Airbnb Seattle Data Analysis
Airbnb is most popular option for travelers as its very convenient and affordable. While planning the stay travelers look at multiple factors of the shortlisted properties, one of the most important being price of property. In this blog, we will be analyzing Seattle property listings.
This project provides us with three datasets: Property Listings, Calendar & Reviews of Properties. I will be posting few business questions and will solve those questions with help of visualizations and data analysis.
Our analysis is to understand factors that influences pricings, doing deeper analysis to understand how holidays/days of week impact pricing. Below are few questions that will be discussed further:
- Which category of property tends to have higher cost?
- What is the occupancy rate in 2016 across months?
- What factors is price dependent on?
- Which time has the highest price?
- How does price fluctuate from weekdays versus weekends?
- Which holiday has the highest price rate?
Q-1) Which category of property tends to have higher cost?
Let’s use boxplot to do this analysis. Box plot graphically depicts numerical data groups through their quartiles. We can check the medians, min & max price value across property types.
Boat Properties seem to have highest price median an Dorms have the lowest. Boat also seems to have highest price during peak seasons. Apartment, Bed & Breakfast seems to have optimal average price of ~$115 and ~$100 respectively. Dorm and Tent seems to have lowest average prices.
Q-2) What is the occupancy rate in 2016 across months?
The above graph shows high occupancy rate in the following months: March, October, November & December.
Q-3) What factors is price dependent on?
Lets read through correlation factor to understand the relation between price and other variables. Higher the correlation factor, more the dependency.
Price is directly correlated to bedrooms, bathrooms, accommodates and beds. Hence the price is higher for listings which have more bedrooms, bathrooms, beds etc.
Q-4) Which time has the highest price?
To get which month/time has highest price, let just plot the average price of every month.
Price is highest in July,2016 and lowest in Januray,2016 with average price of ~$152 and $121 respectively.
Q-5) How does price fluctuate from weekdays versus weekends?
First of all, create a new column which gives the day of the respective date. Then we can graphically see which day has higher price average values. We can also define weekends and weekdays to study price distribution of weekend versus weekdays.
Its clearly visible Friday, Saturday has higher average price.
Q-6) Which holiday has the highest price rate?
Lets check the price average of US holidays.
July holiday has the highest price, owing to Independence day which is on 4th July.
Conclusion
Based on our analysis so far we conclude that July month sees the highest price while Jan has the lowest dip. After doing a deep dive into it, we understand 4th July has the highest pricing compared to all the other holidays, owing to Independence Day.
Boat is one of the most expensive properties offerings. Weekends also sees higher prices compared to weekdays and more the number of beds, bedrooms, bathrooms, higher the price goes.
Now when you plan the next trip, you can take above factors into consideration to get the best bet.
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