Only a small percentage of buyers in secondary home regions?

By
Real Estate Broker/Owner with Sea to Sky Premier Properties (Salt Spring)


Evening ocean view


In a recent census in the U.S., it appears that 3.5% of the housing market falls under the label "secondary home". This means recreational, occasional, seasonal usage patterns in home ownership. The largest secondary home market in the U.S. is apparently Maine.

Salt Spring Island and the Gulf Islands could be best described as secondary home markets. Summer/weekender properties, occasional use homes, retirement options waiting in the wings, investment rentals....

Yes, of course many people choose to live year round on the Gulf Islands, but there are also a significant number of "sometimes" owners...sometimes here & sometimes there.

In a large & populous country, such as the U.S., only 3.5% of the home ownership falls into this discretionary category. It would be interesting to know the correlation of Canadian second home stats.

Yes, there are some incredibly beautiful secondary home areas in Canada...Nova Scotia's Mahone Bay, Ontario's Muskoka Lakes, Alberta's Jasper, B.C.'s Gulf Islands...& Vancouver Island & the Sunshine Coast....the Pacific Northwest Coast is one of the most beautiful regions in the world.

A buyer has a lot of choice, for a discretionary purchase. Why here? Why not there? Time decisions as to when to purchase are also discretionary...no one "has to" buy a retreat or second home in any particular timeframe.

So...not that large a segment of the population looking for that retreat opportunity in the first place...and, with the internet, some place is suddenly in competition with every place...an explosion of choice can further cause time lags in decision-making.

This is a magical area, and if you've discovered this and are looking to buy, please call me.

Successfully connecting sellers and buyers since 1989, as a full time & full service real estate agent, I look forward to bringing my expertise and my knowledge (of both inventory & trends) to your benefit. Your success is my motivation.

How may I help you to buy your special Salt Spring Island or Gulf Islands property?

liread33@gmail.com

 

 

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How may I help you to discover special Salt Spring Island & the Southern Gulf Islands?   Call me!

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Vacation and Second homes
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Ambassador
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Tammy Lankford
Lane Realty - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

I would have never ever guessed Maine.  I would have thought Florida and the snow birds.  That aside, it's about 50% of my sales annually.  I work on a resort lake where some people call it home and others call it an escape.

Sep 06, 2012 09:55 AM #1
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Many of us would love to have a second home in your area.  Most of will just be dreaming.

Have an outstanding week and be sure to have your camera in hand to capture the special moments.

Sep 06, 2012 02:27 PM #2
Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hi, Tammy...good to hear from you.   Sounds like we live/work in comparable areas.

Sep 07, 2012 09:03 AM #3
Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
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Thank you, Roy...and so appreciate your flower signatures, always!

Sep 07, 2012 09:03 AM #4
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Rainmaker
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Li Read

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Call me for Salt Spring Island real estate!
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