Real Estate Trends for Vacation & Investment Properties
The National Association of REALTORS (NAR) recently published the 2011 NAR Investment and Vacation Home Survey. According to this survey, vacation-home sales accounted for 10 percent of all real estate transactions last year and investment sales were 17 percent of the overall real estate market.
The median vacation-home price was $150,000 in 2010, while the median investment-home price was $94,000.
These real estate statistics described the typical vacation-home buyer to be 49 years old with a median household income of $99,500 and purchased a property that was a median distance of 375 miles from their primary residence. Investment-home buyers had a median age of 45, earned $87,600 and bought a home within a median distance of 19 miles.
Thirty-four percent of vacation-home buyers said they plan to use the property as a primary residence in the future, as did 10 percent of the investment buyers.