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Cape & Islands Vacation Rentals Continue to Rebound for 2009

FOR IMMEDIATE RELEASE
Contact: Elizabeth Weedon
Phone: (888) 281-8660
E-mail: elizabeth@weneedavacation.com

August 10, 2009 — Booking rates continue to make a strong comeback now that the summer vacation rental season has reached its peak on Cape Cod, Martha’s Vineyard, and Nantucket. Bookings during the first week of August have set a pace 180% ahead of last August! This dramatic increase shows a continuing recovery from the slow start of the early 2009 booking season.

2009 vs. 2008 Booking Rates

Month to month bookings since April 2009 have continued to outpace the same months last year. The table below shows the changes since January:

January
-20%
February
-24%
March
- 3%
April
   1%*
May
 30%
June
 55%
July
 24%
August (1st wk only)
180%

*Stock market bottom reached on March 9th

Overall for the 2009 season so far, Cape and Islands bookings are now down only 6.3% from the 2008 season – this versus the dismal start to the season when bookings were off as much as 22%.Specifically, the Cape is down 6%; the Vineyard is down 7%, and Nantucket is down 14%.

Pricing

Last month, prices stabilized in a return to last year’s levels. Currently, homeowners who are still trying to fill August vacancies are dropping their prices, but far fewer homes discounted in July than in the spring. In July, 157 homes on the Cape, out of 2500 overall homes or 6% of inventory, dropped prices an average of $206. In June, 14% of inventory changed their price an average of $120. Those still discounting on the Islands are dropping prices even further, so wise buyers may find some real bargains.

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About WeNeedaVacation.com: Since 1997, WeNeedaVacation.com has been providing an efficient and inexpensive way of matching vacationers and vacation rental homeowners. The website lists more than 4,000 properties on Cape Cod, Martha's Vineyard, and Nantucket. The WeNeedaVacation.com Vacation Planner also offers extensive information to the 175,000+ vacationers who use our site yearly, including information about beaches, events, dining, activities, and shopping. Our amazing staff collectively has over 100 years of experience as Cape & Islands vacation rental homeowners. We love the Cape and Islands, work hard to promote this special place, and proudly belong to 17 local Chambers of Commerce.

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Email: info@weneedavacation.com

Phone: (888) 281-8660