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Barron’s Identifies Sea Island, Georgia as Top Luxury Second Home Market

March 11, 2014

In a recent article in Barron’s, the financial magazine reports that luxury home sales and construction are picking up in some markets. Overall, the media sales price of $1 million-plus homes dropped 3.6%, but several markets saw substantial increases.

Barron’s identifies Sea Island, Georgia as the top luxury second home market. With median prices that increased 31.8% over the previous year, the Sea Island improvement bested other luxury markets like Palm Beach, Pebble Beach, Kiawah Island and Scottsdale.

While Sea Island, adjacent to St. Simons Island,  is a unique sub-market in the Golden Isles, the improvement spills over to our local economy and second-home sales in area neighborhoods.

Where America’s Top Retreats Stand in 2013* (for the full article and market list, click here to visit Barrons)

RetreatMedian Sales Price% Change
1. Sea Island, Georgia$2,175,000+31.8%
2. Palm Beach, Florida$3,360,500+13.0%
3. Hanalei, Hawaii$1,806,250+28.2%
4. Pebble Beach, California$1,537,500+17.1%
5. Martha’s Vineyard, Mass$2,306,667+13.2%
6. Park City, Utah$1,726,000+13.4%
7. Vail, Colorado$2,602,875+7.6%
8. Kiawah Island, South Carolina$1,650,000+6.5%
9. Scottsdale, Arizona$1,445,833+4.6%

*Source: Barron’s

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