Vacation Rental Bookings Boom in Martha’s Vineyard Market
A sudden boom in the demand for summer rentals in the Martha’s Vineyard area is an encouraging sign for the vacation rentals business in Northeastern beaches. It is also a welcome change from the cold wet spring of 2005, in which the vacation rentals market was depressed.
An article in the Vineyard Gazette Online by Max Hart reports that Island real estate brokers indicate that the demand for summer rentals has suddenly exploded. One broker reports that bookings are up 62 percent over this time last year. This early surge in interest comes after several years of an up-and – down summer rentals market, where inventory generally outpaced demand.
Another broker warns that this increase in bookings may not extend to the entire Cape and Nantucket. However, such a surge in rentals in the Vineyard market must be considered a highly encouraging indicator of the rental market for Northeastern beaches.
