RE/MAX of Greensboro & PartnersRE/MAX of Greensboro & Partners

Triad Real Estate: Greensboro, High Point, Kernersville, Winston Salem

RE/MAX Partners: 336.854.2400
RE/MAX of Greensboro: 336.854.0500
My Account Login | Register
  • Menu
  • Home
  • Search Homes For Sale
  • Home Valuation
  • Meet Our Agents
  • the Blog
  • Join RE/MAX
  • Contact Us

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.

Content previously posted on Keeping Current Matters

Related

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

Quick Home Search

Post navigation

« Buyer & Seller Guides – Winter 2021
An Honest Look at Unemployment Numbers »

My Account Login

Recent Blog Posts

Home Buyer Guide - Winter 2021

Home Buyer Guide - Winter 2021 Are You Thinking About Buying a Home? The process of buying a home can be overwhelming at times, but you don’t need to go through it alone. You may be wondering … Continue reading...

If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as … Continue reading...

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to … Continue reading...

There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next. … Continue reading...

Search The Blog

Search for:

News, Tips & Advice

  • Around The Home (272)
  • Baby Boomers (9)
  • Buying Myths (110)
  • Chapter 7 Bankruptcy (1)
  • Consumer Tips (1)
  • Credit Scoring (1)
  • Demographics (24)
  • Distressed Properties (24)
  • Down Payments (45)
  • Federal Reserve (29)
  • FHFA (2)
  • Financial Crisis (1)
  • Financial Reports (135)
  • First Time Home Buyers (278)
  • For Buyers (516)
  • For Sellers (415)
  • Foreclosure (1)
  • Foreclosures (29)
  • FSBOs (19)
  • Gen Z (11)
  • Generation X (5)
  • Giving Back (3)
  • Happy Thanksgiving (1)
  • Holidays (12)
  • Home Building Tips (5)
  • Home Buyer Tips (198)
  • Home Buying Tips (1)
  • Home Care (3)
  • Home Decorating (2)
  • Home Financing Tips (4)
  • Home Maintenance (1)
  • Home Mortgage (3)
  • Home Mortgage Tips (134)
  • Home Ownership (2)
  • Home Seller Tips (162)
  • Home Selling Tips (27)
  • Home Tips (1)
  • Home Values (6)
  • Homebuyer Tips (6)
  • Homeowner Tips (7)
  • Housing Analysis (184)
  • Housing Market (18)
  • Housing Market Updates (369)
  • Infographics (134)
  • Interest Rates (145)
  • Investment Properties (1)
  • Just For Fun (2)
  • Luxury Market (12)
  • Market Outlook (148)
  • Millennials (20)
  • Mortagage Tips (5)
  • Mortgage (87)
  • Mortgage Guidelines (19)
  • Mortgage Rates (150)
  • Mortgage Tips (11)
  • Move-Up Buyers (306)
  • New Construction (30)
  • News (81)
  • Personal Finance (26)
  • Pricing (210)
  • Rankings (2)
  • RE/MAX Buyer & Seller Tips (1)
  • RE/MAX of Greensboro (17)
  • Real Estate (309)
  • Real Estate 101 (10)
  • Real Estate Definitions (3)
  • Real Estate Tips (43)
  • Real Estate Trends (2)
  • Rent vs. Buy (50)
  • Selling Myths (76)
  • Selling Your Home (1)
  • Senior Market (8)
  • Short Sales (4)
  • Statistics (2)
  • Taxes (3)
  • The Economy (20)
  • Time-sensitive (15)
  • Uncategorized (13)

Home Buyer Tips

Looking For A Major Lifestyle Change? Consider Buying A ‘Micro’ Home

With the cost of a home on the rise and the concept of being sustainable becoming more popular, many people are considering moving to a smaller home to minimize their impact. It’s important, however, to consider what living small is really like before deciding that it’s the right move for you.

Around The Home

The Basic Home Security Checklist Every Home Needs

Did you realize that only around 17 percent of the homes in the United States have a security system? Leaving your residence unprotected can come back to haunt you in the future.

Home Seller Tips

Selling Your Home FHA? Learn These Tips To Ensure A Smooth Closing

Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property. While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.

© 2023 · Greensboro Real Estate Inc. dba RE/MAX of Greensboro & RE/MAX Partners

Terms of Use | Privacy Policy | *Affiliated Business Notice

Each Office Independently Owned and Operated.
Greensboro Real Estate Inc Supports Equal Housing Opportunity

RE/MAX of Greensboro BBB Business Review