Troy Dean House CEO Troy Ippolito and Compass founding agent Steve Corridor discuss in regards to the chance of Elon Musk buying a property close to Mar-a-Lago, or the tech innovation hub of Miami.
There have been some shifts within the rankings for America’s hottest actual property markets for higher-end trip properties this 12 months in comparison with final, and the highest spot this 12 months noticed a meteoric rise in recognition.
A recent evaluation from second-home co-ownership market Pacaso revealed which U.S. counties have been the most well liked markets for luxurious trip properties in 2024, primarily based on will increase in second-home exercise, the proportion of second properties to main properties and demand for properties priced above $700,000.
Right here have been probably the most sought-after locations for second properties in 2024, based on the findings:
1) Cape Might County, New Jersey 
A common view of Ocean Metropolis, New Jersey. (iStock / iStock)
The report confirmed Cape Might County off the Jersey Shore catapulted from outdoors the highest 20 final 12 months to the title of No. 1 second dwelling vacation spot in 2024, and it wasn’t even shut.
BOZEMAN, MONTANA HOME TO A BOOMING REAL ESTATE MARKET
Cape Might leads this 12 months’s checklist with a staggering ratio of second properties to main residences exceeding 150%, due to its iconic seaside cities like Ocean Metropolis and Avalon, based on the evaluation.
Pacaso attributed the realm’s rise to its mixture of family-friendly actions, nightlife, cultural experiences and huge seashores, coupled with its shut proximity to city hubs like New York Metropolis and Philadelphia.
2) Gulf County, Florida 
Port St. Joe is a small city within the Florida Panhandle. (iStock / iStock)
3) Walton County, Florida
“In Florida, Gulf, Walton, and Collier counties – home to the Panhandle towns along 30A and Naples – are emerging as top luxury home destinations, offering prime oceanfront properties that are scarce in hotspots like Miami and Palm Beach,” Pacaso CEO Austin Allison instructed FOX Enterprise.
TOP HOUSING MARKETS FOR 2025 REVEALED IN NEW FORECAST
Whereas Florida’s East Coast counties like Palm Seashore (#13 on the checklist) are identified for vibrant nightlife and cultural points of interest, patrons proceed to be drawn to the exclusivity of oceanfront residing that the West Coast of the state affords households, Pacaso mentioned.
4) Barnstable County, Massachusetts 
A pair walks the shore at Coast Guard Seashore in Eastham, MA on July 21, 2020. (Craig F. Walker/The Boston Globe through Getty Photos / Getty Photos)
Pacaso mentioned Barnstable County, Massachusetts, dwelling to iconic Cape Cod, continued to see development in trip dwelling purchases in 2024.
“This legacy destination has been a popular vacation home market for decades,” he mentioned, “renowned for its charming beachside communities and historic ties to the Kennedy family, who vacationed there and own the famous Kennedy Compound.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
5) Collier County, Florida 
Naples Municipal seaside wanting north with luxurious motels and condominiums within the background. (Paul Harris/Getty Photos / Getty Photos)
Through the COVID-19 pandemic, many individuals flocked to Florida counties which can be identified for his or her trip properties because of the state’s favorable tax setting and craving for extra residing house. Collier County in Florida’s Panhandle, with an already robust marketplace for second properties, grew to become a preferred vacation spot for snowbirds. Naples and Marco Island are the extra notable cities positioned throughout the county, the place the typical second dwelling prices greater than $896,000.
