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.
For people watchers, the place to be is the Tap Room at The Lodge at Pebble Beach during February’s AT&T pro-am golf tournament (formerly known as the Bing Crosby Clam Bake). It’s the 19th hole for former and current NFL quarterbacks, like Bob Griese, and film stars in between shoots, such as Owen Wilson, all just steps from the Pacific’s edge and tucked inside a thicket of the Del Monte Forest. Pebble and neighboring Carmel-by-the-Sea were once so dry that ex-mayor Clint Eastwood opened his own watering hole, the Hog’s Breath Inn.
Clint is no longer the proprietor, but locals still tip a few amid its open hearths and cobblestone courtyard. Prices in town have risen slightly, but the high end has been quiet. The exception: A manse with views near the Cypress Point Golf Club sold for around $10 million.
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