Cape Cod real estate agents say the vacation rental market is perking up this year. Bookings are up over last year, and agents feel confident they’ll be able to fill out the season.

But the market is still feeling some effects from the economic downturn, with more high-end homes available and more people looking to grab a deal by booking late or vacationing with a large group.

“Each month is busier than the month of the previous year. We’re doing about 20 percent more,” each month year-over-year, said Theresa Smith of Kinlin Grover Vacation Rentals in Brewster.

But though the market has improved, agents are not yet seeing a return to the market of a few years ago, when securing a vacation spot for July meant booking in January. For the past several years, sun seekers have been holding back, waiting until late spring to book.

“Five or 10 years ago, you’d rent a house, and before you left you’d rent it for next season,” said Chris Rhinesmith, broker/owner of Pine Acres Realty in Chatham. “But what we’ve found in the last bunch of years is that, partially probably with the economy, people are waiting to decide to rent until May or June.”

A relatively fair spring this year (thus far) compared to last may be helping things.

Last year, “it was cold and rainy up until beginning of July,” said Lynette Helms, president of the Cape Cod & Islands Association of Realtors and CEO of Real Estate Associates. Fear of a beachside vacation spent indoors playing Monopoly may have lead to some vacationers putting off bookings.

Let’s Make A Deal

More high-end homes are also available for rent this year, a potential side-effect of the economy as families put their vacation homes on the market for the first time, or make it available for longer stays, to help defray costs and generate income. Because of this higher inventory of available homes, some are also available later in the season, which can lead to deal-hunting.

“There’s a lot more bargaining going on,” said Smith. “Things of that nature.”

Beachgoers are also looking for savings in other ways, including splitting a rental with friends or family, or moving to a less expensive spot.

A few years ago, people were looking for high-end properties with, “All the bells and whistles,” Helms said. “Now what we’re seeing is people looking for larger properties that will accommodate a couple of families, whether they’re related or not.”

Rhinesmith said he has seen the effects of bargain hunting, and it has benefited his business.

“We’ve found a lot of cases where people have rented on Nantucket for the past five or 10 years, who say, ‘you know what, [Nantucket is] just too hard to get to, and in Chatham you can get over the bridge and it’s got a lot of the same advantages for a lot less money,’” said Rhinesmith. “So there’s definitely new blood coming in.”