2005-12-29 / News

Island among the ‘priciest getaways’

Island among the ‘priciest getaways’

In the Sept. 9 edition of the New York Times, a story headlined “America’s Priciest Getaways” lists Jamestown as the 10th most expensive housing market for second home buyers in the country.

The article calls Jamestown real estate “a relative bargain” for Bostonians and New Yorkers “who have been priced out of Martha’s Vineyard and Nantucket,” the latter of which is listed as the sixth hottest market for second home buyers.

The Times lists the median home price in Jamestown at $473,000, but notes that “these days, even close to $600,000 doesn’t guarantee a view of the water.”

Places like Jamestown may fare well if the “housing bubble” bursts, the Times says, and that “the most expensive destinations . . . may see less impact, since the wealthiest home buyers often are not deterred by rising interest rates or an economic downturn.”

The top 10 communities are: Aspen, Colo., Palm Beach, Fla., Newport Beach, Calif., Water Mill, N.Y., Montoloking, N.J., Nantucket, Mass., Sullivan’s Island, S.C., Henderson, Nev., Princeville, Hawaii, Oxford, Md., Scottsdale, Ariz., and Jamestown.

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