Two NJ Shore Towns Ranked Most Popular Spots To Buy A Vacation Home
WILDWOOD, NJ (CBS) – If you're in the market for a vacation home but aren't sure where to buy, there are two nearby spots that should be on your radar – and probably already are.
According to the 24/7 Wall St., North Wildwood, NJ is the second most popular place in the country to buy a second home.
24/7 Wall St. says it looked at data provided by real estate service Trulia on the most searched places for vacation homes between April 2012 and March 2013. A place was considered a vacation area if 25% of the housing was used seasonally or occasionally according to the U.S. Census Bureau. Median home price was also a consideration.
And while real estate prices continue to rise in North Wildwood, the median asking price for a home there is a relatively affordable $289,000. Compare that to the median asking price in nearby Avalon, which is almost $2 million, and you can see why North Wildwood is considered a steal. Furthermore, the area was spared the worst of Sandy, making for a stable market.
So, what town ranked number one?
That honor goes to family-friendly Ocean City, NJ. While median home prices are the highest on the list in this shore town at $525,000, that doesn't seem to be affecting its popularity.
To see the full list, visit: http://247wallst.com/2013/05/24/the-most-popular-towns-to-buy-a-vacation-home
