This article is reprinted with permission from The Escape Home, a newsletter for second home owners and those who want to be. Subscribe here. © 2021. All rights reserved.
Major city dwellers in the US trying to overcome the pandemic have shifted their search for vacation homes from the flashy trendy locations to remote areas. Call it extreme social distancing.
The shift – towards small and rural towns – is mainly due to price and because more middle-class families, not just the affluent, are eager to join the movement, said Monica Neubauer, a real estate agent and podcast host for the National Association. from brokers.
In established vacation home markets, such as Jackson Hole, Wyoming or Nantucket, Massachusetts, prices have moved “above what normal people can afford,” said Ms. Neubauer. Alternatively, she said, more people are looking at small towns near state or national parks that are affordable yet provide a retreat from city life.
The Escape Home wanted to know which specific locations are most popular with buyers and potential buyers. So we asked Redfin RDFN,
the technology-driven real estate brokerage, to help us find out. The results are somewhat surprising.
Redfin looked at micropolitan areas, which the government defines as a province with at least one city with a population of between 10,000 and 50,000, often surrounded by even smaller towns or villages.
Redfin also thought of rural areas. The company’s economists then compiled a list of the areas with the largest percentage increase in searches on the Redfin.com website in the fourth quarter of 2020 compared to the same quarter in 2019.
The top location on the list turned out to be Marshall County, Ala. Including Lake Guntersville, Alabama’s largest lake at more than 69,000 acres and home to a thriving vacation home market fed by the thriving city of Huntsville. The area includes Lake Guntersville Resort State Park, which sits along the banks of the Tennessee River and is considered a resort-style getaway.
The second most surprising find on the list is the number of times locations in New Hampshire have appeared. In fact, it seems the state of “Live Free or Die” is conquering the hearts, minds and purses of a growing number of families looking for change. Of the top 20 locations, six were in New Hampshire, more than any other state.
Redfin also compiled a list of micropolitical areas with the highest total number of searches in the fourth quarter. Of the top 20 locations on that list, Washington state dominated with seven locations, but New Hampshire came in second with four locations.
|
Small towns and counties with the greatest change in page views |
Percentage change 2019-2020 |
|
Mashall, Ala. |
2817% |
|
Dodge, Neb. |
707% |
|
Douglas, Minn. |
637% |
|
Otter Tail, Minn. |
583% |
|
Klamath, Ore. |
567% |
|
Jasper, Iowa |
400% |
|
Cherokee, okay. |
379% |
|
Cheshire, NH |
372% |
|
Becker, Minn. |
368% |
|
Essex, Vt. |
362% |
|
Harlan, Ky. |
360% |
|
Grafton, NH |
348% |
|
Sullivan, NH |
339% |
|
Belknap, NH |
336% |
|
Franklin, Kan. |
330% |
|
Wayne, Ind. |
322% |
|
Beltrami, Minn. |
316% |
|
Merrimack, NH |
311% |
|
Carroll, NH |
311% |
* Percentage change in page views from Q4 2019
Source: Redfin
Why New Hampshire?
Buyers flock to New Hampshire for a variety of reasons. The state ranks as one of the least taxed states in the nation. It has no income tax or sales tax. It also has favorable property laws, a major problem for wealthy retirees. According to crime statistics from the FBI, New Hampshire has one of the lowest violent crime rates. Only two other states, both also in New England – Vermont and Maine – had lower crime rates than New Hampshire last year.
House prices are of course also a consideration. In Cheshire County, home to several colleges and located on the southern Massachusetts border, the median home price was $ 272,000 in December, almost 24% higher than December 2019, according to the New Hampshire Realtors Association. Sales volume increased by 30%.
Redfin’s data shows page views for Cheshire are up 372%, the highest of any smaller location in the state.
The new Colorado?
Buyers are also drawn to New Hampshire’s reputation as a place where you can combine work and play, and where recreational activities include boating, skiing, hiking and biking, said Christopher Masiello, CEO of the Masiello Group in Bedford. NH. His real estate agency closed 7,500 home sales transactions last year; about half were holiday homes.
Mr. Masiello says many buyers moving to New Hampshire want to mimic the outdoor lifestyle often associated with western states, but want to stay on the East Coast. That explains why he and others refer to New Hampshire as “New Colorado” on the East Coast.
“New Hampshire and basically all of Northern New England – New Hampshire, Maine, and Vermont – have similar lifestyle traits to Colorado,” which “is generally considered a popular place to relocate and is typically listed among the best places to relocate. to live.”
That may be, but keep in mind that cold air in humid locations such as the Northeast to feel colder than cold air in dry locations in western states like Colorado. So you may not be spending as much time outdoors in the Great North as you think. Unless you apply that tax savings to a new hot tub.
This article is reprinted with permission from The Escape Home, a newsletter for second home owners and those who want to be. Subscribe here. © 2021. All rights reserved.