Home Staging by Numbers
I finally carved out couple hours this week and pulled the numbers for the projects we did in 2014. One of our main goals in the business is to help our clients to create wealth. Here is how we did last year:
WE STAGED $45,302,460 WORTH OF REAL ESTATE LAST YEAR.
- 97.68% of our projects were vacant home staging.
- Out of the sold properties, 87.80% of our projects sold within 30 days.
- Out of the sold properties, 88% of our projects were sold over-asking.
- The price differences ranged from $100 – $405,000 over the original asking price, which translate to 0.02% to 45.25% increase from their original listing prices.
- Altogether, $4,443,985 more than the original asking price.
- Average days on market (DOM) for our staged and sold properties were 17.58 days.
- Comparing to public data from San Mateo County, the average DOM for residential homes in San Mateo County last year was 3o days (source).
- According to public data, the smallest average DOM last year in San Francisco County was 28 days, for residential houses in Q3 2014 (source).
These are pretty fantastic results. I was surprised by the stats when I looked them up. We generally were pretty focused on work and I rarely looked up numbers and tallied up the numbers.
Out of these data, obviously we are pretty happy about the over-asking part. But that can be dependent on agents’ pricing and marketing strategies. I am more thrilled about the decreased DOM. I feel that is something that speaks more to the power of home staging. Every day the home sits on the market, it adds more stress and expenses for the sellers, like mortgage, showing costs, utilities, home owner’s insurance, etc. I always feel that home staging can change lives, this is where I feel what we do matters.
SOME OF OUR WORK FROM LAST YEAR
Obviously, we cannot take all the credit for the homes sold faster and for more money. It is crucial to have an experienced agent who knows the market well and how to properly price and market the home. But it is undeniable that home staging has helped the homes to increase their curb appeal, so they could sell faster and for more money.