynamics. As always, getting pre-approved, understanding your financial options, and working with an experienced Everest loan officer can help ensure you’re ready when the right opportunity appears.

Next month, we’ll head south to explore housing trends in North Carolina, Florida, Texas, and beyond. Until then, enjoy the ride!

Everest says: 

We know the Northeast

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