Business Brief: Cape and islands rental activity appears strong

Business Brief: Cape and islands rental activity appears strong

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Early booking numbers for vacation rental homes on Cape Cod, Martha’s Vineyard, and Nantucket listed with WeNeedaVacation.com are up more than 16 percent over the same booking period last year, the rental agency reported in a press release. This increase continues the upward trend over the past four years, including a 26 percent improvement over 2011, 53 percent over 2010 and 66 percent over 2009, the company reported.

The rise in bookings is evident in both the spring and fall “shoulder” seasons as well as the high-season summer rentals: springtime bookings are up 16.3 percent, summer 15.9 percent, and fall 19.6 percent.

In terms of price bands, relatively modest homes listed under $2,000/week have so far enjoyed the greatest increase in bookings at 18.7 percent over last year; homes listed in the $2,000-$3,000/week range are up 15 percent; those in the $3,000-$4,000/week range are up a more modest 12.2 percent; and those listed at over $4,000/week are up as much as 15.2 percent.

Another trend apparent on the website in the past three years is that vacationers are booking earlier. During the 2009 and 2010 seasons, vacationers appeared more hesitant and less willing to commit to a vacation rental until closer to the season.

WeNeedaVacation.com said it believes this is yet another indication of growth in consumer confidence and a reason to be cautiously optimistic for the remainder of the 2013 rental season.