Realtor.com lists Traverse City as fast-growing retirement town | Business
TRAVERSE CITY – Realtor.com this week listed Traverse City as one of the top 10 fastest growing retirement destinations in America.
The real estate website took into account metropolitan areas where at least a quarter of the population was at least 60 years old, according to the US census.
The article then states that the areas where the number of new residents aged 55 and over increased the most between 2014 and 2019, as well as during the same period, saw the largest increase in seasonal and holiday homes. Own property advertisements were also considered, which included terms such as “universal design” and “aging in place”.
Lakeland, Florida was listed as No. 1. The city near Tampa and Orlando has a median list price of $ 260,050, according to the article.
Traverse City was listed as No. 2. Realtor.com sets the median list price for a home at $ 419,950.
The other cities listed in the article are: Springfield, Massachusetts, $ 300,050; Coeur d’Alene, Idaho, $ 850,050; Wilmington, North Carolina, $ 382,550; Winchester, Virginia, $ 339,050; Portland, Maine; $ 451,450; Salisbury, Maryland, $ 360,050; Albany, New York, $ 360,050; and Hartford, Connecticut, $ 302,850.
More than 28 million baby boomers retired in the third quarter of 2020, according to Realtor.com. That’s 3.2 million more than in the third quarter of 2019, according to the Pew Research Center.
Property prices in Coeur d’Alene are high, the article explained, because the town’s location on a lake near a large river in the middle of mountains means residents can hike, bike, boate and ski without the house to leave.
The article on Traverse City states, “It’s great for nature lovers with public beaches, miles of bike and hiking trails, state forests, ski resorts, wineries, and more.”