A new ranking lists the hottest markets for luxury vacation homes in the U.S., and this year, Cape May County, New Jersey, is No. 1 in the nation!
(Search All Cape May County Listings Here!)
(The famous Wildwoods' Boardwalk)
An analysis from second-home co-ownership marketplace Pacaso shared that Cape May County has grown in popularity because of its family-friend activities, nightlife, cultural experiences, and wide beaches.
The report also says that people like the fact that the beach town is close to both Philadelphia and New York.
(Historic and magnificent Beach Ave in Cape May)
Pacaso's ranking was based on increases in second-home activity, the proportion of second homes to primary homes, and demand for properties priced above $700,000.
Gulf County, Florida; Walton County, Florida; Barnstable County, Massachusetts; and Collier County, Florida, followed on the list.
Here is what they had to say in their article:
There were some shifts in the rankings for America’s hottest real estate markets for higher-end vacation homes this year compared to last, and the top spot this year saw a meteoric rise in popularity.
(The beautiful beaches of Seven Mile Island)
A fresh analysis from second-home co-ownership marketplace Pacaso revealed which U.S. counties were the hottest markets for luxury vacation homes in 2024, based on increases in second-home activity, the proportion of second homes to primary homes and demand for properties priced above $700,000.
Here were the most sought-after places for second homes in 2024, according to the findings:
1) Cape May County, New Jersey
The report showed Cape May County off the Jersey Shore catapulted from outside the top 20 last year to the title of No. 1 second home destination in 2024, and it wasn’t even close.
Cape May leads this year’s list with a staggering ratio of second homes to primary residences exceeding 150%, thanks to its iconic beach towns like Ocean City and Avalon, according to the analysis.
Pacaso attributed the area’s rise to its mix of family-friendly activities, nightlife, cultural experiences and wide beaches, coupled with its close proximity to urban hubs like New York City and Philadelphia.
(Floating tiki bar-boats)
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