Pacaso: 10% Resale Gains in Vibrant Marketplaces

As we approach our third birthday (cue the confetti) in October, it’s a great time to reflect on the vibrant marketplace we’ve built at Pacaso, starting with resales. Offering owners the flexibility to seamlessly resell their ownership interest, Pacaso simplifies the process by tapping into an established network of eager buyers, providing comprehensive marketing, and a team of dedicated resale experts to streamline the resale journey for all our valued owners.As the leader in second home co-ownership, we have achieved an impressive historical resale gain, surpassing 10% on resale share prices within our 40-destination marketplace.Now, let's dive into the data and explore the top 10 hottest Pacaso resale markets in company history. These are the markets that are seeing the biggest price gain for the resale of their share.

These are Pacaso’s top historical resale destinations

To determine the top resale markets in the Pacaso marketplace, Pacaso analyzed its second home resale transaction historical data. Here are the top 10 destinations that have the largest percentage of increase to date.

Source: Pacaso analysis of historical second home resale transaction data from June 2021 through August 31, 2023. Please note, past performance is not a guarantee of future performance.

1. Hilton Head, South Carolina

Hilton Head, one of Pacaso’s initial destination communities on the east coast, boasts the company's most substantial resale gains. Pacaso's co-owned homes in Hilton Head showcase an outstanding average resale increase of 43.1%. This data comes from a single resale example, Whistling Swan, which is the third-ever property listed on Pacaso's marketplace. Initially offered at $489,000 in January 2021, it later resold in 2023 for a remarkable $700,000.

2. Telluride, Colorado

Pacaso homes in Telluride, Colorado, secure the second position with an impressive average resale gain of 25.7%.

3. Napa and Sonoma, California

Pacaso homes in the Napa and Sonoma Valleys showcase a combined average 23.1% resale gain.

4. Breckenridge, Colorado

Pacaso historically averages an impressive 20.1% gain on its resale listings in Breckenridge, Colorado.

5. Palm Springs, California and Park City, Utah

Pacaso homes in Palm Springs and Park City claim the fifth spot for the highest resale gains within the Pacaso portfolio, each achieving a 17.5% increase upon resale. Recently, a Pacaso owner resold a share of his Indian Wells, California Pacaso home for a share price change of $83,000. He originally bought a 1/8 share for $267,000 and later sold the same share for $350,000.

6. Malibu, California

Pacaso’s co-owned second homes resell for an average 17.3% gain in the popular Los Angeles County beach city of Malibu. Spencer Rascoff, Pacaso co-founder and former Zillow CEO, is a Pacaso owner himself. He purchased a 1/8 share of a beachside Pacaso home in Malibu that was a resale listing. The home was originally listed at $485,000 and Spencer purchased the resale for $637,500, a $152,500 share price difference."I had my sights set on this particular home, and I found myself joining the waitlist because eight fortunate buyers got there before me. But let me tell you, it was worth not only that wait but every penny to secure that resold share,” expressed Spencer Rascoff, Pacaso co-founder and former Zillow CEO. “It's truly incredible to witness the vibrancy of our marketplace, with waitlists for certain homes and the demand for Pacaso properties."

7. Fort Lauderdale, Florida

Pacaso homes in Fort Lauderdale achieve a remarkable 16.3% increase upon resale. According to Pacaso’s Top Second Home Destinations of 2023 report from earlier this year, Broward County, Florida, the county in which Fort Lauderdale sits, had seen the greatest year-over-year price increase for second home real estate as of May 2023.

8. Jackson, Wyoming

Pacaso's co-owned second homes in Jackson, Wyoming, achieve an average resale gain of 16%. Pacaso operates in Jackson Hole, Jackson, and Teton Village in this year-round destination.

9. Newport Beach, California

Pacaso's second homes boast an impressive 15.6% gain in Newport Beach resale value.An owner in Newport Beach originally purchased two 1/8 shares in a Newport Beach home nestled along Corona del Mar’s famed Ocean Boulevard for $1,263,000 each. Our dedicated Pacaso resale experts successfully assisted this owner in selling both shares for $1,375,000 each, resulting in an $112,000 gain on the two shares, totaling $224,000. With these equity gains, this owner was able to seamlessly purchase ownership in the newest Pacaso property in the area, "Pacific Place."

10. Lake Tahoe, California and Nevada

Pacaso operates on both sides of the California-Nevada state line in Lake Tahoe, spanning from Incline Village, Nevada, to the opposite side of the lake in Olympic Valley, California. Throughout the entire Lake Tahoe region, Pacaso homes resell on average with a remarkable gain of over 13%.

Methodology

Pacaso identified the top resale destinations by analyzing the company’s resale data since June 2021, identifying the top ten Pacaso markets with the most significant resale appreciation through August 31, 2023, presented in ascending order. Please note, past performance is not a guarantee of future performance.

Pacaso’s vibrant second home marketplace commands more than 10% resale gains