More on Vacation Home Trends and Stats

Posted by Jim Kimmons, Broker/Owner • April 9, 2009 • Printer-friendly

: Image by jimkimmons via Flickr

The Taos real estate market is unique in many ways, but not so unique that we don't experience some of the same pressures and trends in other vacation home markets. Let's bullet some recent numbers from the National Association of Realtors:

Typical vacation home buyer in 2008 was 46 years old
That buyer had a median household income of $97,200
Of those who purchased a property, 89% wanted a retreat:
- 27% did so to diversify investments
- 27% to rent to others
- 26% as a future primary residence
- 17% for use by a family member or friend

For numbers on vacation home locations, they found that:

26% in small towns
23% in a rural area
23% in resorts
20% in a suburb
8% in an urban area or central city

If nothing else, sellers in the Taos real estate market can use some of this information to re-examine their pricing. Also, if a 40ish buyer with cash is considering your home, you may want to work with them carefully, as they are the buyers nationally.