This trend isn’t just being seen in tropical locations, but also in Mainland US. Luxury residential community Tributary, which opened this year in Driggs, Idaho, found that young buyers are eager to buy quickly and move into this remote community, which is close to the Teton Mountains and just a short drive from Yellowstone National Park.
In 2021, 44% of Tributary sales were to buyers in their 30s and 40s, and of those buyers, nearly two-thirds have children aged under 18. Among buyers in their 30s and 40s, almost half made their purchase within just 10 days of first contact. One buyer had a transaction length period of only two days.
“Younger buyers want to enjoy the western/mountain lifestyle for themselves and they want their kids to grow up experiencing our quality of life, natural surroundings, clean and safe environment and more relaxed living,” says Jeff Heilburn, Tributary director of real estate. “Many of our younger buyers are well-established in their careers and have newfound flexibility, not needing to live at the office.”
This trend has been accelerated by the pandemic but wasn’t created by it. Tumble Creek at Suncadia, a luxury community in the Cascade Mountains of Washington State, has seen the number of younger buyers and families increasing strongly over the past four years.
In one of Tumble Creek’s neighborhoods, Prospector’s Reach, 100% of the buyers in 2020 were aged 45 and young and all had children. In comparison, 37% of buyers in 2019 were aged 45 and under, and in 2018 it was 33%.
Particularly, younger buyers are interested in developer homesites, where they can create the perfect home for their family. Across the entire community in 2020 and 2021, almost 40% of homesites were purchased by buyers aged 45 and under, compared to just 25% in 2019.