Smoky Mountains Short Term Rental Market Analysis - March 2023

Michael ChangApr 20, 20233m 0s141 viewsScore 75
Pricing & Profitability
intermediate
market analysis
demand vs supply
pricing strategy
STR trends
Smoky Mountains
M

Summary

AI-generated

This video analyzes the Smoky Mountains short-term rental market for March 2023, revealing an 18% increase in demand and a 16% rise in supply. While overall rates declined slightly, mid-tier properties are experiencing the most pressure, with budget and luxury segments holding steady or growing.

Key insights

  • The market experienced a reversal in March 2023, with demand exceeding supply by 2%, a positive sign after demand drops in January and February.

Mistakes to avoid

  • Ignoring increased supply in the market can lead to declining occupancy and necessitate price cuts to attract bookings, especially for mid-tier properties.

Tools & resources

  • AirDNAtool

    AirDNA is a data analytics platform used to analyze short-term rental market trends, demand, supply, and pricing.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial