Naturally, this year's pricing indicates a marked growth in confidence on the part of our homeowners.
Brewster, MA (PRWEB) March 04, 2014
WeNeedaVacation.com, a rental vacation website serving the Cape Cod, Martha's Vineyard, and Nantucket communities, is happy to announce that the early booking numbers and rental prices are in, and by the looks of it, this will be a good season for vacation rental owners. Bookings are up 4.8% from the year before, despite weekly prices being up by a large percentage. The company recently released its comprehensive 2014 Pricing Report, which showcased the impressive weekly pricing numbers. Vacation rental owners should be cautiously optimistic.
"Naturally, this year's pricing indicates a marked growth in confidence on the part of our homeowners. And, given the healthy booking numbers so far this season, it doesn't appear that their confidence has been misplaced. The booking season is still young, however, and we will continue to monitor booking rates carefully throughout the year," said a spokesperson for the company.
In regard to the particulars of the report, weekly price increases for locations on the Cape this year are as follows: 3.3% on the Cape, 3.6% on Nantucket, and 5.5% on Martha's Vineyard. This is substantial growth compared to the compounded price increases from 2008-2013, which were in the 1%-2% range.
The lack of price increases before this year was due in part to the financial Recession and the resulting lack of owner confidence in the vacation rental market. As per the WeNeedaVacation.com report, however, owners see this year as a welcome opportunity to increase their prices and still experience heavy demand as the economy has improved a bit. In fact, the price increases were the largest the company has seen in its 17-year history.
The number of early bookings this year has shown that they were right in their analysis. The high summer season bookings are up by 6% in the entire region. While spring bookings are actually down a bit from last year by 3.4%, fall bookings are already up by 16%. WeNeedaVacation.com recommends that those who are looking to come to the Cape and Islands this year check out the more than 3,500 listings on its site before they are booked for the season.
Since 1997, WeNeedaVacation.com has been providing an efficient and inexpensive way of matching vacationers and vacation rental homeowners. The website lists more than 3,500 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.