Falling out of love with the shore

From the Star Ledger:

Here’s how the Jersey Shore rental market was this summer and a reminder that it’s not over yet

For the first time in a few years, you might’ve gotten a deal or picked up a prime last-minute rental at the Jersey Shore this summer.

That’s because there were more houses to choose from and demand wasn’t as strong.

The rental markets near New Jersey beaches have been booming since the COVID pandemic as people chose to stay closer to home. That led to about a 25% increase in prices and difficulty in finding a prime house — one close to the beach, with a pool or that allows pets.

But this summer, things normalized. There were more houses in the rental inventory and demand was weaker as people resumed long-distance traveling or balked at the high rental prices while paying more for things like gas and groceries.

“The ‘COVID bump’ that we experienced over the last three summers has finally come to an end,” said Duane Watlington, founder of Vacation Rentals Jersey Shore LLC, which lists properties for rent in Ocean City, Long Beach Island and Wildwood.

“While it’s a step back from last two years,” he said, “we picked up a lot of fans during COVID who hadn’t come here. They liked the area and continue to come here.”

Inquiries for rentals started strong in January but came to a standstill from about March until June, said James Ward of Keller Williams Ocean Living in Point Pleasant.

“They’re usually prime booking times,” he said. “I attribute it to people finding deals in other places and generally choosing other options.”

The increase in rental inventory, from people who purchased homes the past few years and are now placing them up for rent, has benefitted renters. Some that weren’t fully rented offered price reductions throughout the season — and they increased the pool of homes to choose from.

“People are choosing real estate over everything else to invest their money in,” said Ward. “So there is a lot of new rental inventory.”

Watlington, of Vacation Rentals Jersey Shore LLC, has added 500 new listings since the end of last year, bringing his total rolodex to 2,700 rentals.

“This increased inventory gives vacationers a wider selection to choose from across all price levels,” he said.

This entry was posted in Economics, New Jersey Real Estate, Price Reduced, Shore Real Estate. Bookmark the permalink.

26 Responses to Falling out of love with the shore

  1. Hold my beer says:

    First

  2. Fast Eddie says:

    First to be second and second to be first.

  3. Fast Eddie says:

    Ask was 499K, sold for 530K. 3bd/1bth, everything original. Buy now or be priced out forever:

    https://www.trulia.com/p/nj/westwood/33-mckinley-ave-westwood-nj-07675–2006753993

  4. 3b says:

    Fast: As you know , Westwood is Bergen Co, and it does have a charming town center, not only that , but Westwood is the hub of the Pascack Valley, not only do you get Bergen Co, but you get Pascack Valley. Membership has it privileges as the old American Express commercial used to say.

  5. Fast Eddie says:

    3b,

    Most people can’t afford Bergen County, it takes a certain type to live there. You got to have 9 out of 10 on the checklist. 8 out of 10 if you have a German import to show and a Goldendoodle. Bonus points if you’re walking up Ridgewood Avenue with your baby in a Bugaboo stroller.

  6. Phoenix says:

    AI doing it’s thing. Enjoy Eddie.

    https://www.tiktok.com/t/ZT828ECFd/

  7. SmallGovConservative says:

    BRT says:
    September 3, 2023 at 8:54 pm
    “…person I knew with CTE who played in the NFL just one year passed away this week, 65. I love watching it, but I would never let my kids play it.”

    Thank god for the red states, where boys can still be boys. The highly-feminine fear of anything that involves even the slightest amount of risk, that so many blue state men have inherited from their wives/mothers, is embarrassing! Newsflash: your kid will never play in the NFL so you have nothing to worry about! But in addition to not being allowed to play football, I bet you think you’re an especially good parent because you also won’t let your son(s) do/have any of the following, right?
    – bb gun
    – minibike/go kart
    – climb rocks
    – when the time comes, join the military

    Serious question to you and the other frightened-by-football dads: if given the choice between your son playing high school football, or being a tranny, which would you prefer?

  8. phoenix says:

    The ones who decide your fate before you ever see the inside of a courtroom:

    Over 100 Connecticut State Troopers Accused of Faking Traffic Stops
    Auditors found tens of thousands of apparently falsified traffic stop records, many of white drivers. They suspect the officers were trying to appear more productive.

  9. Phoenix says:

    Auto or manual? CVT or six speed?

    or being a tranny,

  10. Phoenix says:

    FE,

    I have a co-worker from Ridgewood. Not a looker, doesn’t make much money, mouthy broad from Brooklyn, gossiper, like Rizzo from Grease.

    They ain’t all hotties that’s for sure.

  11. 3b says:

    My Son played high school football, decent player, much better soccer player, but peer pressure made him quit, and focus on foot ball. According to the football kids , soccer was for foot fairies. I remember all these crazed football Fathers, yelling and screaming at football games, at you do kids. Some of these guys had not seen their toes in 20 years or more, and there they are on the sidelines abusing these kids. Never understood that.

  12. BRT says:

    Small, with all due respect, I ain’t raising pansy kids. My kids are as gritty as they come. That being said, you obviously didn’t read my posts a few days ago. My best friend played high school and d1AA (3 years). Several concussions and 2 reconstructive surgeries on his shoulders. Most people will play high school football and be fine. Few, it messes them up good.

  13. BRT says:

    Serious question to you and the other frightened-by-football dads: if given the choice between your son playing high school football, or being a tranny, which would you prefer?

    Good question. My answer is, baseball, soccer, and basketball.

  14. Chad Powers says:

    You can have the Jersey shore. My family and I are in Hattigny, France right now. We’re staying at a Center Parc resort which is very relaxing and has a large swimming complex, as well as other free time activities. Went shopping today at a nearby Cora and picked up some inexpensive French wine, baguettes and cheese.

  15. Fast Eddie says:

    Chad,

    Sounds nice but a bit more expensive trip than the Jersey Shore, wouldn’t you say?

  16. Phoenix says:

    Eddie,
    He is a Republican. He can afford it.

  17. Chad Powers says:

    Fast,
    You are correct. But think of it this way, I’ve reduced my risk significantly of running into Snooki.

  18. Libturd says:

    Just be careful when you cut the cheese.

  19. Fast Eddie says:

    Chad,

    Good point. Unless Snooki has something to offer? Lol

  20. leftwing says:

    “Crappy graphic. Needs to be log on y axis. Things are no where as bad as 1980s…Nothing like using logarithms to fit your perceived narrative.”

    That’s a little unfair…all over a ten year period trough to peak 80s seem to be about 4.5x, 2006 a little less than 2.0x, and 2023 a little less than 3.0x….log would show that, this chart implies the opposite…although I guess the chart does purport to show the difference in cost to buy v. cost to rent in nominal inflation adjusted dollars…still feels a little off.

  21. leftwing says:

    “I remember all these crazed football Fathers, yelling and screaming at football games…Some of these guys had not seen their toes in 20 years or more, and there they are on the sidelines abusing these kids. Never understood that.”

    You ain’t seen nothing until you’ve seen those type of hockey parents who also have never played the game…had this one defenseman Bobby, to the naked eye looked good, to a skater couldn’t turn right. You could literally see that passed down the opposition’s offensive side of the bench by the third shift.

    Kid coming down hard on a 1 on 1, beats Bobby to his right, straight in alone on the goalie, score.

    Bobby’s dad: “Damn goalie can’t stop a beach ball.”

    Bobby last man back, big kid, he levels the puck carrier rather than a simple poke check. Takes himself out of the play as well since he didn’t notice the next guy down the ice (F2) was an opposition player. F2 scoops up the puck, walks in on net, goal.

    Bobby’s dad: “Now that’s an NHL quality hit! When are we going to get a competent goalie?!”

    Of course Bobby never went anywhere near any level of organized hockey post-HS, only to a couple fake NJ “Junior” teams where Mom and Dad pay $16k plus expenses for the privilege of delaying college to send Bobby all over the Eastern seaboard to play similarly bad teams because they would be mercied in the second period if they played an actual Junior team.

    Then onto a third rate college where he would play club hockey because the NCAA coach ‘promised’ him he was next man on the roster. Predictably, that did not happen and after a year and a half Bobby quit the sport altogether. Equally predictably, Bobby’s dad to this day four years post college will respond to the question of “how’s Bobby doing, where is he” with a tirade of why he did NOT play higher level hockey and how it is the fault of every single coach Bobby ever had as a youth for not recognizing and promoting his talent.

    Fun times.

    And don’t even get me going on the moms…they’re worse.

  22. Libturd says:

    Speaking of hockey. Gator Jr. got the callback after the new player tryout to make the top team in UF. He was so gassed he was actually hoping he wouldn’t get the call back as it was non-stop 2-line hockey for 90 minutes. He actually told me he thought he was going to die. That’s pretty funny coming from a kid who was on the ice for 80% of his high-school games senior year. Well, he went to the big boy tryout and felt her did really well, though this one was a 3-hour long bust your ass practice. He was so tired afterwards, he was not sure if he could make the 90-minute drive home.
    Unless they were looking for a defensive defensemen, which was doubtful as the captain of the team already played that role, he put his odds of making it at 35-65.

    So today he gets the group text and he’s not listed on either the D2 or the D3 team. Now, this makes absolutely no sense after the callback to try out with the D2s, but who knows? So he texts the coach of the lower team and the coach says he might have made a mistake and he should come to the next team practice. Of course, kid is devastated as are we for him. Fifteen minutes later, the coach calls back and says it was an oversight and somehow he didn’t he see him at the tryouts, but he is definitely on the team. He better be. He took a shot to the ball of his right foot and it looks like complete hell. Though, when it bruises like it did, it usually isn’t broken.

    Happy Labor Day All.

  23. The Great Pumpkin says:

    Move to Florida they said…

    “Steven B Smith I hear that, my area used to have farms but still city life, had deer and fox roaming, but now, home after home after home popping up. Including an abundant amount of apartments. We are no longer the retiring state, and those coming in want to change it. We are laid back, take your time, state. Not anymore, I see so much riding and anger now. What a shame, work from home needs to stop and they all go back. Sorry, that’s just my thoughts as work from home started the boom.”

  24. ExEx says:

    7:40 kudos! Exciting news.

  25. crushednjmillenial says:

    Murphy says “no” to taking NYC migrants. Dems facing a conundrum amongst their left flank versus centrist voters ahead of 2023 elections.

    https://newjerseymonitor.com/2023/09/04/governor-murphy-flip-flops-on-aiding-immigrants/

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