Every estimate is a comparison
A nightly rate, an occupancy figure or a revenue estimate is only as good as the listings it is compared with. Two people can run JokerPrice's calculator on the same pin and get different answers simply because one included every listing within 10 km and the other kept to two-bedroom apartments within 2 km. Neither answer is wrong; they answer different questions. Decide which question you are asking before you read the number.
Start with type, then size
Filter by property type first. Apartments, villas, chalets, rest houses, farms and camps serve different guests on different days of the week, and their prices barely overlap. Then set the bedroom count. If too few listings remain, relax the bedroom filter by one step before you drop the type filter.
Match the radius to how guests search
- Dense city districts. Guests compare places within a few streets, so a radius of 1 to 3 km is usually enough to find plenty of comparables.
- Chalet and rest-house areas. Properties are spread out along the edge of the city, and guests drive to them. A wider radius of 5 to 10 km is often more representative.
- Desert and heritage destinations. Supply can be thin and scattered. Use the widest radius that still stays within the same destination.
The calculator accepts a radius from 0.5 to 20 km.
Check the count and the spread
Look at how many comparables were found and how wide the middle half of their prices is. Five comparables with prices from SAR 300 to SAR 1,500 tell you very little; forty with a tight middle half tell you a lot. If the spread is wide, look at the listings on the map: there is often a cluster of a different product, such as properties with pools, pulling the range apart.
Revisit it
Supply changes. New listings appear, old ones close, and a district that had a handful of comparables last season may have dozens now. Re-run the comparison before each pricing season rather than relying on a comp set chosen once.