TRENDS IN REAL ESTATE



VACATION HOMES: A BOOMING TREND
(From the Star Tribune May 26, 2007)

    SALES
  • Vacation home sales rose: 4.7 % last year.
  • Vacation home sales represent: 14% of the real estate market (up from 12% in 2005).
    WHO
  • Median age: 44 vs. 52 in 2005.
  • Median household income: $102,200 vs $82,800 in 2005.
    WHERE
  • Distance from primary residence: 215 miles.
    WHY
  • Close to water: 66%.
  • Water sports: 57%.
  • Boating: 38%.
  • Hunting and fishing: 32%.
    USEAGE
  • Single family house: 67%.
  • As a family retreat: 79%.
  • Primary residence in the future: 28%.
  • As rental: 18%.



 

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