Pacaso, the technology-enabled real estate marketplace, has released its 2023 marketplace resale report, showcasing the success of its co-ownership model in luxury second home markets. According to the report, Pacaso homes have seen historic resale gains of over 10% from the time of purchase to the time of reselling.
The report highlights the top ten resale markets for Pacaso homes, ranging from Hilton Head, S.C. to Lake Tahoe, Calif. These markets have seen impressive returns, with Hilton Head leading the pack at a staggering 43.1% resale gain, followed closely by Telluride, Colo., at 25.7%. Napa and Sonoma, Calif., continue the trend with a 23.1% resale increase. Other notable markets include Palm Springs, Calif., Park City, Utah, and Malibu, Calif., each achieving robust price increases of over 17%. Fort Lauderdale, Fla., also stands out with a 16.3% gain.
Pacaso operates in 40 destination communities worldwide and boasts a community of over 1,500 satisfied owners. Their impressive cumulative revenue from Pacaso home real estate has exceeded $1 billion.
CEO and Co-Founder Austin Allison emphasizes Pacaso’s mission to make these coveted destinations accessible to aspiring second home owners. Their co-ownership model significantly reduces the entry threshold for buyers to own a luxury property. Allison also highlights the streamlined process of buying, owning, and selling a Pacaso, with a resale process that offers flexibility and simplicity. Owners can sell their ownership interest at any time and set their desired price based on a comparative market analysis provided by a dedicated Pacaso resale expert.
To facilitate the resale process, Pacaso taps into an existing pipeline of buyers and markets the homes on their marketplace and third-party websites. The company’s growing demand has led to extensive waitlists of potential buyers. Dedicated resale experts provide regular sales updates and ensure a swift closing process.
Furthermore, Pacaso owners enjoy added flexibility with the option of Home Transfer Benefit™. This benefit allows owners to switch their ownership to a different Pacaso home within the first year of ownership without hassle.
Overall, Pacaso’s 2023 marketplace resale report demonstrates the success of their co-ownership model in Western second home markets. With impressive resale gains and a streamlined process for buyers and sellers, Pacaso continues to redefine luxury real estate ownership.
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