Zillow reports an uptick in listing views for cities considered traditional vacation destinations. The listing site says it examined 20 metros with a population of at least 65,000 where the share of vacation homes is at least five times the national average. Views in these areas are up nearly 50% compared to last year. Some of these destinations include Hilton Head, SC; Key West, Fla.; and Park City, UT. The list of vacation destination cities are being favorited at a higher rate as well, and some areas are seeing favorites five to eight times more than a typical home listing.
Previous Zillow research has shown highly favorited homes sell faster and for more money, and it’s likely no coincidence that growth in pending sales activity in these areas is also outpacing the national rate. In almost three-quarters (14) of the 20 areas analyzed, year-over-year growth in pending sales in the week-ending Sept. 26 (the latest week in which data is available) was higher than the U.S. growth rate of 22.2%.
Vacation towns have always beckoned buyers attracted to natural amenities including easy ocean, lake or mountain access and robust retail and restaurant scenes serving seasonal visitors and year-round residents alike.