May 23, 2014 - As reported in our 2/25/2014 press release, weekly pricing
for Cape and Islands vacation rental homes listed on WeNeedaVacation.com increased
significantly this year – in fact, the largest the company has seen in its 17-year
history. But was the early season confidence of rental homeowners misplaced? It
does not appear so. To date, both bookings and pricing have held strong.
For all three regions of Cape Cod, Martha’s Vineyard, and Nantucket, and for the
spring, summer and fall seasons combined, bookings are up an average of 4% over
the same time last year. Although these numbers do not show a dramatic improvement
over last year, they do indicate that price increases were indeed warranted.
But did the higher pricing hold? So far in the bookings season, rental homeowners
have not relented much on their pricing either. Normally, the website sees a 3-4%
drop in prices for each of the months of June and July in order to fill last-minute
availability. Although we haven’t hit June 1st yet, so far, we have only seen a
negligible .6% reduction from homeowners’ original 2014 season pricing.
Does this mean limited inventory and higher-than-ever prices for vacationers? Absolutely
not. In the last 2 months, WeNeedaVacation.com has activated over 140 new listings
and continues to add more every day. The new inventory comes from homeowners who
have not succeeded in filling their homes through other marketing sources, from
those who have recently bought or renovated their homes, or from some who have experienced
cancellations from other guests or family.
For vacationers still looking for a great fit at a great value, we recommend the
- If you can be flexible with your dates, the weeks of June 28, July 5, and August
23 are the least popular of the summer. Thus, there are more homes available then,
and they are often priced lower.
- Join forces with extended family or good friends to share the cost of a home. It’s
a lot of fun and saves considerably on the rent.
- Want waterfront? Consider a lake- or pond-front home, which provides much of the
enjoyment of a saltwater-front home at a lower price.
- Take a look at the company’s new Last-Minute Availability and Deals page, highlighting
properties with availability within the next four weeks. Homeowners listing in the
directory are incented to book their last-minute availability and usually offer
enticing incentives, including price reductions, in order to do so.
As general, national economic indicators continue to improve, it is our belief that
the Cape and Islands 2014 vacation rental season will also continue to regain some
of the strength lost during the difficult post 2008 years. And hopefully, many will
enjoy the uniquely relaxing, fun, revitalizing and affordable vacation that this
beautiful region provides.