If you’re looking for a shore rental, agents say you might be hard pressed to find one unless you’re willing to pay more than $ 30,000 a month.
Real estate agent Alison Gould of The Gould Group in Madison said it’s been an interesting year for summer rentals as there aren’t many available.
âA lot of the homes I’ve rented over the past 10, 15, 20 years have been sold during the pandemic to people who wanted to buy homes on the waterfront,â Gould said. “There were fewer of them now than before, and they’re going really fast.”
She said the owners took advantage of the interest.
“I would say things that were $ 6,000 last year are $ 7,500 this year, and those that were $ 15,000 to $ 20,000 last year are now $ 25,000,” said Gould.
Further west on the shore, luxury rentals are not as popular this year. Christine Oleynick saw it firsthand as an agent for Keller Williams luxury homes in Fairfield County.
âThe same rentals I got last summer, I still have them, where they left last summer within 24 hours,â Oleynick said.
She said those rentals were between $ 30,000 and $ 50,000 per month last year. Some are even higher this year.
âPeople who have never rented before are definitely trying to take advantage of this market,â Oleynick said. “Most seem to want a high premium compared to last year.”
She said the majority of her rental inquiries came from New Yorkers.