Top 7 Places to Buy a Vacation Home This Year
More people are on the hunt for a vacation home. Second-home purchases increased 46% nationwide compared to a year ago, according to an analysis from realtor.com®. And some unexpected places are becoming hot spots for these second homes.
“The pandemic has underscored for many people the idea that it’s nice to have a place to escape to,” says Danielle Hale, realtor.com®’s chief economist. “If you can afford it, a second home gives you an alternate place to retreat.”
To identify the places seeing the largest increase in second-home purchases so far this year, realtor.com® researchers scoured loan originations. Realtor.com®’s list includes one metro per state to ensure geographic diversity. Here are the hottest places for a vacation home this year:
1. Marion, N.C.
- Median home price in March: $344,500
- Increase in second-home sales percentage: 21.8%
2. Sturgis, Mich.
- Median home price: $187,900
- Increase in second-home sales percentage: 21.8%
- Median home price: $329,900
- Increase in second-home sales percentage: 21.8%
- Median home price: $242,000
- Increase in second-home sales percentage: 19.4%
5. Hudson, N.Y.
- Median home price: $595,000
- Increase in second-home sales percentage: 18.7%
- Median home price: $918,500
- Increase in second-home sales percentage: 17%
- Median home price: $534,500
- Increase in second-home sales percentage: 16.6%