Hot Vacation Home Markets Ripe for Investment in 2024

Lisa Mailhot  |  April 12, 2024

Buyers

Hot Vacation Home Markets Ripe for Investment in 2024

 

As the primary housing market navigates challenges like low inventory and high mortgage rates, the vacation home sector is emerging as a lucrative opportunity. New trends, such as metro-adjacent homes and rising vacation destinations, offer significant price appreciation and access to outstanding amenities – a potential goldmine for savvy agents.

According to data analyzed by Pacaso, a real estate firm specializing in co-ownership of luxury second homes, several markets across the United States are leading the charge in vacation home value growth. Here are the top destinations to watch in 2024:

Florida Shines Bright

The Sunshine State attracts buyers, with three counties securing spots on the watchlist. Volusia County leads the pack with a staggering 47% year-over-year increase in average second home value to $4,105,174. Orange County and Indian River County are also hot spots, with over 20% appreciation for luxury second homes.

 

Emerging "Destination Dupes"

The trend of "destination dupes" – budget-friendly alternatives to popular locations – extends into real estate. Washoe County, Nevada (home to Reno, the "biggest little city") experienced a remarkable 26% appreciation in second homes to $2,431,955. Brunswick County, North Carolina, and Jefferson County, Colorado, also witnessed impressive gains of 26% and 37%, respectively.

Park City's Enduring Appeal

Summit County, Utah, the beloved home of the year-round destination Park City, has seen an 18% increase in second home values to $2,588,937 from 2022 to 2023. This cherished market remains a must-watch, with homes consistently delivering significant resale gains.

As buyers flock to these vacation home markets, agents can offer compelling solutions like co-ownership to drive more sales. With co-ownership listings curated in regionally-relevant destinations, agents can appeal to clients seeking the perfect vacation home while expanding their inventory and earning potential.

Bottomline

If you're an Orange County resident seeking a luxurious vacation home investment in one of these hot markets, let's connect. I'll guide you through the process and help you capitalize on these incredible opportunities.

 

 

Reference: “These top vacation home markets offer opportunities for every agent” by Pacaso. Published on April 8, 2024.

RECENT BLOG POSTS

What the AFFH Repeal Means for Homeowners & Buyers

The Department of Housing and Urban Development (HUD) is repealing the Affirmatively Furthering Fair Housing (AFFH) rule, a policy designed to address housing discrimi… Read more

Can You Really Pay Your Mortgage With a Credit Card?

Thinking about paying your mortgage with a credit card? While it might sound convenient, there are risks and rewards to consider. In this blog, we dive into why it's b… Read more

Late May Listings Lead to Larger Profits

Discover the prime time to list your home for sale in Orange County with insights from Zillow's latest report. Late May emerges as a golden window, promising significa… Read more

Will Falling Mortgage Rates Finally Ignite the Housing Market?

Mortgage rates are falling, but is it enough to jumpstart homebuyer demand? Inventory is growing, but pending sales remain sluggish. Explore the latest housing market … Read more

Why Retirees Are Moving to Lower-Tax States

Soaring property taxes in states like New York, Illinois, and Texas are pushing retirees to more tax-friendly areas in the South and West. With affordability and quali… Read more

The 2025 Home Improvement Playbook: Upgrades That Add Value & Comfort

Thinking of selling your home—or just want to enjoy it more? 2025 home renovation trends focus on comfort, electrification, and curb appeal. From kitchen remodels to b… Read more

The Secret Weapon to Selling Fast: Mastering the Art of Home Staging

Want to sell your home for top dollar? Staging isn’t just about making a space look pretty—it’s a powerful marketing tool that can dramatically impact how buyers perce… Read more

Zombie Foreclosures Are Slowly Creeping Back

Zombie foreclosures are seeing a modest rise, with over 7,000 vacant pre-foreclosure homes across the U.S. Explore what zombie foreclosures are, why they’re increasing… Read more

Palisades Land Boom: A Golden Opportunity for Investors and Homebuilders

The Palisades real estate market is heating up as wildfire-affected lots hit the market, with experts predicting up to 750 listings in the coming years. With land pric… Read more

We are excited to assist you in finding your perfect home

Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most