How Remote Work Can Power Your Vacation Home Sale

 This year, the opportunity to work remotely has increased the demand for vacation homes states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR) notes:

“Working from home is a positive factor in demand for vacation homes.”

Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, in the mountains, or somewhere in between. NAR explains:

Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home counties saw a year-over-year sales increase.”

Is it Time to Sell Your Vacation Home?

If you’ve been thinking about selling your vacation home, putting it on the market now while demand is high might be your best move. Here are two reasons why.

1. Vacation Homes Are Selling Quickly

These homes are not staying in the market for very long. NAR also notes:

In September, 68% of vacation homes sold in less than a month. Historically, about 30% sell that quickly…It’s a pretty amazing uptick compared to past years.”

2. Home Prices Are Rising

With an increase in demand, prices go up. NAR continues:

“In the third quarter, prices in vacation-home counties rose by about 32% year over year. Seventy-nine percent of these counties experienced year-over-year price gains. NAR defines a vacation-home county as one in which seasonal housing accounts for at least 20% of stock.”

West USA Realty of Prescott has a vacation home department and 2020 has had a sales increase of over 100% over 2019. if your vacation home is sitting idle, maybe not attracting as many renters as you usually see, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the time. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today. West USA Realty of Prescott has the winning formula for you.

Bottom Line

Demand is on the rise, make sure you reach out to a professional local real estate professional today that understands the vacation rental business and vacation home selling to determine your next steps when it comes to selling your vacation home.

If you like to learn more about the Prescott, Arizona real estate market, or the vacation rental business contact Mike Eastwood CEO of West USA Realty of Prescott at 928-777-8331 or visit us at www.westusaofprescott.com and Mike will introduce you to one of his professional real estate agents. If you like to search on your own, download the FREE home search app http://app.westusa.com/WUSAT1M   or stop by and visit us at https://goo.gl/maps/4y1zgMPaUTbgwcRL6 #Prescott #Prescottvalley #Chinovalley #Arizona #Phoenix #Dewey #Homesales #Arizonahomes #Prescottrealestate #chinovalleyrealestate #Prescottland #Chinoland 

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