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.
The slopes are vertical drops and daunting chutes. About half of the mountain in the craggy Teton range is designated for “experts only,” so beginners head down these slopes at their own peril. The closest major airport is a distant 200 miles away in Salt Lake City. While the Hollywood crowd often opts for the glitz of Aspen, low-key CEOs with access to corporate jets tend to quietly slip into Jackson Hole.
The most sophisticated hangout is the rustic, but elegant, Four Seasons Resort. The Wild West meets the Food Channel at the Snake River Grill, where antelope shanks and buffalo short ribs are washed down with vintage Napa Cabernet. Sandwiched by soaring mountains and roaring rivers, Jackson Hole remains a prime base camp for some of the finest trout fishing in the country, from Wyoming’s Snake and North Platte rivers to the Bighorn and Madison rivers in nearby Montana. In 2011, 15 homes sold for more than $5 million, while several estates went for prices topping $13 million.
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