Thoughts & Feedback on Market Trend Information

Jeff558
Level 3
Lake Country, Canada

Thoughts & Feedback on Market Trend Information

Hi all, just wanted to post this to the community and see what other hosts' feel about my thoughts. I've submitted this as feedback but wanted to lay it out here as well. 

 

From my perspective as a host, I appreciate the marketing trend information and use it often to help gauge my prices.

 

My feedback is to hopefully have more functionality to see the booked price ranges of my area for comparable listings. My preference would be to see a line graph with a ceiling price and a floor price, compared against the booking rate and the average price booked. Currently, I don't find the "median booked price" helpful especially since a large number of the days state there is not enough reliable information yet, even though some of those days state 50%+ of expected bookings have been made already. It's puzzling to me when I see a date that has, let's say, 65% of guests who were likely to have booked have already booked and there isn't enough reliable data yet to show a median booked price for my area. 

 

Also, I use the listing views to gauge how many guests are interested in booking based on what my prices are. I feel that this tool has more potential than its current functionality; it would be helpful to see which dates were viewed and by how many guests. This would give me feedback to understand if my price is above what guests see value in versus the value that I perceive my listing to have. Additionally, if I saw there were many views and no bookings but my price was very reasonable compared to other listings around me, than I could pressume they may have went to another platform to something cheaper that fits their budget (granted my calendar doesn't note a guest booked another listing for $x.xx less than mine). 

Thoughts? Clear as mud? 

Thanks

1 Reply 1
Jenny1058
Level 2
Indianapolis, IN

These suggestions are great! Have your market trends ever shown the median booked price or % of guests who have already booked? I’m wondering when is there sufficient data to show?