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I Second That…

July 5, 2006

Last year in Florida 40% of all residential homes sold were second homes. A new record, 3.4 million second homes were sold in 2005. That was an increase of 165 from 2004. The median price of second or vacation homes was $204,100, up 7.4% from $190,000 in 2004. The typical investment property cost $183,500 last year, up 24% from $148,000 in 2004. David Lereah, chief economist for the National association of Realtors, predicts that vacation-home sales will remain strong for the foreseeable future.

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