In the ever-evolving realm of real estate, the art of home staging has emerged as a potent strategy for enhancing a property's appeal and accelerating its sale. Whether it's renovating, rearranging furniture, updating decor, or transforming spaces, home staging has proven its effectiveness in capturing buyers' attention and maximizing the value of a home. To shed light on the significance of home staging, we've curated a collection of top home staging statistics for 2024, outlining key trends and insights that underscore its importance in today's market. We will be referring to American sources since home staging comes from there and they have more data available.
Before / After Project in Estoril
Selling 73% Faster: The Influence of Home Staging on Time on Market
Time is of the essence in the real estate market, and staged homes tend to spend less time on the market compared to their non-staged counterparts. According to the Real Estate Staging Association (RESA), staged homes sell 73% faster, on average, than vacant properties. This accelerated selling process reduces carrying costs for sellers and expedites the transition to their next home.
Before / After Project in Estoril
Boosting Sale Price by 1-5%: The Impact of Home Staging
Did you know that staging your home can significantly boost its sale price? According to the National Association of Realtors (NAR), staged homes typically sell for 1-5% more than comparable non-staged homes. Additionally, a study by RESA found that professionally staged homes sold for an average of $40,000 over the list price. These statistics highlight the financial rewards that staging can yield for sellers.
Before / After Project in Estoril
Reduced Time on Market: 23 Days vs. 184 Days
In the fast-paced world of real estate, time is money. Staged homes have proven to be significantly more efficient in terms of time on the market compared to their non-staged counterparts. Consider this: while non-staged homes typically spend an average of 184 days on the market before selling, staged homes sell in just 23 days, a remarkable 87% reduction in time spent waiting for a buyer. Moreover, nearly half of all agent - 48%, to be precise, have observed this trend firsthand, noting the decreased time staged homes spend on the market. This statistical evidence underscores the efficiency and effectiveness of staging as a strategy to expedite the selling process and maximize the potential of your home.
Before / After Project in Estoril
83% Visualize: The Impact of Staging on Buyer Perception
Buyers' perception of a property is crucial in determining its market success, and home staging plays a pivotal role in shaping this perception. According to the National Association of Realtors (NAR), a staggering 83% of buyers' agents agree that staging makes it easier for potential buyers to visualize the property as their future home.
Enhancing Appeal: Staging enhances the overall appeal of the property, creating an environment that resonates with potential buyers.
Creating Warmth: Empty rooms can feel cold and uninviting, but well-placed furniture and decor transform the space into a warm, inviting haven.
Showcasing Features: More than half of buyers' agents report that staging positively affects most buyers' view of the home. This positive impact extends to showcasing the property's unique features, making them more prominent and desirable.
Move-In Ready Appeal: Staged homes convey a sense of move-in readiness, reducing perceived hassle for buyers and appealing to those looking to avoid the stress of furnishing and decorating.
Camouflaging Imperfections: By camouflaging minor flaws and imperfections, staging ensures that buyers focus on the overall aesthetic and comfort rather than minor issues.
Professional Furniture Layout: Professional stagers not only select appropriate furniture sizes, (such as 2-seater, 3-seater, or sectional sofas, dining chairs, and queen or king beds), but they also provide ideas for furniture layout. This is crucial because many buyers lack a design background and struggle to understand how the space can be utilized effectively in real life. By showcasing optimal furniture arrangements, staging helps buyers envision themselves living comfortably in the home, leading to increased interest and quicker sales.
Before / After Project in Cascais
40% More Viewings: The Impact of Staging on Online Engagement
In today's digital age, online engagement plays a crucial role in attracting potential buyers to a property. Staging significantly enhances online engagement, with a notable 40% of homebuyers expressing a greater willingness to visit a staged home they see online.
Online Appeal: Staged homes capture the attention of online viewers, compelling them to take the next step and visit the property in person.
Enhanced Interest: The visually appealing presentation of staged homes generates greater interest among online viewers, driving them to schedule viewings and explore the property further.
Appealing to Younger Generations: Younger generations, including Generation Z and millennials, place a high value on visiting staged homes. In fact, 48% of Generation Z buyers and 40% of millennial buyers consider visiting staged homes extremely important.
Before / After Project in Cascais
Boosting Selling Price: 5% to 23% over the listing price
Staging your home not only enhances its visual appeal but also has a significant impact on its selling price. Here's how staging can boost the final sale price of your home:
A 2021 report found that an impressive 85% of staged homes sold for 5% to 23% over the listing price. This demonstrates the potential for staging to attract higher offers from buyers, resulting in a more lucrative sale.
20% of buyer’s agents noted that staging a home resulted in a 1% to 5% increase in the dollar / euro value offered by buyers compared to equivalent homes that were not staged. This indicates that staging can directly influence the perceived value of a property in the eyes of potential buyers.
Professionally staged homes sell for an average of €40,000 over the list price, based on a 2021 market survey. This substantial premium highlights the substantial financial benefits that staging can offer to sellers.
By investing in staging, sellers can maximize their home's selling price and secure a higher return on their investment, making it a financially savvy decision in the competitive real estate market.
Before / After Project in Cascais
Maximizing ROI: Investing 1.3% in staging results in a 7.1% average over-list return
Investing in home staging not only enhances the visual appeal of your property but also delivers a significant return on investment (ROI). Here's how staging can maximize your ROI in the real estate market:
About 75% of sellers see an ROI of 5% to 15% over the asking price when they choose to stage their homes professionally before they put them up for sale. This demonstrates the substantial financial benefits that staging can offer, resulting in higher sale prices and increased profits for sellers.
Investing 1.3% in staging results in a 7.1% average over-list return, according to a 2021 survey. Despite the upfront costs of staging, the potential for a high return on investment makes it a wise financial decision for sellers looking to maximize their profits in the competitive real estate market.
Staging helps increase the sale price by up to 20% on average based on a 2022 report.
Sellers who chose not to stage their homes experienced an average home price reduction of 5 to 20 times greater than the staging investment would have been.
Before / After Project in Cascais
What Is the Cost of Staging an Empty Property?
The cost of staging an empty property can vary widely, typically ranging from €1,800 to €5,000 which includes design, packing, delivery, unpacking, assembling, staging, styling, photography, and two months of furniture rental with the option to extend. Factors influencing the cost include the home's size, location, the extent of the staging required, and the duration of furniture rental. While this might seem like a significant expense, the potential return often justifies the cost considering the fact that professionally staged homes sell for an average of €40,000 over the list price.
Before / After Project in Cascais
Is Staging Necessary in a Hot Market?
Even in a hot market, staging can be beneficial. It helps differentiate a property from others, potentially leading to multiple offers and a quicker sale, sometimes at a higher price. Buyers are more likely to be drawn to a home that looks well-cared-for and move-in ready, even when the market is competitive.
Before / After Project in Cascais
What Are the Key Elements of Effective Staging for an Empty Home?
Neutral and Appealing Furniture: Using neutral colors and styles that appeal to a broad range of buyers. 34% of buyer’s agents said that staging positively affects home value if decorated to a buyer’s taste which is usually neutral, light, bright and airy and a 2019 report stating that 29% of buyers consider a staged home important to their search process.
Tasteful Decor: Adding current trend decor items that enhance the home’s appeal without overwhelming the space.
Proper Lighting: Ensuring that rooms are well-lit to appear bright and welcoming.
Strategic Furniture Placement: Arranging furniture to highlight the home’s best features and create a flow that guides potential buyers through the space comfortably.
Why choose a professional stager?
Staging by a professional stager offers distinct advantages over DIY efforts by the agent or seller. Professional stagers bring a trained eye and expertise in showcasing a property's best features, maximizing its appeal to potential buyers. They possess a deep understanding of design principles, current trends, and buyer preferences, allowing them to create inviting and aspirational spaces that resonate with a wide audience. Additionally, professional stagers have access to a vast inventory of furniture, decor, and accessories, ensuring the property is presented in its best possible light. By entrusting staging to a professional, sellers can significantly enhance their home's marketability, attract more buyers, and ultimately achieve a faster and more lucrative sale.
Ready to get your home sold faster and for more money?
Contact us today to schedule a phone consultation with our professional staging team. Let us help you unlock the full potential of your property and navigate the real estate market with confidence. Together, we'll create an inviting atmosphere that resonates with buyers and maximizes your selling potential.