Nights sold against nights available, with owner blocks taken out. Then the part that matters: whether that number is good.
The middle half of US entire-place listings fills 48% to 67% of available nights. Hotels run lower, near 63% nationally, because inventory turns differently. Neither number settles your case — a beach town at 44% in February can be doing fine, and a downtown condo at 80% all year is usually underpriced.