Williamson Company sees unprecedented growth in luxury second home sales

  • Compared to pre-pandemic levels, luxury second home sales have increased by 235% since Q1 2020.
  • Williamson County is the second-highest ranked area for second-home sales.
  • In Q2 2022, luxury second home transactions increased 25 percent year over year.
  • A study by Pacasso since 1980 has shown that real estate has been more stable than a typical stock market index during economic downturns or periods of uncertainty.

One segment of the real estate market that seems unaffected by rising interest rates and a lack of inventory is the luxury secondary market, which has seen unprecedented sales growth over the past two years.

Williamson County, Tenn., ranked second only to Coeur d’Alene, Idaho, for the largest year-over-year increase in luxury second home sales. Other destinations on the list include Charleston, SC, Kitsap County, WA and Orange County, Fl.

This Franklin home is an example of a multi-million dollar home that is often a second or vacation home for residents who live elsewhere full-time.  A recent study found that Williamson County, TN is a top destination for the luxury second-home market.

A survey by Pacasso Real Estate Company, which focuses on the second home market, showed sales of luxury second homes and investment properties (homes sold for $1 million or for seasonal and/or recreational use) rose 42.1 percent in Williamson County. % YoY during the second quarter of 2022.

Nationally, second-quarter growth was about 25 percent year-over-year. This increase is 235% compared to the first quarter of 2020.

Related:30A What’s Happening? The market is maturing from beach houses to heritage homes.

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