Market Research Homework Assignment for Short Term Rentals
Hey everyone! I'm working on filling out the Module 2 worksheet for Short Term Rental Bootcamp with BiggerPockets. It's all about doing market research. It asks questions that I don't know how to find the answer to (I'm still catching up on everything) so wanted to ask this community and with your experience, where you may find the most accurate information or who you go to when you're doing your market research:
How do I find out the answers to these questions:
1) How many active listings are in this market? -- I got this number from AirDNA but how do I know this is accurate. Do I just go with it?
2) Which months are slower? busier? -- I got this from AirDNA as well. Is that right?
3) What is the main economic driver of the market— travel & tourism or some other industry? --- Is there a site that provides this info? Do I ask my agent?
4) What's the average price for a 1 bedroom in your market? A 2 bedroom? A 3 bedroom? etc.
Thanks for all your help!