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 veranda and lawn chairs at The Lodge at Sea Island fill at sunset, as a lone bagpiper retires the sun over the marsh’s sea grass. Vacationing families sup on seafood and dry-aged steak at The Lodge’s Colt & Alison eatery, while adults needing a break send the children to dinner and a movie at Sea Island “camps,” supervised by baby sitters. After dinner, nicotine cravings are satisfied in the pecky cypress-walled smoking lounge at The Cloister. Last year, home-sales volume surged, bringing in a fillip to prices, but buyers still seem wary of overpaying. The owner of Casa Genotta, once owned by playwright Eugene O’Neill, cut his asking price to $8.5 million from $10.7 million.
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