Naples, Florida Tops Second Home Market Index for March 2005

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EscapeHomes.com, which offers consumers real estate tools and listings for vacation, investment and retirement homes, released the March results of itÂ?s Second Home Market Index. EscapeHomes.com created the Index to help provide ongoing visibility into this booming segment of the residential real estate market.

EscapeHomes.com, which offers consumers real estate tools and listings for vacation, investment and retirement homes, released the March results of it’s Second Home Market Index. EscapeHomes.com created the Index to help provide ongoing visibility into this booming segment of the residential real estate market. The Index provides information on trends and consumer interest, while also giving a clue as to hidden markets for real estate investment.    

“We developed the Second Home Market Index to follow changes in where people are looking for second homes. We’ve seen some interesting shifts and changes, but ultimately areas like Naples Florida and Myrtle Beach South Carolina dominate the index. Oceanfront destinations continue to be the most desirable second home locations. As you can see 7 of the 10 destinations on this month’s list are great coastal towns” said EscapeHomes.com President David Hehman.

The results are based on more than 200,000 property searches made on the EscapeHomes website, http://www.EscapeHomes.com, during the month of March, 2005.

March 2005 Top 10 Second Home Markets

1- Naples, Florida    

2- South Padre Island, Texas    

3- Myrtle Beach, South Carolina    

4- Destin, Florida    

5- Orlando, Florida

6- Tampa, Florida    

7- Florence, Oregon     

8- Napa, California    

9- Venice, Florida

10- Park City, Utah    

March found Naples, Florida moving to the top of the list, while last month’s number one town, Myrtle Beach, South Carolina dropped to the third position. South Padre Island, Texas remained in the second position while Orlando, Florida moved up to the sixth position. New to this month’s index are Park City Utah, Destin Florida, Tampa Florida, Florence Oregon, Napa California and Venice Florida.

Some changes in the March Index were due to low inventory and a lack of affordable beachfront property in Myrtle Beach. Interest in Orlando is on the rise because of a strong year round rental market and its popularity with European buyers who are taking advantage of weak U.S. dollar.

Investors comprised 34% of the Naples home seekers, while 30% are looking for a retirement home, 24% are searching for a vacation property, and 12% are planning to relocate.

“The Naples housing market is booming because the area truly offers something for everyone. It has one of the top beaches in the country, world-class fishing, a perfect tropical climate, a diverse and international population, fantastic boating, and it’s a golfer’s paradise. There is also a wide variety of housing options available ranging from $200,000 condos to $45 million homes,” explains Chris Bensen(http://www.escapehomes.com/main.aspx?tabid=59&SearchType=Advanced&Bio=1&userid=6727) with Coldwell Banker Naples North.

About EscapeHomes.com:

EscapeHomes.com, The Smart Source For Second Homes, is the only online real estate marketplace focusing exclusively on the second homebuyer and seller, bringing together people searching for vacation, investment, and retirement property with the properties and real estate professionals that meet their needs.

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Amanda Sturges
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