Pacaso, a service that helps people buy and co-own second homes, has revealed the five top second-home markets across the state.
Topping the list is Vashon Island, following by:
5. Port Townsend
“What’s especially surprising is the rate at which prices are rising, with four of the five top destinations in Washington up about 30 percent year over year or more. That’s a much larger increase in price appreciation than what we’re seeing in top second-home destinations across California, for example,” the company noted.
According to Pacaso, it determined the five top second-home markets across Washington by weighing several key metrics. The analysis looked at Washington cities that have a higher-than-average percentage of second homes, and weighed annual home value appreciation, inventory levels, price reductions, and time on market to determine the comparative “heat” of a given real estate market.