This project aims to assist property owners in making informed decisions about listing their properties on Airbnb in Washington, DC. The client has several properties and wants to optimize their listing strategy. The following key questions are addressed:
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Average Price by Zip Code:
- What is the average price of properties in different zip codes across Washington, DC?
- How can this information help determine the best price for listing?
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Seasonal Trends:
- When is the best time of the year to list a property?
- Are there specific months when demand is higher, leading to better prices?
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Price vs. Number of Bedrooms:
- How does the price of a property change based on the number of bedrooms?
- Is there an optimal bedroom count for maximizing revenue?
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Competitor Analysis:
- Who are the competitors in terms of the number of bedrooms?
- How does the client's property compare to similar listings?
The analysis is based on Airbnb data (https://www.kaggle.com/datasets/alexanderfreberg/airbnb-listings-2016-dataset) for Washington, DC, including property details, pricing, and availability. The data was collected from public Airbnb listings and enriched with geographical information.
A comprehensive Tableau dashboard has been created to visualize the insights gained from the analysis. The dashboard includes:
- Interactive Map: Displays average prices by zip code, allowing the client to explore different neighborhoods.
- Seasonal Trends Chart: Shows weekly trends in property prices, helping the client choose the optimal listing time.
- Price vs. Bedrooms Bar Graph: Illustrates how property prices vary with the number of bedrooms.
- Competitor Comparison: Compares the client's property with similar listings based on bedroom count.
By leveraging this dashboard, the client can make data-driven decisions regarding pricing, bedroom configuration, and listing timing. Whether they are new to Airbnb or experienced hosts, this analysis provides valuable insights for successful property management.
