Killington ranked number 2 in nation as place to buy a vacation home

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Killington ranked number 2 in nation as place to buy a vacation home

Thu, 08/22/2019 - 8:35am -- tim

Killington summer music series 2018. Killington photo.

Vermont Business Magazine Vacasa, North America’s largest vacation rental management platform, has launched its second annual Top 25 Best Places to Buy a Vacation Home report, highlighting the best US destinations to invest in a vacation rental property. Killington was ranked second in the nation and Warren (Sugarbush) was number 14. The Vermont towns were the only locations ranked in the Northeast.

According to a 2019 study conducted by Vacasa, 65% of people actively in the market to purchase a vacation home haven’t decided exactly where to buy. Vacasa’s Top 25 Best Places to Buy a Vacation Home report is designed to help buyers seeking to invest in a vacation home by providing useful data, including cap rate, net operating income and median home cost.

“Buying a vacation rental property requires more consideration than simply thinking about where you’d enjoy owning a second home,” said senior director of real estate, Shaun Greer. “To maximize your investment, you’ll need to familiarize yourself with markets that have a strong rate of return and consistently high occupancy rates.”

To create the 2019 report, Vacasa analyzed home sales data in vacation destinations throughout the country, and overlaid it with actual performance data for thousands of U.S. vacation rental properties.

The top 10 markets spanned popular vacation rental destinations from coast to coast:

  1. Sevierville, Tenn.
  2. Killington, Vt.
  3. Davenport, Fla.
  4. Whittier, N.C.
  5. Kissimmee, Fla.
  6. Dauphin Island, Ala.
  7. Myrtle Beach, S.C.
  8. Key West, Fla.
  9. Fort Bragg, Calif.
  10. Big Sky, Mont.

Launched in July 2018, Vacasa Real Estate provides unbeatable service for buyers and sellers of vacation homes. Within seven months, Vacasa Real Estate opened brokerages in 11 key vacation rental markets including Key West, Fla., Lincoln City, Ore., McCall, Idaho and Scottsdale, Ariz., among others. By the end of the year, Vacasa Real Estate expects to have a total of 200 agents covering 25 key markets, in addition to the 1,400 agents in its Expert Agent Network.

Buyers who are interested in determining vacation rental earning potential for a specific property can utilize Vacasa’s Vestimator tool, and can also access several resources on buying a vacation home.

Top 25 markets for buying a vacation rental in 2019

 

Market

Median home sale price

Cap rate

1

$239,976

10.3%

2

$208,828

9.3%

3

$255,390

8.4%

4

$178,000

7.9%

5

$264,863

7.2%

6

$345,281

6.7%

7

$213,950

6.2%

8

$763,109

6.1%

9

$509,500

5.9%

10

$585,000

5.4%

11

$273,000

5.4%

12

$345,135

5.3%

13

$347,430

5.3%

14

$262,003

5.3%

15

$639,000

5.1%

16

$708,161

5.0%

17

$513,301

5.0%

18

$475,026

4.8%

19

$256,303

4.7%

20

$315,744

4.7%

21

$243,000

4.7%

22

$373,258

4.7%

23

$575,422

4.6%

24

$370,406

4.6%

25

$484,154

4.5%

About Vacasa

Vacasa is North America’s largest vacation rental management platform and offers property management and other real estate services directly and through licensed subsidiaries. Leveraging industry-leading technology, Vacasa maximizes revenue for homeowners and its partners, and provides unforgettable experiences for guests. Founded in 2009, Vacasa and its subsidiaries manage a growing portfolio of more than 14,000 vacation homes in the U.S., Europe, Central and South America, and Africa. In 10 years, Vacasa has grown to more than 3,300 employees, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit www.vacasa.com.

Source: August 20, 2019 PORTLAND, Ore.--(BUSINESS WIRE)--Vacasa