Discounts of up to 40 percent off peak in some domestic markets, in addition to a stabilizing economy, have brought a second wind to "one of the greatest luxuries of all" — the upscale vacation home, reports Barron’s.
The magazine laid out the top 10 destinations for second homes in last week’s cover based on the "gorgeous houses, spectacular views, world-class golf, fishing and skiing, fine dining and great shopping" that attract the wealthy, and broke them down by median price, drop from peak median price, and most well-known resident or occasional resident (referred to as "neighbor").
1. Maui
Median Price: $1.5 million
Drop From Peak Median Price: 27%
Neighbor: Oprah Winfrey
2. Kiawah Island, S.C.
Median Price: $1.4 million
Drop From Peak: 21%
Neighbor: Dan Marino
3. The Hamptons, N.Y.
Median Price: $1.5 million
Drop from Peak: 30%
Neighbor: Steven Spielberg
4. Park City, Utah
Median Price: $1 million
Drop From Peak: 45%
Neighbor: Robert Redford
5. Aspen, Colo.
Median Price: $5.6 million
Drop From Peak: 6%
Neighbor: Jack Nicholson
6. Pebble Beach, Calif.
Median Price: $1.1 million
Drop From Peak: 20%
Neighbor: Clint Eastwood
7. Palm Beach, Fla.
Median Price: $3.5 million
Drop From Peak: 11%
Neighbor: Henry Kravis
8. Captiva/Sanibel Island, Fla.
Median Price: $3.5 million
Drop From Peak: 40%
Neighbor: Ted Koppel
9. Asheville, N.C.
Median Price: $700,000
Drop From Peak: 38%
Neighbor: Andie McDowell
10. Gasparilla Island, Fla.
Median Price: $1.8 million
Drop From Peak: 18%
Neighbor: Harrison Ford, frequent visitor
Source: Barron’s
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