Vacation home sales jumped to a record high in 2014, according to the National Association of REALTORS. Vacation home sales climbed to 1.13 million last year and vacation homes comprised of 21 percent of all transactions in 2014 which is the highest since NAR began the survey in 2003.
Vacation homes soared but investment properties dropped for the fourth consecutive year. The market share of investment property dropped to 19% in 2014 from 20% in 2013.
Sales Prices: The median vacation home price was $150,000 which is an 11% drop from $168,700 in 2013.
Vacation Buyer Profile: Buyers purchased property that was a distance of 200 miles away and 17 percent purchased a vacation home in the mountains.
The average vacation home buyer had a household income of $94,380 which is higher than 2013 which was $85,600.
Facts About Vacation Homes
– Median square feet of a typical vacation home is 1500.
– Most popular home type – detached single family home.
Living in Murphy NC
Murphy NC is just minutes from trout streams, hiking trails, kayaking or white water rafting through the Nantahala Gorge and Ocoee. Check out the Nantahala Outdoor Center. You can also browse in one of many antique and craft shops around Murphy NC and surrounding towns, or just enjoy the sunset on your own deck in peaceful solitude. You CAN have it all!!!!! Only 2 hours from Atlanta, Chattanooga and Asheville, Murphy, NC feels like it’s from a different time and place. A time when life moved at a slower pace and people savored the simple pleasures.