SOUTH JERSEY (KYW Newsradio) — If you’re looking to book a shore rental for the summer, you had better hurry. Some realtors tell KYW Newsradio inventory is already limited.
In Avalon, Berkshire Hathaway broker Jack Vizzard says most of the rental weeks are already spoken for — and fewer homes are available for rent, as some families are keeping them for themselves.
“It’s good old fashioned economics, supply and demand, and there is less inventory so the prices have gone up,” explained Vizzard. “In fact, we’ve never seen prices like this. An average oceanfront rental is between $30,000 and $40,000 per week.”
Other Jersey Shore towns are seeing similar situations. Clay Rossiter, with Fox and Roach in Ocean City, says many of the popular rentals are booked, but there are some left.
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“I’m actually getting a little burst of inventory here, which is common this time of year,” he said. “We always get this influx of new construction or properties that have simply changed hands that come in the spring.”
Rossiter says new construction is also helping add to the market. Because of the big beach replenishment project in Ocean City, Rossiter says families who have booked there will be rewarded with pristine conditions on the beach.
Both Vizzard and Rossiter advise that, while most of the rentals are gone, it couldn’t hurt to reach out to a realtor in your favorite town to see what’s left.