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How Remote Work Can Power Your Vacation Home Sale

Monday, December 7, 2020   /   by Nicole Solari

How Remote Work Can Power Your Vacation Home Sale

This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR), notes:



“Working from home is a positive factor in demand for vacation homes.”



Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, in the mountains, or somewhere in between. NAR explains:



Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home counties saw a year-over-year sales increase.”



Is it Time to Sell Your Vacation Home?


If you’ve been thinking about selling your vacation home, putting it on the market now while demand is high might be your best move. Here are two reasons why.


1. Vacation Homes Are Selling Quickly


These homes are not staying in the market for very long. NAR also notes:



In September, 68% of vacation homes sold in less than a month. Historically, about 30% sell that quickly…It’s a pretty amazing uptick compared to past years.”



2. Home Prices Are Rising


With an increase in demand, prices go up. NAR continues:



“In the third quarter, prices in vacation-home counties rose by about 32% year over year. Seventy-nine percent of these counties experienced year-over-year price gains. NAR defines a vacation-home county as one in which seasonal housing accounts for at least 20% of stock.”



If your vacation home is sitting idle, maybe not attracting as many renters as you usually see, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the time. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today.


Bottom Line


Demand is on the rise, so reach out to a local real estate professional today to determine your next steps when it comes to selling your vacation home.


  real estate, the solari group, level up realty, for sellers, housing market updates, luxury market

Level Up Realty
Nicole Solari
490 Chadbourne Road, Suite A123
Fairfield, CA 94534
707-486-5400
DRE# 02014153

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:October 3, 2022
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