May 24, 2022 - After the record-breaking booking numbers last fall and continuing through January, vacationer demand for short-term rentals finally cooled off for a few months for the first time since the STR boom created by the pandemic in 2020.
But demand is still above that of pre-pandemic seasons. The market is strong – just not as feverous as it’s been for the past two seasons.
What's the current state of Cape and Islands rentals?
Thanks in part to an increase in inventory, in addition to the softening demand, availability this year for the prime summer weeks is up from 10% last year to 15% this year at this time. That translates to an average of 472 available homes per week.
And, based on our 25-year history, we know that many new listings will continue to come online over the next couple of months. (View our directory of newly listed rentals, which is updated daily.)
In terms of demand, vacationer traffic and inquiries have started to pick up again, and with them, bookings.
Although noticeably off from the fevered demand of last year, the volume of people looking for vacation rental homes, the number of inquiries they sent, and the number of actual bookings are substantially higher currently than for each of the previous 4 years.
Inquiries, Vacationers, and Bookings Year-to-Date
| 2022 vs. | Inquiries | Vacationers | Bookings |
| 2021 | -34% | -28% | -12% |
| 2020 | 83% | 79% | 102% |
| 2019 | 70% | 63% | 41% |
| 2018 | 62% | 45% | 35% |
| 2017 | 78% | 60% | 40% |
The increase is the result of warming weather and also the fact that COVID numbers are again rising, causing vacationers to opt for the proximity of the Cape and Islands and the safety and privacy of vacation rental homes.
In addition, many of the events that were cancelled the past two seasons are returning this year. (See our Cape Cod Events Calendar 2022)
Read our full article about the current state of the 2022 short-term rental market on Cape Cod, Martha’s Vineyard, and Nantucket.