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Vacation Home Sales Up 44%
Vacation home sales are up 44% year-over-year according to the National Association of REALTORS® based on sales during the July to September period. Not only are the number of units up, but they are also selling faster than in previous years. On a national basis, 72% of existing vacation homes closed in October were on […]
Vacation Home Sales Up 44%
Vacation home sales are up 44% year-over-year according to the National Association of REALTORS® based on sales during the July to September period. Not only are the number of units up, but they are also selling faster than in previous years. On a national basis, 72% of existing vacation homes closed in October were on […]

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Vacation home sales are up 44% year-over-year according to the National Association of REALTORS® based on sales during the July to September period. Not only are the number of units up, but they are also selling faster than in previous years.

On a national basis, 72% of existing vacation homes closed in October were on the market for less than one month.

The increased desirability and affordability of vacation homes, according to the National Association of Realtors, seems to be influenced by the pandemic and low mortgage rates. The ability to work from home seems to be contributing to this increase.

Freddie Mac reports the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 2.83% in October compared to the aver commitment rate for all of 2019 which was 3.94%.

There may also be a safety factor involved with these decisions to purchase vacation or second homes. Contagious diseases flourish more in highly populated areas like big cities and suburbs. The locations of the vacation or second homes are generally in areas with less residents.

The slower pace from the city may also add to the appeal of considering second homes. Proximity to the mountains or water, whether it be the ocean, rivers or lakes, have become a lure to people who realize that if where they work doesn’t matter, they can select a place where they want to be.

Historically, Americans on the east coast left the cities during the 1793 yellow fever epidemic. The same migration took place in the mid-19th century during three waves of Cholera and Scarlet fever.

Trends have yet to determine whether some of these new vacation home buyers may consider moving permanently or may reconsider the decision after the pandemic. Currently, it does have broad-based appeal and offers a lot of flexibility to owners who can afford it.

LIST OF BLOGS

3615 Janet Rd, Silver Spring, MD 20906

Price: $450,000 3615 Janet Rd, Silver Spring, MD 20906 MLS #: MDMC2007786 Tax ID #: 161301237522 Ownership Interest: Fee Simple Structure Type: Detached Levels/Stories: 3 Waterfront: No Garage: No Beds: 4 Baths: 2 Above Grade Fin SQFT: 1,566 / Assessor Price / Sq Ft:...

5851 Riverside Dr, Woodbridge, VA 22193

Price: $425,000 5851 Riverside Dr, Woodbridge, VA 22193 MLS #: VAPW2000446 Tax ID #: 8091-29-4817 Ownership Interest: Fee Simple Structure Type: Detached Levels/Stories: 2 Waterfront: No Garage: No Beds: 4 Baths: 3 Above Grade Fin SQFT: 1,040 / Assessor Price / Sq Ft:...

15762 Edgewood Dr, Dumfries, VA 22025

Price: $449,900 15762 Edgewood Dr, Dumfries, VA 22025 MLS #: VAPW2004188 Tax ID #: 8190-67-1092 Ownership Interest: Fee Simple Association: HOA Structure Type: Detached Levels/Stories: 3 Furnished: No Waterfront: No Garage: No Beds: 0 Baths: / 1 Above Grade Fin SQFT:...

5432 New London Park Dr, Fairfax, VA 22032

Price: $493,500 5432 New London Park Dr, Fairfax, VA 22032 MLS #: VAFX2010734 Tax ID #: 0772 19 0302 Ownership Interest: Fee Simple Association: HOA Structure Type: Interior Row/Townhouse Levels/Stories: 3 Waterfront: No Garage: No Beds: 3 Baths: 2 / 2 Above Grade Fin...

6000 Wilmington Dr, Burke, VA 22015

Price: $735,000 6000 Wilmington Dr, Burke, VA 22015 MLS #: VAFX2009428 Tax ID #: 0783 11 0119A Ownership Interest: Fee Simple Association: HOA Structure Type: Detached Levels/Stories: 2 Furnished: No Waterfront: No Views: Garden/Lawn, Street, Trees/Woods Garage: No...

12489 Selkirk Cir, Bristow, VA 20136

Price: $390,000 12489 Selkirk Cir, Bristow, VA 20136 MLS #: VAPW2004086 Tax ID #: 7495-92-6669 Ownership Interest: Fee Simple Association: HOA Structure Type: Interior Row/Townhouse Levels/Stories: 3 Waterfront: No Garage: No Beds: 2 Baths: 2 / 1 Above Grade Fin SQFT:...

1203 Weatherstone Ct, Reston, VA 20194

Price: $625,000 1203 Weatherstone Ct, Reston, VA 20194 MLS #: VAFX2010768 Tax ID #: 0112 10070034 Ownership Interest: Fee Simple Association: HOA Structure Type: Interior Row/Townhouse Levels/Stories: 3 Furnished: No Waterfront: No Views: Garden/Lawn, Lake, Other,...

5312 Arapaho Ln, Alexandria, VA 22312

Price: $600,000 5312 Arapaho Ln, Alexandria, VA 22312 MLS #: VAFX2010758 Tax ID #: 0723 34 0134 Ownership Interest: Fee Simple Association: HOA Structure Type: Interior Row/Townhouse Levels/Stories: 4 Waterfront: No Garage: Yes Beds: 3 Baths: 3 / 1 Above Grade Fin...

22893 Adelphi Ter, Sterling, VA 20166

Price: $540,000 22893 Adelphi Ter, Sterling, VA 20166 MLS #: VALO2004334 Tax ID #: 024450607000 Ownership Interest: Fee Simple Association: HOA Structure Type: End of Row/Townhouse Levels/Stories: 3 Waterfront: No Garage: Yes Beds: 3 Baths: 2 / 1 Above Grade Fin SQFT:...

11503 Rabbit Run Ter, Silver Spring, MD 20904

Price: $509,900 11503 Rabbit Run Ter, Silver Spring, MD 20904 MLS #: MDMC2007770 Tax ID #: 160503337020 Ownership Interest: Fee Simple Association: HOA Structure Type: Interior Row/Townhouse Levels/Stories: 3 Waterfront: No Garage: Yes Beds: 3 Baths: 2 / 2 Above Grade...

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