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.
3. MARTHA’S VINEYARD, MASSACHUSETTS: Seven miles out at sea, the rich and powerful pick up lobsters from Larsen’s in Menemsha. It’s also a place to potentially bump into President Obama, whose favorite summer rental, Blue Heron Farm, sold in September for $23.7 million. The celebrity scrum is frequently avoided by escaping to Philbin Beach, dotted with nude sunbathers, or the barrier South Beach, a fine-sand sliver between the sea and salt ponds.
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