We discover a wide range of fabulous coastal properties stretching from California and Florida to Massachusetts and New York.
The USA’s long, varied and picturesque coastline offers a multitude of prime locations for high-end property with stunning views, deep water docks and private beaches. Jeff Lee, president of Lee Real Estate, reports that real estate on Nantucket Island, the Massachusetts beach resort pricier than The Hamptons, smashed records in the first quarter as wealthy Americans planned ahead for their summer vacations.
“Almost $300 million of real estate changed hands in the first three months of 2018,” he says, “a jump of 61% from a year earlier, according to Lee Real Estate data. The $297.5 million of sales in the first quarter is the highest in 10 years of data, compared with $184.7 million in 2017. People are seeing how well their stock portfolios are doing, and they’re feeling like they can spend the money for a summer home.”
Bill Mitchell, managing director of Carmel Realty Company, tells us that Carmel’s traditional selling season runs from May through October. “Historical data suggests that June is the month with the highest number of sales,” he says, “but the market in Carmel is consistently strong year-round. What changes in Carmel more than anything is days on market, the average length of time it takes a house to sell. This number rises noticeably during the winter months.
“The Carmel Valley market is seasonal. You may laugh, but we consider Carmel Valley’s weather seasonal. Average highs range from 62 degrees in December to 80 degrees in September. And, it is a primary home market, versus a vacation homebuyer market like Carmel-by-the-Sea. Therefore, the summer months have more sales and homes stay on the market considerably longer during the winter months.”
Jim Wallace, founder and CEO of Intracoastal Realty, believes that, when it comes to real estate and lifestyle options, the counties that comprise the south-eastern North Carolina coastline offer an unparalleled richness and diversity. “No wonder Money magazine named Wilmington, NC one of ‘The Best Places to Live’ and one of ‘The Top Ten Cities in Which to Buy Real Estate’,” he says.
“The southern coastline of North Carolina boasts mild weather, natural beauty, a reasonable cost of living, and wide variety of leisure activities like golf, boating, and kayaking. These important features (and many more) are what make this area so popular with year-round residents, retirees, and second-home vacationers.”
As for Cape Cod in Massachusetts, Paul Grover, co-founder of Robert Paul Properties, says it has long been the destination for prominent Bostonians as well as beach lovers from around the world. “Unlike many other beachfront markets,” he explains, “Cape Cod has maintained a lot of its original housing, charm, and character, favouring a slow-growth model that has kept the rate of development steady. This has preserved a lot of space for both those who visit and own here, including our beloved National Seashore, authorised by President John F. Kennedy in 1961 and setting aside more than 43,000 acres as a national park for public enjoyment and coastal studies.
“This said, our homes are often not terribly new or flashy, as that’s not our character. But what they are is fabulous beachfront home on some of the best waters in the northeast. While nationally home prices have grown quickly the last few years, we’ve maintained a great and steady growth rate. Prices continue to rise as other markets have recognised our affordability (comparatively) and inventory has become thin. Of the top five sales in Massachusetts last year, three were along our coast.”
