The Year of The Vacation Home

Purchasing a Vacation Home

Since the start of the pandemic, vacation home sales have skyrocketed in comparison to previous years. According to the World Property Journal. Vacation and second home sales were up 118% in 2020 and 84% in 2021. As companies allow workers to continue to work remotely, there has been no slow down in the second-home real estate market. But what technically is a “vacation home?” We’ll break that down here.

Defining a Vacation Home

The National Association of Realtors (NAR) released their 2021 Vacation Home Counties Report that highlights the trends and data of home sales in “vacation counties” across the United States. NAR considers a county as a ‘vacation home county’ if vacant homes for seasonal, occasional, or recreational use account for at least 20% of the housing stock. As of 2019, 323 out of 3,143 counties were ‘vacation home counties.’ According to NAR, here in Western Washington, Mason and Pacific Counties are considered vacation counties.

What is happening in our local Real Estate Market?

In Mason County, the average home sale price is up 32.6% year over year. Which is 10% greater increase year to date when compared to Pierce County and surrounding counties. What is even more interesting, in very rural areas such as Tahuya, WA in Mason County, the average home sale price is up 69% year to date. Across the US, second homes account for 15% of new single-family home sales (Keeping Current Matters). If you currently own a home in a seasonal area and have thought about selling, now is a great time to take advantage of the market and sell at top dollar. Selling your vacation home requires the preparation and presentation, for you to make the most when selling. Parter with your Realtor to assist in preparing your home for sale. You will be so glad you did!

Curious how to finance your 2nd home purchase? Ready more here!

 

Interested in learning more about investment properties or second home purchases? Call/Text Realtor Jenny Wetzel (253) 381-9788 or email Jenny@JennyWetzelHomes.com for more information.

You May Also Like…

Market Update Q3 2022

Market Update Q3 2022

The  Market Update for Q3 2022 is here! Every quarter of the year we compile the data from the following counties: Pierce, Kitsap, Thurston & King. The data is pulled directly from the Northwest Multiple Listing Service. Curious about the stats for your specific neighborhood? Let us know, we are happy to run a market update report tailored just for you.

read more
Are We In A Housing Recession? September 2022 Update

Are We In A Housing Recession? September 2022 Update

In this week’s Monday’s with Matthew episode, Windermere’s Chief Economist, Matthew Gardner discusses his thoughts in regard to the current housing market. What’s the number one question most homebuyers and home sellers have right now? “Are we headed towards another Great Recession?” Here’s what we can likely expect for the housing marker over the next year or so.

read more
Matthew Gardner Report – Q2 2022

Matthew Gardner Report – Q2 2022

This analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Here is the Matthew Gardner Report for Q2 2022.

read more

Get In Touch

Tacoma Realtor - Jenny Wetzel

Jenny Wetzel

Call or Text: 253.381.9788

Email: jenny@jennywetzelhomes.com

Fax: 253.381.9788