The great thing about Mashivor’s Dynamic Pricing tool is that it not only serves as a tool to set prices for your Airbnb listings. It also gives you a more in-depth look at the market so you can make informed decisions.
From the My Listings page, click on the Details button lined up on the right side of your chosen listing.
This will take you to the Market Insights page, where you can see a map on the left half of the screen and some market data on the right.
The map will highlight several comparable properties located in the same city as your listing.
The data on the right half of the screen shows you essential market information you will need to set appropriate and competitive prices. These are the following:
Occupancy Rate. This shows you the average occupancy rate for Airbnb properties in the featured market.
Average Daily Rate. This shows you how much Airbnb hosts charge per night on average.
Average Monthly Revenue. This gives you a pretty good idea of how much you can earn on a monthly basis.
Active Listings. This shows you the number of active short-term rental listings in the market.
New Listings. This shows you the number of new short-term rental listings within a specific period.
On top of that, you can also customize your search by setting filters according to property type and the number of bedrooms. Simply click on the dropdown menu for Property Types and Bedrooms to make adjustments.
If you scroll down further, you will see a couple of graphs side by side. The one for Market Occupancy Rate shows you the behavioral changes of the market for the past 12 months where occupancy is concerned. The graph for Market Revenue Estimate, on the other hand, gives you an idea of the estimated revenue averages for the past 12 months.
Further down is a graph of the Market Average Daily Rate, which shows the market’s historical revenue for the past 12 months.
The Market Insights feature gives you a better outlook on what a particular market or neighborhood has to offer. When you’re armed with this type of information, you are able to make better decisions as a real estate investor and Airbnb owner. This allows you to anticipate any downtrends in the market so you can come up with contingency plans.