Have you ever been on vacation in Massachusetts? This does not only go for the plethora of American and foreign visitors, but Massachusetts locals as well! We are so blessed to live where we do. A State that has everything from top golf courses and beaches to beautiful islands, mountains, cities and towns, there truly is something for everyone in New England and in Massachusetts in particular.
Massachusetts is a hub of education, sport enthusiasts, cultural pride and significance, historical lure, shopping and charm. The city of Boston must be highlighted as it truly is unlike any other. As the epicenter of New England, what affords Boston such praise and notoriety as a unique destination is its accessibility to many other surrounding localities of the Northeast that all in their own way offer polarizing and distinct attractions. Whether it is a vacation to enjoy shows, dine in the finest restaurants and enjoy the local fare, or if individuals are more inclined to hike, ski, or go fishing, it really is all here in Massachusetts. Thus why it comes as no surprise that vacation home sales in the Bay State have skyrocketed of late.
It was only mere months ago when we reported in a past blog how Massachusetts residents looking for a vacation home are actually now looking to purchase in their States local markets; now more than ever. Not only is the proximity to ones actual home important, but the affordability from avoiding air fares and other travel costs has become increasingly attractive. This coupled with the fact that Massachusetts can still offer all or even more vacation options than most other States can shows how this has become a win-win for many who can afford this luxury of owning another home.
A very impressive figure of 25% accounts for the improved sales of vacation or 2nd homes over the past year of 2011 through the end of August, 2012. A great reason for such optimistic news is highly due to a renewed sense of consumer confidence in the market, a better job market and an overall growing local economy allowing individuals the financial freedom and ability to purchase vacation homes again.
Looking to Cape Cod as an example where many vacation homes are sought, the first quarter of 2012 alone showed a boost of 30% in 2nd home sales over the same corresponding quarter from 2011. Another hot location, Berkshire Country, realized that from the middle of June, 2012 through the middle of this past August, there were 108 vacation properties under agreement with an additional 87 that had been sold. As a comparison, this same time period in the peak of summer for 2011 only resulted in 58 of these type of homes being sold.
Throughout Massachusetts there is a growing notion of acceptability that the market has turned around. It is becoming incredibly evident that locals and visitors alike are looking to purchase property, be it for an investment, a family home or a vacation property with current sales numbers similar to those seen back in 2007. As a result, individuals are not only looking to buy in this State due to its vast array of activities and attractions as mentioned above, but are also doing so because there is such a strong belief and statistical backing that the market is on the up. This then goes to show that such an investment in a vacation property is not only one to enjoy today but is one that looks to be profitable as we continue on into the future. Let an agent at Gibson Sothebys International Realty help you satisfy any of your Real Estate needs across our lovely State and perhaps even help in the process of making vacation home ownership your next reality.