The market for Jersey Shore summer rentals is going to be one for the record books.
According to reports from VRBO, 90% of vacation homes listed on the Jersey Shore for July were booked by the end of March.
July and August are typically the hottest months for Jersey Shore rentals. Right now according to The New York Times, for the same period in 2019, 70% of listings were booked, which makes for an increase up 20% from two years ago.
What is driving demand in many cases is the opening up of the economy, especially restaurants and amusement parks.
With over 3.7 million people in the state of New Jersey being fully vaccinated; or 37%, the surge in bookings reflects the willingness of people to move around in public.
According to vacation rentals data company, Transparent, the national average rate for Airbnb rentals in July and August climbed dramatically from $185 in 2019, to $220 for 2021.
In addition people obviously are looking not just to get away for a brief stint, but actually staying for a longer. Of time which is increased from 3.7 days in 2020 to 4.9 days in 2021.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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