In Northeastern Indiana we have hundreds of lakes. It is a vacation mecca...and a second home haven for many. A recent study from the National Association of Realtors (2011 NAR Investment and Vacation Home Survey) showed vacation-home sales accounted for 10 percent of all transactions last year and investment sales were 17 percent of the overall market. Those are staggering numbers and we're holding our own in our four county region as well as our neighbors in Kosciusko and Elkhart counties.
The median vacation-home price was $150,000 in 2010, while the median investment home price was $94,000. The typical vacation-home buyer was 49 years old with a median household income of $99,500 and purchased a property that was a median distance of 375 miles from their primary residence. Investment-home buyers had a median age of 45, earned $87,600 and bought a home within a median distance of 19 miles.
Thirty-four percent of vacation-home buyers said they plan to use the property as a primary residence in the future, as did 10 percent of investment buyers.
Contact one of our REALTORS today. Visit our website http://www.neiaor.com search for a home and find one of our dedicated and professional members to assist you.
The median vacation-home price was $150,000 in 2010, while the median investment home price was $94,000. The typical vacation-home buyer was 49 years old with a median household income of $99,500 and purchased a property that was a median distance of 375 miles from their primary residence. Investment-home buyers had a median age of 45, earned $87,600 and bought a home within a median distance of 19 miles.
Thirty-four percent of vacation-home buyers said they plan to use the property as a primary residence in the future, as did 10 percent of investment buyers.
Contact one of our REALTORS today. Visit our website http://www.neiaor.com search for a home and find one of our dedicated and professional members to assist you.
