Staging Statistics and How to Increase Sales in 2021
Imagine walking into a home you’re interested in buying, the walls, floors, and rooms themselves are bare. It has an empty and abandoned feeling to it, your voice echoes off the walls, and you can’t quite imagine this empty shell of a house transforming into your home. This isn’t the warm and fuzzy feeling you were expecting while on the journey to falling in love with your next home, so in your mind, you are already on to the next. According to staging statistics, an unstaged home is guaranteed to feel colder and less welcoming, maybe even to the point of a no-sale even if it checks all the wish list boxes.
The Difference Staging Can Make
When touring an empty space it is easy to find small things wrong with it, for example, chipped paint, scratches on the walls, etc. because there is nothing to look at other than the permanent structures within the interior of the home. This can make for a lower offer or even a pass, staging helps to distract from small blemishes while showcasing exactly what you want the buyer to focus on. This is if you even get a buyer in the door, typically when searching for a home people look at online pictures before scheduling a time to visit them. If the pictures are empty, dull, and unwelcoming, then it is more likely to be scrolled past without even a consideration, staged homes just look better and give the customer an idea of what their new home’s potential is. Not to mention many staging teams also provide professional photography services to help get buyers to the location. Staging is a proven way to design the interior of a home being sold in such a way that will result in a faster and higher offer for the seller.
Staging Statistics - Impact on Buyers
Realtors working with buyers report most are willing to offer more money for a staged home compared to a similar style non-staged home.
81% of buyers say home staging helps them visualize the property as their future home
45% of buyers state the home being decorated will positively impact the value they assign to a property
Staging Statistics - Impact on Value
25% of agents report buyers are willing to spend 1% to 5% more on a staged home while an additional 12% report a 6%-10% increase
Staged homes sell for more than 6% above the asking price on average
Staged homes are more likely to sell with multiple offers driving up the price
Staging Statistics - Impact on Time on Market
According to the Real Estate Staging Association, homes that are staged before going on the market sell 73% faster, on average, than their non-staged counterparts.
The question is how to increase sales in 2021? The answer, stage your home. Staging is a great way to draw people into your home to get a faster sale at a higher price. It is arguably one of the most important things to consider doing before putting a house up on the market. Be sure to also check out our blog: Staging Trends you can expect to see in 2021 for the best tactics for the upcoming year and more information on staging itself.
For a real staging statistics example, VNTG Place has restored and staged over 200 homes since opening in 2017 and has an average of homes being under contract within 8 days of hitting the market vs. the national average of 65 days. Also, the return on investment for VNTG Place staging is financially compelling at the cost of only $1 dollar per square foot. Over 40% of staged homes sold for over asking price with multiple offers, and they have added on average a 30% value increase to the average square footage price of the home. Whether you are a real estate agent or looking to sell your home contact VNTG to see how they can help benefit you in your home-selling journey.
