For second homes in America’s most affluent locations, the past year was ugly. No way else to describe it. Median home prices were down 50% in North Lake Tahoe, and 44% on Martha’s Vineyard, to cite two examples.
Last year was brutal for second homes in the nation’s most affluent areas. But the market is firming up again. Here’s our list, expanded to 20 sites, for those seeking top-tier refuges.
7. ASPEN, COLORADO: The zinc bar at Brexi Brasserie, and Eric’s Bar, are the places where Park Avenue and Bel Air escapees sit side-by-side with unshaven lift operators. The decades-old Caribou Club still doesn’t have a sign on its door, but remains packed. Lifetime members plunk down $20,000 for the “privilege” of dining next to a Kennedy or locals like Goldie Hawn and Kurt Russell. Aspen is also home to ESPN’s edgy Winter X-Games, a big draw. The market was exceptionally active last year, with the 20% drop in exclusive property prices offering clear discounts. But also know this: Twenty-two residences above $10 million, totaling $325 million, changed hands in the upper Aspen Valley.
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