Pacaso Unveils Top US Second Home Markets of 2023 and 2024 Destinations to Watch
SAN FRANCISCO, Dec. 5, 2023 /PRNewswire/ -- Pacaso, the leading technology-enabled real estate marketplace that helps people buy, co-own, and sell a luxury second home, today releases its third annual Top Second Home Markets Report, identifying the leading luxury second home markets for 2023 and introducing the top markets to watch in 2024. The report reveals the top ten counties across the U.S. that saw the biggest annual increases in second home transactions and the largest year-over-year appreciation for homes priced above one million dollars.
- In the list of top 10 markets for second home transactions this year, Newport County, Rhode Island, takes the lead with an impressive 64% surge in second home transactions in 2023, marking a significant increase from 2022.
- On the West Coast, Douglas County, Nevada (13%), and Island County, Washington (11%), experienced significant year-over-year increases in second home transactions.
- The top market to keep an eye on in 2024 is Volusia County, Florida, witnessing a remarkable 47% year-over-year increase in average second home value.
- Summit County, Utah, home to the popular year-round destination Park City, demonstrated an impressive 18% increase in second home values from 2022 to 2023.