Anyone else feeling the market pick up?

Short-Term & Vacation Rental Discussions
3yFollow

Anyone else feeling the market pick up?

Bruce WoodruffPro Member
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes

One of our STRs has been struggling since December. All of a sudden, starting last weekend we have gotten several bookings (6 or so). We were starting to get a little concerned, since that place is right downtown in a nice small town tourist market.

I'm attributing it to a) weather getting better, and b) fears about the economy abating somewhat....

Anyone else noticed a sudden pickup?

5Reply
32 views

Most Popular Reply

Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y

It is most likely a seasonal phenomenon, not market. 

5Reply
See this reply in the discussion

32 Replies

Jump to latestLatest
  • Michael Glunk
    Real Estate Agent · Evergreen, CO · Member since 2015 · 126 posts · 73 votes
    3y

    @Bruce Woodruff I've seen a slightly slower bookings for March on some of my STRs compared to the past few years which was a bit of a surprise as my properties are in a ski town and usually the March spring break time is strong for me. Not this year...but I've been booking at higher rates during other months. (e.g. January and February were both solid months). 

    I've got STRs in Colorado and Montana. In Colorado I had a high occupancy rate in January and February and lower than normal March as mentioned above. But overall my gross revenues were higher than usual. I tend to look at things over the year/season versus looking at it this granularly, but your question caused me to take a look. My Colorado STRs tend to be higher price point per night vs. Montana where I set up an STR recently that is more of an entry point STR. This property has been booking up pretty solid minus the spring time which tends to be a bit of a mud season and therefore pretty low from a tourism perspective.

    We will see!

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Chris Mason:
    Quote from @Bruce Woodruff:

    One of our STRs has been struggling since December. All of a sudden, starting last weekend we have gotten several bookings (6 or so). We were starting to get a little concerned, since that place is right downtown in a nice small town tourist market.

    I'm attributing it to a) weather getting better, and b) fears about the economy abating somewhat....

    Anyone else noticed a sudden pickup?


    I'd wager that "go on vacation and stay in a STR!" and "start the process of getting preapproved to buy our first house!" are correlated simply because both come from "warm and fuzzy positive feelings" about the economy/world/etc.

    Big uptick in people inquiring about mortgage preapproval, this week in particular. 


    Q 4 for our new builds was not good.. we have sold 6 new builds in the last 45 days right at 5 mil worth gross sales prices of course LOL.. mostly empty nesters and pretty much paying cash.. one was a FHA buyer but the rest interest rates are not something they are worrying about.   Plus working another 4 or 5 strong buyers that will be coming up from CA and TX in the next 45 days.. so hope to convert a few of those as well.
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    3y

    Despite the slowdown in January, it looks like Florida is regaining momentum this peak season. Real estate is particularly doing well, which is a sign of good things to come for our state. It's encouraging to see positive results despite the influx of supply that has challenged us in comparison with years past. Here's to continued growth and success!

    [email protected]832-889-5607
    1Reply
  • Bud Gaffney
    Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes
    3y

    @Bruce Woodruff definitely up!

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    One thing I will add is we are getting more scam inquiries.

    0Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    3y

    Our summer bookings (Four Corners FL) are coming in pretty slow. It's still only March so I suspect there will just be more people "wait and see what happens" but I think it's gotten a little slower actually. We've been booked solid since November so the winter was great but so far summer bookings not so much. 

    Podcast Guest on Show #243
    Skyline Properties
    View Page
    0Reply
  • Tatiana Viviano
    Member since 2019 · 20 posts · 4 votes
    3y

    This time of year many families are receiving their tax returns and spring break kicks everything up a notch, too. People are booking the next vacations or last minute booking a trip that they regretfully didn't sooner if they have later spring break. 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free