The Grey (2011

HOME Is the Second-Home Market Entering a Boom?

NAR | CONTRIBUTED

Since the start of the pandemic, second homes in drive-to destinations have risen in popularity, John Burns Real Estate Consulting reports.

Numerous second-home markets are showing a climb in sales. For example, the Sierra Tahoe MLS reported its highest residential dollar volume on record in July, a 200% annual increase. Pending home sales in Bend, Ore., also jumped 150% annually in July. On the opposite side of the country, in the popular second-home market of Rehoboth Beach, Del., sales also have doubled on an annual basis.

“The psychology of ‘you only live once,’ or YOLO, is driving the surge in second-home sales,” according to a recent article posted by John Burns Real Estate Consulting. “Households who may have otherwise waited have decided now is the time to buy, often using funds that would otherwise be allocated to more traditional vacation travel. Today’s buyers are showing more interest in lifestyle and use than rental potential and future appreciation.”

The firm reports that many second-home buyers—most notably those with young school-age children—are looking for properties that are less than four hours from their primary residence. “They desire a getaway to ‘invest in family,’ as well as a place of refuge for the future,” John Burns Real Estate Consulting notes.

Prior to the pandemic, second homes were considered more for a weekend getaway, but now homeowners may be looking at these properties to enjoy for longer periods of time. If parents are working remotely and children are learning remotely, the needs for that

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SECOND HOME BOOM: “The psychology of ‘you only live once,’ or YOLO, is driving the surge in second-home sales,”.| Contributed Photo

second home may be differing, too. With longer stays in mind, buyers of second homes may place greater emphasis on ensuring highspeed internet, home offices, and learning spaces for their children, John Burns Real Estate Consulting reports.

308 Hemet / San Jacinto closed transactions for week of August 24th thru August 30th, 2020

HEMET

30166 San Jacinto Street 348 Gilia Street 4519 Ferngreen Drive 7785 Couples Way 1996 Pecan Tree Street 24843 Barito Street 41264 Mcdowell Street 963 Saw Tooth Lane 797 La Morena Drive 4019 Paul Drive 2338 Fruitvale Avenue 32945 Penny Lane 1767 Cross Gateway Street 651 San Jose Drive 40429 Revere Avenue 563 Girard Street 1198 Quartz Way 236 Appaloosa Drive 25970 San Marino Lane 41705 ornton Avenue 41864 Jennifer Avenue 27336 Nottingham Street 43681 Cyril Lane 42290 Mayberry Avenue 41847 Johnston Avenue 42789 Masonic Drive 24856 Tigris Lane 1671 Camino Sueno 41089 Sunset Lane 2250 Redwood Drive 8324 Maruyama Drive 480 Franklin St 226 Ramona Street 45768 State Highway 74 25983 Baylor Way 138 Lopez Way 24515 California Avenue 851 Curry Drive 597 Corona Street 1449 Camino Sueno 4282 Annatto Lane

SAN JACINTO

1737 Old Mill Court 950 Tulip Way 1479 Ethan Allen Circle 193 Mistletoe Avenue 1817 Rosemont Circle 1716 Vibrant 435 Camellia Way 1456 Drummer Circle 325 Peregrine Lane 831 Hewitt Street 469 Wimbledon Drive 1980 El Milagro Road 1958 Kensington Drive 433 Black Oak Court 1353 Trenton Circle 1074 Sussex Road 355 Vernon Avenue

WINCHESTER

35332 Autumn Glen Circle 36929 Avocado Court 32695 Saower Street 34630 Shallot Drive 35257 Azalea Lane 34949 Elliott Road 31360 Verde Mare Drive 32366 Hearth Glen Court 34387 Woodshire Drive 32154 DUCLAIR RD 35622 Denver Circle 31127 Brussels Street 35545 Chantilly Court 35826 Glissant Drive 32480 Quiet Trail Drive 35605 Chantilly Court 35390 Corte San Felipe 31874 Hallberg Avenue 35844 Gerard Dou St $268,000 $425,000 $150,000 $330,000 $345,000 $345,000 $237,500 $180,000 $342,000 $300,000 $310,000 $305,000 $376,000 $381,350 $171,000 $319,000 $225,000 $665,000 $600,000 $480,000 $486,000 $510,000 $489,769 $530,000 $612,000 $545,000 $469,000 $443,000 $451,000 $527,000 $440,000 $611,000 $525,000 $549,900 $820,000 $420,000 1503 SQ. FT. 2210 SQ. FT. 848 SQ. FT. 1802 SQ. FT. 1684 SQ. FT. 1850 SQ. FT. 1012 SQ. FT. 1058 SQ. FT. 2367 SQ. FT. 1672 SQ. FT. 1414 SQ. FT. 2058 SQ. FT. 1441 SQ. FT. 2239 SQ. FT. 1030 SQ. FT. 2177 SQ. FT. 1069 SQ. FT. 2BR 3BR 2BR 3BR 4BR 4BR 3BR 2BR 4BR 3BR 3BR 4BR 3BR 4BR 2BR 4BR 3BR 2BA 2BA 1BA 2BA 2BA 2BA 1BA 2BA 3BA 2BA 2BA 3BA 2BA 3BA 2BA 4BA 1BA

Murrieta, CA 92562

$ SQ. FT. BD / BA

$290,000 1200 SQ. FT. 3BR 2BA $320,000 1951 SQ. FT. 4BR 2BA $367,000 2137 SQ. FT. 5BR 3BA $290,000 1809 SQ. FT. 2BR 2BA $335,000 1876 SQ. FT. 3BR 2BA $350,000 2138 SQ. FT. 4BR 2BA $329,000 1568 SQ. FT. 3BR 2BA $330,000 1780 SQ. FT. 4BR 2BA $240,000 1332 SQ. FT. 2BR 2BA $280,000 1121 SQ. FT. 2BR 2BA $209,000 1036 SQ. FT. 2BR 2BA $340,500 1394 SQ. FT. 2BR 2BA $348,000 2491 SQ. FT. 4BR 3BA $71,000 1060 SQ. FT. 2BR 2BA $280,000 1508 SQ. FT. 3BR 2BA $365,000 1556 SQ. FT. 3BR 2BA $267,400 956 SQ. FT. 2BR 2BA $370,000 2829 SQ. FT. 4BR 3BA $375,000 2449 SQ. FT. 3BR 3BA $350,000 2279 SQ. FT. 3BR 2BA $329,000 1564 SQ. FT. 4BR 2BA $342,000 2025 SQ. FT. 4BR 3BA $159,900 1152 SQ. FT. 2BR 2BA $305,000 1710 SQ. FT. 3BR 2BA $320,000 2227 SQ. FT. 3BR 3BA $285,000 1133 SQ. FT. 3BR 2BA $380,000 2862 SQ. FT. 5BR 3BA $299,750 1782 SQ. FT. 2BR 2BA $350,000 1847 SQ. FT. 4BR 2BA $270,000 1612 SQ. FT. 3BR 2BA $410,000 2665 SQ. FT. 3BR 2BA $205,000 955 SQ. FT. 2BR 1BA $176,500 725 SQ. FT. 2BR 1BA $220,000 926 SQ. FT. 2BR 1BA $113,000 750 SQ. FT. 1BR 1BA $319,000 1861 SQ. FT. 3BR 2BA $155,000 1920 SQ. FT. 3BR 2BA $350,000 3152 SQ. FT. 3BR 3BA $143,000 875 SQ. FT. 2BR 2BA $374,900 2030 SQ. FT. 3BR 2BA $330,000 2925 SQ. FT. 4BR 4BA

Days on the Market

6DOM 1DOM 4DOM 6DOM 1DOM 4DOM 3DOM 3DOM 6DOM 3DOM 0DOM 8DOM 3DOM 22DOM 3DOM 2DOM 2DOM 9DOM 1DOM 2DOM 1DOM 4DOM 12DOM 10DOM 7DOM 2DOM 19DOM 35DOM 11DOM 22DOM 52DOM 16DOM 12DOM 10DOM 65DOM 82DOM 130DOM 40DOM 136DOM 118DOM

2355 East Florida Avenue

Hemet, CA 92544

59DOM 1DOM 2DOM 13DOM 12DOM 2DOM 4DOM 6DOM 24DOM 19DOM 3DOM 5DOM 10DOM 46DOM 11DOM 45DOM 72DOM 95DOM

3120 SQ. FT. 4BR 3288 SQ. FT. 4BR 2447 SQ. FT. 3BR 3069 SQ. FT. 6BR 3144 SQ. FT. 5BR 2789 SQ. FT. 4BR 3748 SQ. FT. 5BR 3724 SQ. FT. 5BR 4165 SQ. FT. 5BR 2320 SQ. FT. 4BR 2202 SQ. FT. 4BR 1715 SQ. FT. 3BR 2820 SQ. FT. 5BR 1838 SQ. FT. 4BR 3409 SQ. FT. 5BR 3105 SQ. FT. 5BR 3799 SQ. FT. 5BR 3603 SQ. FT. 4BR 1684 SQ. FT. 4BR 27070 Sun City Boulevard

Menifee, CA 92586

4BA 3DOM 4BA 0DOM 3BA 2DOM 3BA 4DOM 3BA 5DOM 3BA 14DOM 5BA 3DOM 3BA 20DOM 5BA 6DOM 2BA 15DOM 3BA 3DOM 2BA 19DOM 4BA 17DOM 2BA 2DOM 5BA 19DOM 3BA 29DOM 5BA 14DOM 3BA 9DOM 2BA 14DOM 31569 Canyon Estates Dr, Ste 127

Lake Elsinore, CA 92532