Remote Work And Its Benefit to Your Vacation Home Sale

The past year has certainly imposed significant changes on our homes and what we look for in them. With working remotely we have seen people flocking to their vacation homes, relocating or buying second homes. All of this has collectively led to increased demand for housing in locations such as here in Fort Lauderdale. 

The National Association of Realtors (NAR) has stated for example, “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.”

If you have been debating about selling your vacation home then acting quickly may be to your best advantage. Homes in areas like ours are not staying on the market for very long as they get swept up by those looking to purchase in vacation areas. NAR also states that most vacation homes are selling in less than one month. 

Regarding pricing, that is also something that is on the rise. Homes across the country and across the board are still seeing the rising trend when it comes to price. Specifically for vacation homes, NAR recently shared “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.”

The bottom line is if your vacation home has been just sitting empty, possibly not getting as many renters as you usually have, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the ideal time. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today.