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.
10. PARK CITY, UTAH: The best time to ski is in mid-January during the Sundance Film Festival, because nobody is on the hill. But don’t try to get a dinner reservation at Robert Redford’s Zoom, a downtown icon. After the starlets and poseurs drawn to the festival have decamped their “Occupy Park City,” part-time residents and locals reclaim the Old West mining town for the rest of the year. Media types like Conan O’Brien have been seen in the glassy cube that is the St. Regis Resort, while West Coast techsters are frequently spotted in the lounge filled with overstuffed couches at the Montage. Talk of the town: A four-bedroom residence at the Montage sold for $8 million last year, a $2 million drop from the original asking price.
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