Snooze, you lose: Jersey Shore realtors say now is the time to book summer rentals
MANASQUAN, N.J. -- Thinking about summer? If you are planning to rent down at the Jersey Shore you may want to start planning now.
With prices going up and a lot of people looking to stay local, inventory could be limited, CBS2's Meg Baker reported Thursday.
It may only be the end of March, but now is the time to start thinking summer getaway.
"Demand has been really strong. We have a few new rentals to the market, so there is some availability, but probably about 90 percent are booked," said Justin Smith, realtor at Wood Agency Manasquan.
Smith says vacationer's love for the Jersey Shore remains and now is the time to book, especially if you want a prime July or August week.
"We have a very strong re-rental business as they check out, so sometimes a lot of our inventory is booked a year out," Smith said.
Last summer, the rental businesses at the Shore was at an all-time high, with many choosing to drive somewhere instead of flying due to COVID concerns, and many with a more flexible work-from-anywhere situation.
"Last summer, we were completely booked. We couldn't find anybody anything," said Jenifer Green Grigg, a broker manager at Jack Green Realty in Spring Lake.
Green Grigg says pandemic-driven long-term rentals have cooled a bit.
"Now we are finding that we have a little bit more inventory and people aren't reaching out as much because COVID mandates have lifted," Green Grigg said.
But that doesn't mean prices have dropped.
"We have summer rentals available, but I wouldn't say there's deals," Green Grigg said.
Some travel experts say with the rising costs of inflation and gas prices, vacationers may choose to stick closer to home.
"Definitely people have kind of changed their mentality of where they want to vacation. I think it's staying at the Shore for a while," Smith said.
The realtors say more people are booking for more than a week vacation -- two weeks to a month -- and that more homeowners are renting their homes out because it's so lucrative.
Both realtors say the sales market is still going strong and that now is the time to list your home for sale because there are so many buyers out there with very low inventory to choose from.