The Wall Street Journal reported recently that the sales of vacation homes across the U.S. soared in 2010. The article said the increase was due to deep price discounts, cash purchases, and buyers' rising stock portfolios.

According to the National Association of Realtors, one in 10 real estate sales in 2009 was for the purchase of a vacation home. The statistics for 2010 will not be out until March, but that ratio is expected to remain.

Cape Cod was highlighted in the Journal article as one of the vacation areas where both the number of sales and the average price both increased. Cape Cod's sales were up 9% from 2,832 in 2009 to 3,088 in 2010, while prices rose 7%. Needless to say, this is good news for Cape Cod homeowners.

In spite of the positive news for sellers, it is still a buyer's market on Cape Cod. The large inventory, historically low interest rates, and a large number motivated sellers mean that there are many good values to be found.

Tags: Cape Cod , Condominium , condos , cottage , empty nesters , Falmouth , first-time buyers , first-time homebuyers , homes , NAR , National Association of Realtors , real estate , second homes , statistics , vacation , vacation homes

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