January 6, 2012 – Early bookings and pricing numbers for their Cape and Islands vacation rental listings are responsible for cautious optimism at WeNeedaVacation.com, which lists over 3,500 properties on Cape Cod, Martha's Vineyard and Nantucket. Weekly bookings between Memorial Day and the end of October are 28% ahead of this same time last year. In addition, homeowners are pricing their homes more aggressively than they have in the three years since the start of the 2009 recession. Compared to this time last year, weekly rental rates for Cape Cod alone are up $102 per home or 3.8%, Martha's Vineyard homes are up $115 per home or 3.7%, and Nantucket homes are up $170 per home or 3.9%.
As published in our September 2011 Press Release, bookings for the entire season last year were up more than 5% over the preceding 2010 season and even surpassed the pre-recession bookings of the 2008 season. The initial booking and pricing data for the 2012 season further support the premise that the Cape and Islands vacation rental market will continue its steady recovery from 2009's difficult rental season. We will report back on these trends throughout the 2012 season.