Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – June 2021

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– Scottsdale Luxury Home Market Performance for June 2021 –

While sales activity remained incredibly strong, we did see sales taper off in two of the four price ranges we track.

Also, we saw UCB contracts and pending sales fall in almost every category. This could be due to several factors, including low inventory, price appreciation, buyer burnout, as well as seasonality. These decreases will definitely impact July’s sales figures.


The market has started to shift a little bit, but Scottsdale is still a sellers’ market.

This report covers Scottsdale’s luxury home market. All of these homes were on the market for $1 million or more. To get a better sense of how this market is actually performing, we have broken the data down into four price ranges. T.

Each month, we look at the following things:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – The number of home sales.

– June 2021 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

Scottsdale Homes for Sale between $1 and $1.5 million June 2021

– Active Scottsdale Homes on the Market: The number of homes for sale at this price point has been slowly climbing over the past few months, which is great news for buyers.
– UCB Scottsdale Home Sales: UCB contracts fell almost 17% between May and June and came in below the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were up almost 8% and were on par with the 12 month average.
– Scottsdale Homes Sold: Sales fell to 95 after several very strong sales months.
– Sales Price to Listed Price: 100.1% – On average, buyers paid 0.1% over asking prices.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

Scottsdale Homes for Sale between $1.5 and $2 million June 2021

– Active Scottsdale Homes on the Market: After seeing an uptick in May, the number of homes for sale at this price point fell again.
– UCB Scottsdale Home Sales: The number of UCBs was down almost 27% from May’s performance.
– Pending Scottsdale Home Sales: Pending sales were also down in June, but they were still tracking higher than the 12 month average.
– Scottsdale Homes Sold: We saw the most sales on record at this price point in June. Compare this to last July where there were only thirty-six sales.
– Sales Price to Listed Price: 100.1% – On average, buyers paid a premium of 0.1%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

Scottsdale Homes for Sale between $2 and $3 million June 2021

– Active Scottsdale Homes on the Market: Inventory was up over 9% between May and June, a positive for buyers.
– UCB Scottsdale Home Sales: Again, we saw UCB contracts fall off for the third month in a row.
– Pending Scottsdale Home Sales: Pending sales were down almost 24% and they too have been tapering off for a few months.
– Scottsdale Homes Sold: Sales were up to the second highest level we have seen in this price point.
– Sales Price to Listed Price: 98.7% – On average, buyers saw a discount off of list price of 1.3%.

Scottsdale Homes Priced $3,000,000+

Scottsdale Homes for Sale over $3 million June 2021

– Active Scottsdale Homes on the Market: Inventory dropped again after being somewhat higher for the last few months.
– UCB Scottsdale Home Sales: As we have seen in other price points, UCBs were down in June.
– Pending Scottsdale Home Sales: Pending sales were level.
– Scottsdale Homes Sold: The number of homes sold was down almost 14 % in June after coming off the highest sales month we have seen.
– Sales Price to Listed Price: 96.3% – On average, buyers saw a discount off of list price of 3.7%.

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2021 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2021 Heather Tawes Nelson | Joyce Tawes

Things To Do In Scottsdale – August 2021

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Summer months mean fewer events and things to do, but here are fun things to do in August in Scottsdale and around the Valley. 

Here are some ideas for things to do in and around Scottsdale for the month of August. 

Spring Training 2020
  • Bye, Bye Summer Bash at Desert Ridge – August 5th – This back to school bash will take place at the Splash Pad and there will be entertainment, prizes, photo ops and you can decorate your school supplies. They are also doing a school supply drive if you have extras.
  • Catch at Concert at Talking Stick Resort – August has a bunch of concerts coming up from King Crimson, to Cheap Trick, to Los Lobos and more.
  • Cool Off and Have Fun at the Great Wolf Lodge – Take a local break at the Great Wolf Lodge. Stay in one of the themed rooms or they now have Day Passes you can purchase.
  • Scottsdale’s Museum of the West – If you have not had a chance to visit Western Spirit in Old Town Scottsdale, it should be added to your list. It is home to an impressive collection of western art, history and artifacts.
  • Summer Fridays at Scottsdale Quarter – Friday mornings through August 20th – Grab your little ones and head to Scottsdale Quarter. Each week is a new theme and there will be a DJ, sno cones, the splash pad and water toys. This is a fun way to cool off!
  • Catch a Diamondbacks Game – Throughout August – There are lots of Diamondbacks games throughout the month! They have home games against the Giants, Dodgers, Padres and Phillies.
  • Summer at the Desert Botanical Garden – Ongoing – Come experience the Garden after hours with Flashlight Nights every Saturday or enjoy music and ambiance with the Soronan Sippin‘ events on select dates.
  • Live Music at The District in Desert Ridge – Friday and Saturday nights – All kinds of musical genres will be on the stage in August and beyond. Visit the website to see who will be playing. 
  • Wonderspaces Arizona – Wonderspaces features wonderful and unique art installations that change throughout the year. 
  • Staycation Deals Are Here! – Summer 2021 – When the summer arrives, local hotels and resorts start offering exciting packages for locals looking for a staycation. AZ Big Media compiled a list of the Top 25 Staycation Deals for Summer 2021. Take a look and see which ones look the most tempting!

As always, if you have other events going on that you would like to highlight, please feel free to add them to the comment section. 

Disclaimer: Please check with the event venue to make sure the event is happening as scheduled. Some of these events require a paid ticket and may have safety restrictions in place.

Phoenix and Scottsdale AZ Luxury Condo Sales – June 2021

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– Luxury Condo Sales in Scottsdale and Phoenix – June 2021 –

Luxury condos in Scottsdale and Phoenix are still selling at a brisk pace, but we are seeing new UCB contracts fall off. A large drop in the number of units for sale in May may have played a part in this.

Here is an overview of the luxury condo market in June in Scottsdale and Phoenix. All of the condos in this report had been on the market for $1 million or more.

ACTIVE LISTINGS AT THE END OF JUNE

The number of luxury condos for sale at the end of June was up slightly to thirty-eight. This is good news for people looking to buy.

The highest-priced condo on the market has held this spot for many months now. It is a two bedroom, three bathroom, 4,817 square foot unit Two Biltmore Estates. It was listed for $3,150,000.

The lowest-priced luxury condo for sale was in Esplanade Place in Phoenix. It was a two bedroom and bathroom unit with 2,417 square feet. It was listed for $1,025,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

After having nine homes in UCB status at the end of May, there were only four at the end of June. Three of the four were located in Scottsdale.

UCB Condos in Scottsdale

UCB Condos in Phoenix

  • Portland on the Park – Two bedrooms and two and one-half bathrooms, 2,105 square feet. Asking price was $1,275,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

All of the pending sales at the end of June were located in Scottsdale. There were sixteen in total and ten of them were located within the Seven community at Desert Mountain.

Scottsdale Pending Luxury Condos

  • Seven at Desert Mountain
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,515,800.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,530,700.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,547,934.
    • Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300.
    • Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,750,300.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,774,200.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,787,350.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,835,850.
  • The Reserve – This is a new community that had two pending sales.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,000,113.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,016,000.
  • Optima Camelview – There were two pending sales at Optima Camelview in Downtown Scottsdale.
    • Three bedrooms, two bathrooms, 1,930 square feet. Asking price was $1,250,000.
    • Three bedrooms, three and one-half bathrooms and 3,021 square feet. Asking price was $1,595,000.
  • Optima Kierland – Two bedrooms, two and one-half bathrooms, 3,393 square feet. Asking price was $2,075,000.
  • ICON at Silverleaf – Two bedrooms, two and one-half bathrooms and 2,689 square feet. Asking price was $2,100,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Thirteen luxury condos sold in June. Ten of them were in Scottsdale and the remaining three were in Phoenix.

Scottsdale Luxury Condo Sales

  • Optima Camelview – Five units sold in Optima Camelview in June
    • Two bedrooms, two and one-half bathrooms and 1,914 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
    • Five bedrooms and bathrooms, 4,835 square feet. Asking price was $2,895,000 and it sold for $2,775,000.
    • Three bedrooms, three and one-half bathrooms, 2,501 square feet. Asking price was $1,495,000 and it sold for list price.
    • Four bedrooms, three and one-half bathrooms, 3,680 square feet. Asking price was $2,395,000 and it sold for $2,775,000 – almost 16% over asking!
    • Three bedrooms, two bathrooms, 1,908 square feet. Asking price was $1,170,000 and it sold for $1,050,000.
  • Optima Kierland – Two units sold in Optima Kierland in June.
    • Three bedrooms and bathrooms, 2,018 square feet. Asking price was $1,469,000 and it sold for $1,395,000.
    • Three bedrooms and bathrooms and 2,018 square feet. Asking price was $1,595,000 and it sold for $1,580,000.
  • Landmark Condominiums – Three bedrooms and bathrooms, 2,548 square feet. Asking price was $1,048,000 and it sold for $1,020,000.
  • 3rd Avenue Lofts – Two bedrooms, two and one-half bathrooms, 3,893 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
  • Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,299,500 and it sold for $1,250,000.

Phoenix Luxury Condo Sales

  • Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,175,000 and it sold for $1,100,000.
  • Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,345,000 and it sold for $1,275,000.
  • Two Biltmore Estates – Four bedrooms, four and one-half bathrooms, 3,860 square feet. Asking price was $2,650,000 and it sold for $2,525,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2021 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright ©2021 Heather Tawes Nelson | Joyce Tawes

Housing Supply Is Rising. What Does That Mean for You?

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Housing Supply Is Rising. What Does That Mean for You? | MyKCM

An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:

“It looks like inventory may have hit a bottom (we’ve seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.”

To put it into perspective, the graph below shows levels of inventory rising since the beginning of the year:Housing Supply Is Rising. What Does That Mean for You? | MyKCMThe Scottsdale real estate market is seeing inventory creep up a little bit each month, but we are still well below regular inventory levels. However, seeing the number of homes for sale increase is great for Scottsdale buyers who have been sujected to multiple offers and bidding wars. 

We’re still not close to a balanced market, which would be a 6 months’ supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thing: what does that mean for me?

Buyers: More Options Are Arriving, so It’s Time To Act

If you’re a buyer, more inventory coming to market is a welcome sight. More supply means more options and less competition, which could mean fewer bidding wars.

According to the latest Monthly Housing Market Trends Report, supply levels are continuing to increase, which is different from the typical summer market:

“In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housing market.”

This is especially true with the Scottsdale real estate market. We typically see inventory drop during the warm summer months as home sellers take their homes off of the market. But since there are so few homes for sale right now, sellers have opted to list during the summer. 

If you’re having trouble finding your next home, this increase in inventory should give you the hope and motivation to keep your buying process moving forward. Experts project mortgage rates will begin increasing, which will make purchasing a home less affordable as time passes. You can still capitalize on today’s low interest rates, so stick with your search as more homes come to market.

Sellers: Our Supply Challenges Aren’t Over Yet, so Now Is the Time To Sell

If you’ve been putting off selling your house, you shouldn’t wait much longer. The year’s month-over-month gains in homes for sale have helped buyers, but we’re still very much in a sellers’ market.

As the graph below shows, even with the number of homes for sale rising, we’re still well below the supply levels we’ve seen historically:Housing Supply Is Rising. What Does That Mean for You? | MyKCMOf course, more homes are coming to market now, and more are expected in the coming months. Selling your house this summer gives you the chance to get ahead of the competition and maximize your sales potential before more homes are put up for sale in your neighborhood.

Bottom Line

More homes for sale means more options for buyers and more competition for sellers. Whether you’re looking to buy or sell, let’s connect today to discuss your options and why it’s still a good time to make your move

Quick Video Update of the Scottsdale Real Estate Market – June 2021

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– June 2021 Scottsdale Housing Market Video –

June was another good month for home sales for Scottsdale, even though there were so few homes for sale.

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of June.

June 2021 – Video

Scottsdale Active Listings

Scottsdale homes for sale June 2021

Inventory is still well below where we were at this time last year and homes are still selling quickly.

June ended with 573 homes on the market, 110% lower than last year. However, inventory was up 6% between May and June. This is good news for the many homebuyers out there who have been frustrated with the small number of homes for sale.

Median List Price for Scottsdale Homes

Scottsdale homes median list price June 2021

The median list price is the exact midpoint price of all of the homes on the market. One half of the homes are priced higher and one half are priced lower.

Junes’s median list price was $1.38 million. This is down from May 2021’s $1.4 million, but up quite a bit from last June’s $1.1 million.

Days on Market

Scottsdale homes days on market June 2021

Days on Market (also called DOM) is a quick way to test the “heat” of a market. When you see a high DOM, that indicates that homes are taking a while to sell. A low DOM indicates that homes are selling at a more rapid pace.

Scottsdale’s Days on Market was 35 days, down 2 days compared to April and May which both came in at 37 days. Last year, the DOM was 78, which represents a drop of 55%.  

Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price June 2021

This section covers the median sales price, as opposed to the list price.

June’s median sale price in Scottsdale was $876K. Although this is a drop from May 2021’s $919K, it was significantly higher than June 2020’s $635K.

Number of Homes Sold

This last section looks at home sales on year-over-year basis as well as a month-over-month basis.

Scottsdale Home Sales June 2020 versus 2021

600 homes sold in June, which is a very strong performance. It closed 15% higher than May 2020. May 2020 is when we saw the real estate market returning and 520 homes were sold.

Scottsdale home sales May and June 2021

Comparing month-over-month sales performance, sales were down by 5%. I think this decrease may be a combination of Iow inventory and higher prices combined with a little seasonality.

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

Disclaimer: Data deemed to be accurate, but is not guaranteed.

Scottsdale AZ Single Family Home Sales – June 2021

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-June 2021 Scottsdale Homes for Sale and Home Sales –

Even though the Scottsdale real estate market is quite hot, we are starting to see sales activity taper off a little bit. This could be due to higher competition and higher home prices and/or some seasonality creeping in. Typically, sales start to slow down during the summer months.

SCOTTSDALE HOME SALES ACTIVITY – JUNE 2021

Each month, we pull the information on the following four items:

– Single-family homes for sale – Orange Line – The number of homes on the market at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes showing UCB at the end of the month.*
– Pending home sales – Yellow Line – The number of pending contracts at the end of the month.*
– Home Sales – Blue Line – The number of home sales during the month.

JUNE 2021 RESULTS

Scottsdale home sales June 2021
  • Scottsdale Homes for Sale: The number of homes for sale crossed the 500 threshold for the first time since December 2020. This is good news for home buyers, but we are still in dire need of additional inventory.
  • UCB (Under contract, accepting backup offers): The number of UCB contracts fell to its lowest level in the past year. Some of this is due to low inventory and some is due to buyers pulling back.
  • Pending Homes Sales in Scottsdale: Pending sales fell about 11% between May and June. However, this was still a solid performance.
  • Scottsdale Home Sales: Home sales fell just under the 600 mark after three exceptional months. I do think the lack of inventory is a partial factor in this.

Below are two more things we track on a monthly basis:

Scottsdale real estate market June 2021

Percent Change Month Over Month – This compares the current month’s performance with the previous month’s performance. As you can see the number of active homes for sale were up 6.9% at the end of June compared to the end of May.

Sales Price to List Price – This compares actual sales prices with what the homes had been listed for. In June, Scottsdale came in at 99.8% of asking prices. However, when you drill down for June, on average, homes with list prices up to $2,000,000 sold for over asking!

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Curious about your buying power? Click on the link to learn more.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2021. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2021 Heather Tawes Nelson | Joyce Tawes

5 Things Homebuyers Need To Know When Making an Offer

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5 Things Homebuyers Need To Know When Making an Offer | MyKCM

When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer.

1. Know Your Numbers

Having a complete understanding of your budget and how much house you can afford is essential. That’s why you should connect with a lender to get pre-approved for a loan early in the homebuying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war.

2. Brace for a Fast Pace

Today’s market is dynamic and fast-paced. According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days – that means from start to finish, a house for sale in today’s climate is active for roughly 2.5 weeks. A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as you find the right home for your needs, that agent will help you draft and submit your best offer as quickly as possible.

3. Lean on a Real Estate Professional

While homebuying may seem like a whirlwind process to you, local real estate agents do this every day, and we know what works. That expertise can be used to give you a significant leg up on your competition. An agent can help you consider what levers you can pull that might be enticing to a seller, like:

  • Offering flexible rent-back options to give the seller more time to move out
  • Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home

It may seem simple, but catering to what a seller may need can help your offer stand out.

4. Make a Strong, but Fair Offer

Let’s face it – we all love a good deal. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. According to Lawrence Yun, Chief Economist at NAR:

“For every listing there are 5.1 offers. Half of the homes are being sold above list price.”

In such a competitive market, emotions and prices can run high. Scottsdale and the surrounding areas are no exception. We are seeing multiple offers and sales prices that exceed the asking price. Use an agent as your trusted advisor to make a strong, but fair offer based on market value, recent sales, and demand.

5. Be a Flexible Negotiator

If you followed tip #3, you drafted the offer with the seller’s needs in mind. That said, the seller may still counter with their own changes. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Just remember, there are certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

When it’s time to make an offer, it’s important to consider not just what you need, but what the seller may need too. Let’s connect so you have expert advice on this step in the home buying process to put your best offer on the table.

 

Demand for Vacation Homes Is Still Strong

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The pandemic created a tremendous interest in vacation homes across the country. Throughout the last year, many people purchased second homes as a safe getaway from the challenges of the health crisis. With many professionals working from home and many students taking classes remotely, it made sense to see a migration away from cities and into counties with more vacation destinations.

Arizona definitely saw an uptick in sales during this time. Our excellent weather and large number of outdoor pursuits made it a great choice for vacation home hunters. 

The 2021 Vacation Home Counties Report from the National Association of Realtors (NAR) shows that this increase in vacation home sales continues in 2021. The report examines sales in counties where “vacant seasonal, occasional, or recreational use housing account for at least 20% of the housing stock” and compares that data to the overall residential market.

Their findings show:

  • Vacation home sales rose by 16.4% to 310,600 in 2020, outpacing the 5.6% growth in total existing-home sales.
  • Vacation home sales are up 57.2% year-over-year during January-April 2021 compared to the 20% year-over-year change in total existing-home sales.
  • Home prices rose more in vacation home counties – the median existing price rose by 14.2% in vacation home counties, compared to 10.1% in non-vacation home counties.

This coincides with data released by Zelman & Associates on the increase in sales of second homes throughout the country last year.

As the data above shows, there is still high demand for second getaway homes in 2021 even as the pandemic winds down. While we may see a rise in second-home sellers as life returns to normal, ongoing low supply and high demand will continue to provide those sellers with a good return on their investment.

Bottom Line

If you’re one of the many people who purchased a vacation home during the pandemic, you’re likely wondering what this means for you. If you’re considering selling that home as life returns to normal, you have options. There are still plenty of buyers in the market. If, on the other hand, you want to keep your second home, enjoy it! Current market conditions show that it’s a good ongoing investment.

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