Maine Counties Shine in National Second-Home Market Surge
Maine’s York County is making waves in the national ranking of second-home markets. According to Pacaso, a real estate marketplace, York County is third on the list of top 10 markets with significant increases in second-home sales.
In the past year, York County experienced a 16% rise in transactions for second homes, with an average sale price of $2.075 million. Not far behind, Cumberland County secured the fifth spot on the list, boasting a 14% increase in second-home transactions, averaging $1.7 million.
The overall leader on the list was Rhode Island’s Newport County, which witnessed a remarkable 64% surge in transaction volume. Meanwhile, Florida’s Volusia County, with Daytona Beach as its largest city, recorded a 19% increase, claiming the highest average price at $4 million.
New England dominated the list, with five out of the top 10 markets.
Pacaso, a real estate platform specializing in luxury second homes, recently released its annual “Top Second Home Markets Report.” This report not only identifies the leading luxury second-home markets for 2023 but also introduces potential markets to watch in 2024.
The report highlights the top 10 U.S. counties experiencing substantial annual increases in second-home transactions and significant year-over-year appreciation for homes priced above $1 million.
Tags: Maine, Second homes, Real estate, Luxury, Market, Counties, Trends, Transactions, Sales, Property, Pacific, Cumberland, York, Coastal, Northeast
