Vacation home facts

By JOHN EWOLDT, Star Tribune

Last update: September 9, 2008 - 6:39 AM

VACATION HOME FACTS

• Median price of a vacation home in 2007: $195,000.

• 59 percent of vacation homes purchased in 2007 were single-family homes, 29 percent condos, 7 percent townhomes or rowhouses.

• 65 percent of vacation home buyers purchased existing homes in 2007, with the remainder purchasing new homes.

• The typical vacation home buyer in 2007 was 46 years old with a median household income of $99,100, purchasing a property that was a median of 287 miles from their primary residence.

• 16 percent of vacation homes were purchased in the Midwest, 19 percent in the Northeast, 41 percent in the South, and 24 percent in the West.

Source: National Association of Realtors investment and home buyers survey

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