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Emerging Second Home Markets

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In 2004, EscapeHomes.com did some market research to find the top ten emerging markets for people buying second homes. These markets are off the beaten path, but they are beautiful areas and quaint towns that are close enough to major metropolitan areas. This research showed that the people who were buying second homes to use themselves were more apt to buy in this type of market, while the people who were buying second homes to use as investment properties were usually more interested in major metropolitan cities and tourist destinations. Following are the top ten emerging markets for second home buyers, as of 2004. They are listed in alphabetical order.

1. Burnside, KY - near Lexington, KY and Nashville and Knoxville, TN
2. Caribou, ME - near Quebec, Canada
3. Ely, MN - near Duluth and Grand Rapids, MN
4. Island Park, ID - near Bozeman, MT and Jackson, WY
5. Ketchikan, AK - near Juneau, AK and Seattle, WA
6. Lake Martin (Alexander City), AL - near Birmingham and Montgomery, AL and Atlanta, GA
7. St. George, UT - near Las Vegas, NV and Salt Lake City, UT
8. Sisters, OR - near Portland and Eugene, OR
9. Waterville Valley, NH - near Concord, NH, Montpelier, VT, and Augusta, ME
10. White Mountain, AZ - near Phoenix, AZ

Next Page: What makes these markets so attractive?

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