PriceLabs Market Dashboards

Understanding the Market Dashboards

Market Dashboards are fully automated personalized dashboards that can help you track your location’s STR booking data through easy to digest graphs and insights. 
New user accounts with listings imported in PriceLabs will be credited with 1 free dashboard to help you figure out what is happening in your market. Updating the dashboards after the trial costs $9.99 per dashboard per month. 

Overview Video

You may also check out our Market Dashboard Playlist on YouTube

Key Performance Indicators

This section details eight KPIs for the past seven, 30 days, or the last 365 days in the area compared to the previous period of the same length. This section is a great at-a-glance view of market trends for the area your dashboard covers and a good way to spot seasonal (and pandemic-related) changes in guests' booking behavior. 

  1. Estimated Revenue - for the past period is shown in the currency selected for your report; the smaller number on the side is the change compared to the previous period. In this example, listings in this area have seen an average revenue of $3.19K in the past 30 days, which is an increase of $1.06K compared to the previous 30-day period. 
  2. Average RevPAR - RevPAR can effectively predict your ADR’s success in filling available rooms. This, therefore, provides a constructive view of your property’s operational performance. It is the balance between the occupancy rate and ADR; it is the occupancy rate multiplied by the average daily rate. Read more
  3. Average Occupancy - percentage for the area is also shown for the past 30 days compared to the 30 days prior to that. Listings in this area have seen, on average, 47% occupancy for the past 30 days, which is up by 10% from the previous period. 
  4. Average ADR - It is the total rent divided by the number of nights within a given time period. An indicator of the average price of a vacation rental is calculated by dividing the total revenue generated in a vacation rental by the number of nights the vacation rental was booked. It is essentially the booked rate and does not include the prices for open nights. Read more
  5. Number of Active Listings shows the average number of active listings for the past 30 days also compared to the previous 30-day period. There are currently 4680 active listings in this area, which is 314 more than the previous period. 
  6. Number of Bookings shows the total number of stays booked for listings in the area for the past 30 days, compared to the previous 30-day period. These are bookings made, not necessarily stays that occurred, as some stays will have longer booking windows than others. 
  7. Median Booking Window shows how far in advance stays were booked in the past 30 days compared to the previous period. This area has seen a few more bookings coming in a bit farther in advance this period compared to the last
  8. Median Length of Stay, not the average, shown for bookings made in the past 30 days compared to the previous period. We show the median here to account for the long-term stays booked in the periods shown. 

Listing Map and Comp Sets

The map will show the approximate location of the current active listings in the report area. You can hover over each dot on the map view to see how many bedrooms that listing has, along with the average rate over the next year. The size of each dot is determined by the number of bedrooms the listing advertises, while the color of the dot corresponds to the listing's average rate. The tool in the top right of the map will let you pan, zoom, and select areas on the map. Double-click on the map to unselect any selections you've made (if you're using a trackpad, you'll need to click and not tap). 

Please note the defined dashboard radius is the maximum limit, and we get the closest x number of listings from its center point. If you notice on this map that the generated listings aren't covering the whole radius, it's only because your dashboard hit the maximum listing count. 

Creating a Comp-Set
Using the view above, let's create a comp set of 3-bedroom listings in this area. You can use the bedroom filter on the top row to narrow down the list to 3 bedroom units, then use the check box to add the bathroom filter to the listing grid. Select the listings you want to include in your comp-set, or click "Select all" to include all the filtered listings. 

When you're ready, give the comp-set a name and click "Generate Comp Set" and you'll be prompted to verify the number of listings included. Click to confirm your selection, and your comp-set will appear on the list of available comp-sets in the drop-down on the top left of the dashboard. You can use your comp-sets or any of our pre-loaded comp sets to filter the data shown in the rest of the dashboard. 

Many tables in PriceLabs will come with a filter row for each column. Here's a guide on how you can filter data:
  1. (equals), > (greater than), >= (greater than or equal to), < (less than), <= (less than or equal to), and contains are supported by all data types (numeric, text, datetime, and any)
  2. With contains, the right-hand-side needs to be a string, so {Date} contains "01" will work but {Date} contains 1 will not
  3. datestartswith is supported by datetime
  4. is nil is supported by all data types
  5. is blank is supported by all data types
Filtering Syntax provides the complete set of options for filtering text and numeric columns

The Summary Section   

The Summary Table shows the number of active listings in the area, along with median pricing, LOS, and booking window we've seen over the past year for the full set of listings and each bedroom category.  

The Supply and Demand charts below the table show the average number of new bookings each listing has seen in the week ending on the indicated date, you can click to show the number of total active listings for that period as well. 

The Market History charts show the average revenue, occupancy, booking window, and length of stay for listings that saw bookings in that month. If a booking spanned multiple months, the revenue for that stay counts toward the month with the check-in date. You can view these trends averaged by month for the entire market, or by bedroom category. 

You can click the menu to see those figures broken down by bedroom category if you'd like to see a more detailed view for each month. 

Key Future Dates spotlights a few dates that have a higher occupancy percentage compared to the dates surrounding them. You can use the dates shown here to spot emerging high-demand periods and adjust pricing and stay requirements accordingly, and you can check out how each of these dates appear on the Future Occupancy Chart below to compare how bookings are being made on surrounding dates. 

The Future Occupancy, Bookings and Cancellations graph has three lines: Occupancy (in red), Pickup (in red dashed lines), Cancellations (in grey), Occupancy - last year final (in grey dashed lines), and Occupancy - last year today (in grey dot dash lines) made in the selected time frame. In the image below you can see that occupancy for Aug 1st 2023, is at about 29.40% and in the past 30 days almost 11% of listings have seen new bookings, and 4.30% of listings have seen cancellations for that date. The occupancy graph can give you an idea of which dates are still busy and which are low demand dates to think about how you should price your property. The chart will default to showing about the next year's worth of data, but you can use the sliders below the chart or the date range selectors to narrow in on a shorter date range, or select the number of past days for which you'd like to see booking activity. 

The Future Prices graph details how property managers are pricing their properties for future dates. Between this and graph above, you can start to think about the revenue management strategy for your properties. The Median Booked Price line is an estimate of the prices at which listings are getting booked. This line is not shown automatically by default since it's an estimate, but you can add the line to view our estimates along with the percentile graphs by ticking the Median Booked Price box above the graph.  

Day of the Week Occupancy and Price Factor Charts show you the average occupancy and base prices for each day of the week seen over the past 30 days for listings in your selected area. 

The Length of Stay by Stay Date graph shows the typical duration of bookings made for any given date made in the past number of days selected. You can hover your mouse over the graph to see details on stay length and average nightly rate for a specific date. The chart below shows that most of the bookings on August 1st, 2023, were for long-duration stays (29+ days).

LOS vs Booking Window charts compare the booking window to the length of stay for booked nights. The left details the number of occupied nights for each booking window range, while the right chart shows how many nights have been booked in each stay length category. Each graph tell us that 14.65k nights were booked 2-4 months before the check-in date and that 17.734k nights were booked as part of a 7-14 night stay. 

You can see different options to view data on booked nights and bookings if you click the dropdown. The options there are: 
  1. Booked Nights
  2. Booked Nights by LOS and Booking Window
  3. Bookings
  4. Bookings by LOS and Booking Window
  5. Booked Nights Weekend Only
  6. Booked Nights Weekend Only by LOS and Booking Window
If we switch our view to break down the booked nights by LOS and booking window, we can see on the left that the last-minute stays booked in the past 30 days range in length from 3 to 28 days, and on the right, the booking window for the popular 7-14 days stays in this area are usually 2-4 months.

The Amenities Section    

This section has two charts detailing desired features in a listing by comparing the percentage of listings with an amenity to the percentage of bookings with the amenity. The Common Amenities chart orders the amenities by the percentage of listings that have them, while the Desired Amenities chart orders the amenities by those with the largest difference between the percentage of listings with that amenity and bookings.

In the example below, you can see on the Common Amenities chart that about 98.54% of listings in this report have Wifi in their listing details, but a bit over 99% of stays are booked with listings that mention having heating. 

And on the Desired Amenities chart, "Hairdryer" listings have the biggest difference between the percentage of bookings made and listings that report having that amenity.

If there is a specific amenity you are trying to find details on, you can use the search bar to see how many listings in your area have that amenity. Note that this searches only the 50 most common amenities in your market. If an amenity, shampoo, for example, is in high demand right now, you should be sure to add that amenity to your listing page if you have it as it seems to be desired. 

Policies and Fees

Similar to the amenities charts, the Weekly Discounts and Monthly Discounts charts show the percentage of bookings made in the past 30 days compared to the percentage of listings that have a fee in that range. 

The percentage of listings and bookings made are shown in the same way here with the charts for Cleaning Fees and Cancellation Policies.

And on the Max Number of Guests and Extra Person Fees chart. 

Export as PDF

The final section allows you to filter listings with your desired bedroom count, your selection here will apply to all sections on the dashboard. You can also export a PDF of the dashboard that you can share with your team or property owners! You'll need to apply any filters you'd want before exporting, click "Generate PDF" and then you'll see the option to download the report when the PDF is ready. 

We hope that you will find these graphs helpful! Use them to spot anomalies in the market, analyze what other STRs are doing, or simply benchmark your performance against the market. 

The data on the dashboard refreshes daily as long as the refresh switch is on, so you can stay updated on your market with little effort.

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