This is the $60,000 question, isn’t it? Even with pricing aps such as Beyond Pricing, you have to know what to charge as a base price. Comparing airbnb listings is a nightmare as they are all so different, and so many new hosts intentionally, or unintentionally, low-ball the price.
I would raise your price a bit and see what happens. If you can afford it, use it as an experiment time. The friends that have been on this forum for awhile know that I’ve struggled with this issue painfully, especially as I looked at ‘price tips’ as valid, and they are totally shameful.
Yesterday I had my base price at $109 ($20 cleaning fee, $20 each person over 3 people). I was tempted to lower it. Then remembered advice I gave to @faheem and thought ‘let’s experiment’ and left it at that price. Just 10 minutes later I got a booking, filled in an empty spot in August perfectly. Best part of this was I was on my way out the door to my LAST DAY at one of my part-time jobs, one that I’m quitting because of airbnb (and other reasons, but airbnb is replacing that income).
And listen to @jaquo. Sit down and think ask yourself ‘how much do I need to earn?’. For me, I’m replacing a part-time income, and rental income from a student. I have to know that I’m making at least that much. Then, I calculated how many weeks of the year I want to be committed to this - we rent in our home so have to be here (at this point). I decided we want 5 weeks off a year. Then I calculated what I need to earn, on average, each of the nights we want to book, to make the money I want to make. It comes out to $100 a night for 21.5 nights a month. So my base price is (for now) $109 plus the cleaning fee. Since most of our groups are 4 or more, I’m looking at making that average easily.
Except that I booked a chunk of my summer at a stupidly low price. I was almost fully booked by February or March . Next year = PROFIT. Now, thanks to the help I’ve gotten here, I’ve blocked off the week of (US Presidential) inauguration until after the election. Beyond Pricing was increasing my prices for those days almost every day, so I’m waiting until we know who the winner is
One more word - since you are unsure of the price, block a portion of your calendar so it doesn’t get booked up and then you realize (like me) that you are giving it away. I think it was @Rory_Taylor that also learned this lesson. He had some cancellations that he can rebook at his glory-price, but my guests rarely cancel as my place is a stop on a planned vaca from Europe or Asia.
Good luck! May we see your listing?