Shand Jaret Blog

Luxury Second-Home Prices Up 11% in 2015

By shandjaret
Mar 28, 2016

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It’s perhaps no surprise that 2015—the year the U.S. Federal Reserve began to raise interest rates—was quite a good year for the luxury second-home market. In such an environment, there’s a buyers’ impetus—even if in the mind only—to close real estate deals while money is still cheap. Last year, according to our research partner RealtyTrac, the median price of second homes above $1 million on our exclusive list of 20 luxury resorts increased 11%, to $2 million, the same percentage increase for the median price of all houses in the country. You can find our second-home table compiled by Sonia Talati on page 34, complete with prices and local-market intelligence. Our survey tracks $1-million-plus single-family houses in ZIP Codes with a high percentage of second-home residences, and we rank the 20 resorts according to our judgment of their livability and value. Read More...

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