If you have the scratch, the U.S. second home market is your oyster. If you’re looking for something less pricey, however, you may have to look at spots a lot less popular than say, Nantucket, a new report from the National Association of Realtors revealed.
Vacation home sales rose 10 percent from 2015 to 2018, partly because mortgage rates have been friendly enough to allow more people to carry a second one. Also factoring in was the fact that while the median sale price for a vacation home was $178,000, you can still find a fairly nice home (albeit in less popular areas) for a little more than $20,000, the report said.
If money is no object, some of the most expensive second homes can be found in places like Nantucket County and Dukes County (which is where Martha’s Vineyard sits) in Massachusetts, where homes can be upwards of $1 million and $450,000, respectively.
Want to spend substantially less? Aroostook County, Maine, has some of the most inexpensive properties, with a median price of $21,000. Also less expensive? Median home prices are $29,000 in Gogebic County on Lake Superior in Michigan.
We took a look at the most expensive area (Nantucket County) and the least (Aroostook County) to see what you could find for their respective median prices.
Cape Cod Cutie in Nantucket County
This adorable Cape Cod may seem like a small house for just shy of $1 million, but it sits on land that is adjacent to Nantucket Land Bank property, which makes it feel incredibly private.
The three-bedroom, two-bath home has plenty of room for a home-away-from-home, but it is cozy. All three bedrooms are fairly spacious, which means (as you can see in the listing photos) you can come up with all kinds of sleeping configurations.
Lot By The Lake
So no, this isn’t a house, but when a plot of land near two lakes is only $8,900, you can build to suit in Aroostook County, which is as close to Canada as you can get and still be in Maine.
You can row to some pretty nice destinations, and you’re also close to a golf course, as well as swimming, fishing, and sled and ATV trails. You can also hike Mount Katahdin at Baxter State Park, which is nearby.
To see the full report, click here.