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

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)

Retreat

Median 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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