One of the hardest things to do is figuring out the right price for your property. When doing this, it is very important to make sure you're aware of any local events that may result in significant changes to your pricing.
The competitor rate analyzer is a great tool to look at how other properties are priced and make sure you're pricing your property within the right range. Whether you fall at the middle or top end of that range will depend on your property's review history and amenities.
First, in your dashboard, scroll down to the competitor rates chart:
Look at the chart in detail to identify trends or outliers and use the date filters at the top right to zoom in. In this example there are two clear events in February and April. You can use your competitor's rates during those time periods as a reference; in this case you would probably configure higher rates from February 19th through February 24th and April 8th - 12th.
It's a good idea to visit this chart periodically to see where your pricing (in black) stands compared to your competitors. As your property matures and begins to get more and more reviews, you should be able to start raising rates so that you're maximizing your revenue. A side-effect of raising rates could be a lower occupancy, so it takes some testing to figure out the right balance to maximize your revenue.