These resort towns have become a permanent destination for homebuyers fleeing big cities
El Dorado County in California has been deemed the No. 1 spot to settle
A region spanning from the eastern outskirts of Sacramento, Calif., to the southern half of Lake Tahoe has become the go-to destination for city residents looking to relocate permanently during the coronavirus pandemic, according to a new Redfin report.
While El Dorado County in California has been deemed the No. 1 spot to settle, Redfin discovered a slew of popular second-home destinations that are becoming full-time residences for homebuyers, frequently city residents who have been increasingly fleeing to neighboring towns in order to ride out the now-surging pandemic with a tad more space.
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Many of these popular destinations include the Jersey Shore; Cape Cod, Mass.; Lake Tahoe, Nev.; and Bend, Ore., according to an analysis of Redfin.com.
Most out-of-area buyers looking in Sacramento were San Francisco residents, according to the report.
Grabbing the No. 2 spot is Deschutes County in Oregon, which is located roughly four hours southeast of Portland. The area provides access to the vacation towns of Sunriver and Bend, which attract hikers, bikers, fishermen, skiers and snowboarders, according to local Redfin real estate agent Angelica Webb.
Webb said these homebuyers, many of whom moved without even stepping foot in the area, "want to get out of their cramped San Francisco or Seattle apartments."
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"We've always described Bend as a second-home town, but now we're seeing it transition into a place where more people are living full time because they're no longer required to go into the office," Webb said. "We joke that it's becoming a `Zoom town.'"
East Coasters are finding permanent homes at the Jersey Shore. Ocean County, Monmouth County and Cape May County, all part of the Jersey Shore area, have become hot spots for families looking to escape New York City.
For New Yorkers, it can be an enticing change, according to local Redfin real estate agent Anthony Gonzalez.
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"City folks are coming to New Jersey with New York salaries, and they can get quite a deal here even though competition is fierce," he said. "One of my buyers recently lost out on a house because another bidder paid $75,000 over the asking price."
Redfin's ranking is based on year-over-year change in home prices, home sales, the share of homes that sold above their list price, the speed of home sales and Redfin.com searches.