Can someone please help me understand if there’s a threshhold hosts need to meet before their overall host rating goes up? We’ve had 268 5-star ratings and four 4-star ratings in the last 365 days and our overall rating remains 4.97. I’m pretty sure it was 5.0 the previous year. Do four 4-stars really have that big of an effect? Or is there a magical threshhold that has to be reached for the overall score to go up again?
No, it’s straightforward math.
268 x 5*= 1340
4 x 4* = 16
1340 + 16 = 1356
1356÷ 272 (# of reviews) = 4.98
Not sure why yours is showing 4.97 though, unless you counted up the number of reviews at each star level wrong, though.
Also, I think the overall rating that shows on your listing is for all the ratings you have ever gotten. (Someone please correct me if I’m wrong on that).
The past 365 days is what is counted for Superhost criteria.
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We understand the math but not the reasoning
We had a 4.97 about six months ago since then have had 24 consecutive 5* and yet our average rating dropped to 4.89.
What do you mean by “the reasoning”? It isn’t based on reasoning, it’s based on math. You are figuring something wrong if your rating has gone down after 24 consecutive 5 star reviews.
Is the rating you are looking at the rating on your listing, or on your Superhost stats?
It would be great to have replies. 
So really, what you are saying is that it doesn’t matter how many 5 star ratings you have - just one 4 star overall rating means you will never again be 5 star because that one will always pull the overall down? And that there isn’t a resetting period for the overall rating in the same way that Superhost criteria only accounts for the previous year?
Correct. I think you could make it back to 5 stars, but it takes a long time and a lot of reviews.