SAN FRANCISCO, Dec. 16, 2024 /PRNewswire/ -- Pacaso, the technology-enabled real estate marketplace that helps people buy, co-own, and sell a luxury vacation home, today releases its fourth annual Top Vacation Home Markets Report, identifying the leading luxury vacation home markets for 2024. The report reveals the top 20 counties across the United States, identified through an analysis of second home-to-primary home ratios, rate lock growth, and price trends for homes priced above $700,000 dollars.
"The destinations on this year's list really capture the breadth of the luxury vacation home market," said Pacaso CEO and Co-Founder Austin Allison. "Legacy destinations remain as timeless as ever, Florida's panhandle is solidifying its status as a favorite for vacationers, and Manhattan is resurging as a place where buyers are doubling down on second-home investments. These aren't just weekend getaways anymore—they're lifestyle investments for people looking to create endless cherished memories with friends and family."
In the list of top 20 markets for vacation home growth this year, Cape May County, New Jersey, known for iconic beach towns like Ocean City and Avalon, takes the lead with the proportion of second homes to primary homes exceeding 150%. Florida's Walton and Gulf counties, located in the Panhandle, outpace previous list toppers like Palm Beach and Collier counties as top coastal choices. Out west, scenic counties neighboring U.S. National Parks like Washington County, Utah, with its proximity to Zion National Park; Coconino County, Arizona, home to the Grand Canyon; and Yellowstone National Park's Gallatin County, Montana, reflect the continued and growing demand for destinations within close proximity to outdoor recreation and natural beauty.
"As 2024 comes to an end, mortgage rates are starting to ease, home purchase applications have hit their highest levels since January, and growing inventory is helping drive more transactions. We're seeing strong indications that demand for both primary and secondary homes will continue to grow into 2025," continued Allison.
The report also highlights the enduring appeal of legacy destinations like Cape Cod (Barnstable County), Newport, Rhode Island (Newport County), Maui (Maui County), and the Carolinas' Beaufort and Charleston counties, which attract affluent second-home buyers with their timeless Southern charm.
To view the complete report and methodology, please visit Pacaso.com.
About Pacaso
Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership, enabling families to effortlessly own a luxury vacation home and travel with confidence. Pacaso curates private residences in premier destinations across the U.S. and internationally, with exceptional amenities, luxury interiors and expert design. After purchase, Pacaso professionally manages the home, provides white-glove scheduling and personalized service, and ensures seamless resale.
SOURCE Pacaso
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