Top 10 Places In U.S. To Build Second Homes; Barron’s

According to Barron’s, the luxury real estate market is springing back to life. Realty brokers in Greenwich, Connecticut, say that the last months of 2009 were record-setters in terms of sales volume.

The days of megadeals are also back. Jeffrey Katzenberg, a film producer, just bought a 8,700 square-foot home in Beverly Hills for $35 million. Barron’s believes that a stabilized economy, return of hefty pay-packages on Wall Street, and a rebound in stock market will result in people looking out for the perfect residence. Keeping this in mind, and with the summer approaching, Barron’s has prepared a list of the top 10 places in U.S. to build second homes.

Here is the list, prepared by Barron’s, of the top 10 places in U.S. to build second homes.

1. Maui in Hawaii, with a median house price of $1.5 million.

2. Kiawah Island in South Carolina, with a median house price of $1.4 million.

3. Hamptons, a long favored retreat of rich New Yorkers, with a median house price of $1.5 million.

4. Park City in Utah, with a median house price of $1 million.

5. Aspen, Colorado, with a median house price of $5.6 million.

6. Pebble Beach, California, with a median house price of $1.1 million.

7. Palm Beach, Florida, with a median house price of $3.5 million.

8. Captiva/Sanibel Island, Florida, with a median house price of $3.5 million.

9. Asheville, North Carolina, with a median house price of $700,000

10. Gasparilla Island, Florida, with a median house price of $1.8 million.

Barron’s says that the list is subjective, and that the prices are based on conversations with locals.