Updated : Mar 13, 2025
Knowing how to price based on demand in your area is important and PriceLabs with its HLP automatically does this for you every day. But, you may want to understand what is happening in your market, what other properties are charging and how occupied are they. Manually checking listings for nearby properties is time-consuming.
That’s where PriceLabs’ Neighborhood Data comes in handy. It compiles all the market data you need to understand demand and competitor prices. With insights from this tool, you can stop wondering if you’re pricing correctly and start making data-driven decisions
Some key questions the Neighborhood Data tab can answer for small hosts:
Q1: Why am I not getting any bookings?
Lack of bookings can lead to doubts – is it because of my pricing? Are my listings not showing up well? Is there something wrong with my amenities or photos?
Before letting these worries consume you, check the Occupancy chart in the Neighborhood Data tab. It shows if your future occupancy aligns with or lags behind the overall market occupancy rate combined with last year’s occupancy. You can get assurance if the whole market is struggling or if a lot of demand is yet to be booked. This added context can reassure you when performance seems slow. But suppose your occupancy is low while the market is seeing high occupancy. In that case, you may need to adjust your listing with flexible minimum stays, competitive pricing, or marketing efforts to stand out.
Q2: How is my property priced compared to the market?
The Future Prices chart gives you an at-a-glance view of how your pricing compares to competitors in your area. You can instantly see if your rates fall into the lower, middle, or higher end of the market’s prices. For instance, in the chart below, the solid black line (Final Price) shows how the prices are changing for this property in the upcoming year. During high-demand periods, pricing towards higher percentiles maximizes revenue. But during low-demand periods, pricing on the lower end can ensure you get bookings sooner.
Q3: I compare to just a few competitors. How do I make sure my prices reflect this?
The Competitor Calendar tool allows you to hand-pick up to 10 specific listings similar to your property. It shows how your rates stack up for each night. You also get a view of their booked and available dates, making it easier to compare their performance. Competitor Calendar feature offers new enhancements for more accurate comparisons:
- Add competitors via direct links: Adding competitors is now easier than ever with the ability to paste direct Airbnb listing links using the Add Competitor button.
- Compare length-of-stay restriction: The calendar now also shows the minimum night stay each competitor requires, giving you insights into stay restrictions for your area.
- Glance at the property: The new thumbnail photos provide a quick visual reference to identify properties with similar attributes like size, amenities, and location as yours.
Q4: Is my base price set up correctly?
With the Future Prices chart, you can discover if your price is out of step with the market. For example, if a mid-scale property is consistently priced above the 90th percentile of the market, it may indicate a need for adjustment.
After changing your base price, you can do a before and after comparison on the Future Prices chart to see how your final prices moved. This allows you to fine-tune your base price until your pricing aligns with similar properties in your market.
Q5: What should be my minimum price?
The minimum price is the lowest price a user allows for their listing. With the Future Prices chart, you can see the lowest prices in the market for the entire year. The bottom gray-color band shows the listings priced in the lowest 25th percentile in your market. Based on this, you can come up with a minimum price that suits your property type. Be sure to consider low-season prices as well.
Q6: How are my properties priced at events & holidays?
The Future Prices chart has indicators that highlight upcoming high-demand dates like events and holidays. Check if your prices increase appropriately for those peak periods.
Q7: How can I compare prices accurately when cleaning and service fees are included in the nightly rates?
To compare apples to apples, the Competitor Calendar shows separate cleaning fees & service fee details. These fees are listed separately from the nightly rate. With this information, you can understand the prices separately from the fees added on booking platforms like Airbnb.
If you apply markups & markdowns on booking platforms outside of PriceLabs, you can also simulate those prices here by using the “Markup/Markdown to simulate Final Price”.
Q8: I offer extra amenities that none of my competitors have. Can I price my property to always be in the 90th percentile of the market?
With PriceLabs’ Dynamic Pricing, the goal is to adapt to market demand. This means pricing higher when demand is high and offering prices lower than others during the off-season to ensure bookings. So, it’s not practical to always aim for a certain percentile. To differentiate yourself from others, you can set a higher base price than aiming for a certain percentile.
Q9: How is PriceLabs changing my price recommendations?
We continuously monitor shifting market conditions and demand data. As new bookings come in and availability gets updated, our algorithm recalculates the recommendations.
By checking the Pricing Evolution box in the Future Prices chart, you can visualize how our recommended prices for your listing have changed over the last 1, 2, 7, 10, or 30 days. If our suggestion for a date next month has crept up recently, that may signal higher demand in the market. Declining recommended prices indicate dates when we are trying to be more competitive.
By providing a single space for market insights tailored to each host’s unique property, the Neighborhood Data tab eliminates the guesswork involved in setting competitive prices. With the ability to hand-pick and compare against specific, comparable listings, hosts can ensure their pricing aligns with their true competition.
