Did you you know you can calculate the Pickup proportion each week?
If you’re familiar with our Pickup graph, you know how valuable it can be to focus on the recent demand trends in your market. This graph compares the availability inventory from the week prior to produce a hard number of recently unavailable listings for each date, or an inference of where the bookings are occurring. Depending on the season, these numbers can certainly vary, and even more so in terms of significance when you factor in market size. Your own market expertise will help inform this, but there is also a way to quickly calculate the Pickup percentage for each upcoming date using the total Listings Tracked value for the filtered selection. By dividing the pickup of listings each day by the total listings in your submarket, you can discover the daily proportion of inventory that is experiencing significant demand.
1. First you’ll want to set your filters to a competitive set that you wish to analyze, including the relevant calendar period, and take note of the total Listings Tracked for Your Selection. Download the Pickup graph in Excel.
2. In the blank column next to the pickup values (starting at cell C2), hit equal “=” and type in “B2/total Listings Tracked” (in this case the value is 179), and hit enter.
3. Double click the corner to apply to the entire column. Click on the column heading to select all, and click the percentage sign (%) in the header toolbar to convert each decimal.
You now have the proportion of newly unavailable listings for each date in your selected season, along with the adjacent hard counts. Let both of these outputs indicate when and how your market is experiencing demand and refine your strategy accordingly!