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How Remote Work Can Power Your Vacation Home Sale

How Remote Work Can Power Your Vacation Home Sale | Simplifying The Market

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 let’s discuss your next steps when it comes to selling your vacation home.

Posted in: For Sellers, Housing Market Updates, Luxury Market

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Albuquerque Area Zip Codes We Serve

  • 87001 Algodones
  • 87002 Belen
  • 87004 Bernalillo
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  • 87031 Los Lunas
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  • 87059 Tijeras
  • 87068 Bosque Farms
  • 87102 Albuquerque
  • 87104 Albuquerque
  • 87105 Albuquerque
  • 87106 Albuquerque
  • 87107 Albuquerque
  • 87108 Albuquerque
  • 87109 Albuquerque
  • 87110 Albuquerque
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  • 87112 Albuquerque
  • 87113 Albuquerque
  • 87114 Albuquerque
  • 87120 Albuquerque
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  • 87122 Albuquerque
  • 87123 Albuquerque
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  • 87144 Rio Rancho
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    Venturi Realty Group - Keller Williams Realty

    1119 Alameda Blvd NW Albuquerque, NM 87114

    (505) 448 8888
    info@welcomehomeabq.com

    KW Main Office Location

    6703 Academy Blvd NE Albuquerque NM, 87109

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