The total number of Airbnb properties in three major tourist areas in Hawaii has increased by over 100% in the last week! From March 29 to April 4, 2021, Maui had a total Airbnb room/unit count of 2,763. Honolulu had 1,563, and Kauai had 1,247. Then, our deep learning algorithm picked up a substantial surge in listings in these three areas. Maui jumped to a total of 6,121, Honolulu jumped to 3,547 and Kauai increased to 2,446. In percentages, Maui increased by 122%, Honolulu by 127%, and Kauai by 96%.
Airbnb started a large-scale marketing campaign at the start of 2021 to expand its host network in time for Summer. This started with the disbanding of the Airbnb Associates Program and has slowly increased in success.
Anytime we see a big shift in the market, we’ll draft one of these data-insight news blasts to keep you in the loop. In a ‘Coming Soon’ development, you’ll be able to sign up for data reports generated by Markets by DPGO. Stay tuned to our Facebook page for news on the launch of this latest innovation from DPGO!
February is a difficult month for short-term rental hosts and managers. After the industry unrest caused by the pandemic, experts predicted that February 2021 would be one of the worst-performing months of the last few years. We dived into the data, and here is what we found…
We don’t know where those “experts” got their numbers! Because it’s certainly not what we saw in our February data insights. Like we did in January, we wanted to look back at the Airbnb industry’s top 10 performing markets. But, unlike the blog post we did back in January, this month we wanted to take a look at something different. We are looking not at the best overall performing markets, but the ones that displayed the greatest positive change.
We divided the data up into more digestible sections, namely occupancy rate, average daily rate, and total room count.
Top 10 Most Improved – Occupancy Rate Data
As you know by now, Airbnb has embarked on a serious marketing campaign to expand its host network. This campaign started at the start of the year. It’s too early to tell whether this campaign has been a success or not. But we isolated the ten most improved counties according to occupancy rates. We compared February and March of this year to show you how the market fluctuates on a monthly basis.
We did our best to scope out why each of these areas saw such a change in occupancy rate. Remember, February is a slow month in the short-term rental industry. By March of each year, most people are ready for a break, and these smaller, mostly rural counties are the perfect choice for a city escape!
Airbnb occupancy rates fluctuate for a number of reasons, including seasonal demand changes, optimization of listings, hosts using dynamic pricing, and even smaller considerations like events or gatherings.
Top 10 Most Improved – Average Daily Rate Data
Pricing is a complex topic. Prices can, and should, change on a monthly, even weekly, basis. These price fluctuations keep revenue optimized and ensure that your STR business is running as profitably as possible. This list of the top 10 largest price fluctuations between February and March 2021. It shows you how drastically prices can change in the space of four short weeks.
The changes in pricing can be put down to a number of things. Said fluctuations include changes in levels of demand, hosts choosing to price dynamically, and large events in the area. Also, digital nomads opting to “work from anywhere”, seasonal changes, and historical pricing trends also affect pricing.
Top 10 Most Improved – Total Room Count Data
As we previously stated, Airbnb has been focusing its efforts on expanding its host network. This section is proof that it’s working, at least in some places. The below counties saw the largest increase in the total number of listings between February and March 2021. We decided not to break it down into individual listing types, because we wanted to shine the attention on the local market growth in each of these areas.
We have a few ideas as to why the number of listings increased by the percentages below, and these include festive period building delays, increased booking interest, large-scale local investment, development of new attractions, relaxing of travel restrictions, financial incentives from local tourism bodies, and changes in local STR legislation.
Get More Insights from DPGO
We’re experts in local market data, and we know the industry better than most. As our team is made up of experienced Airbnb hosts and real estate investors, we know exactly the type of insights that hosts need to optimize their earnings and maximize their occupancy rates.
Our DPGO dynamic pricing tool combines data collection and analysis with automation and AI-driven pricing recommendations to create the most advanced pricing tool on the market today!
We want you to be happy with your DPGO service, so we’re offering a free 30-day trial for all new sign-ups! Simply create your DPGO account, connect it to your Airbnb profile and watch as we optimize your pricing and revenue.
Everyone in the short-term rental industry knows that February is a bit of a slump month. Christmas and New Year bookings have finished and people are trying to save money after their expensive festive season. But there is some serious news coming out of Sarasota, Florida this month!
Not only has Sarasota overtaken Miami-Dade in the battle of the average Florida Airbnb occupancy rates, but it has overtaken every other Airbnb short-term rental location in the United States!
You read it right – Sarasota, Florida is the county with the highest occupancy rate out of every county in the United States! What an achievement! The area’s occupancy rate for mid-February to mid-March is a whopping 84%. That is a full 24% higher than that of Miami-Dade and 39% higher than Los Angeles.
Interestingly, most hosts in Sarasota (38%) have a minimum night stay requirement of between 7 and 29 days. Compare that with the 2-night minimum stay in Maricopa and the 1-night stay in Miami-Dade! This shows that Sarasota hosts are clearly making the most of the longer-term rental trend! This trend featured on our list of forecasted Airbnb trends for 2021.
The average daily rate in Sarasota is not doing too badly either with $180 per night. Again Sarasota beats Miami-Dade with $152, Los Angeles with $120, and Maricopa with $175. Just for information purposes, the highest average daily rate in the United States was Pitkin, Colorado with $651.
Do You Want More Market Insights From Sarasota and More ?
At the end of 2020, we debuted our Markets feature which allowed non-DPGO users to access select data-driven insights about any market covered by DPGO. We’re happy to report that it has been a huge success! We’ve helped thousands of people access data-driven insights from their local markets.
However, there are a few insights that we reserve solely for our users and honestly, we think it’s high time that you join us! Not only do we share all of our insights with our users, but we also offer a range of pricing strategies that fit seamlessly into your STR business goals. We also offer you the option to design your pricing strategy completely on your own, from Base Price all the way up to discounts and when to offer them. We’re offering all of our users the opportunity to try DPGO for 30-days for absolutely nothing! Click here to start a free 30-day trial of DPGO!
Check out a few more of our latest DPGO blog posts! Did you know that Airbnb recently revealed that new hosts who accepted their first booking after the outbreak of the COVID-19 pandemic have since collectively made $1 Billion? Read more here! Looking to improve your Airbnb success? Read through our 6 Steps to Airbnb Success.