There has been lots of talk, at least within the industry, of the slowdown in the vacation rental market throughout the country…Newport, Martha’s Vineyard, even Oahu, HI. A quick Google search shows pages of local and national news outlets reporting on the shift in the market and predictions from the real estate and financial sector on what is to come.
The island is seeing its own lag in bookings with homeowners who have been offering their homes for rent for decades, if not generations, seeing empty weeks that would normally be booked by repeat tenants. There are many theories…it’s too hard to get to the island, the island is too expensive, the traffic is terrible (so rentals are down and traffic is worse – we cannot blame everything on rentals), but the people are still coming.
The Steamship Authority website crashed on opening day of 2023 reservations, the Nantucket Memorial Airport reported it’s ‘busiest 24-hour arrival stretch ever’ at the beginning of July and the Nantucket Police Department had to close two popular beaches on 4th of July due to overcrowding. What’s the explanation? Your guess is as good as ours. What we do know is that people are here enjoying the island. We still have some scattered availability in great properties. Give your favorite Atlantic East agent a call to learn more about what is available. Your best Nantucket vacation may be one you haven’t booked yet!