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 building our staging business is to help our staging clients to create wealth through the sale of their properties/listings. Here is how we did last year:
WE STAGED $45,302,460 WORTH OF REAL ESTATE LAST YEAR.
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97.68% of our projects were vacant home staging.
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Out of the sold properties, 87.80% of our projects sold within 30 days.
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Out of the sold properties, 88% of our projects were sold over-asking.
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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.
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Altogether, $4,443,985 more than the original asking price.
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Average days on market (DOM) for our staged and sold properties were 17.58 days.
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Comparing to public data from San Mateo County, the average DOM for residential homes in San Mateo County last year was 30 days (source).
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According to public data, the smallest average DOM last year in San Francisco County was 28 days, for residential houses in Q3 2014 (source).
Out of these data, obviously we are pretty happy about the over-asking part for our seller clients. I am even more thrilled with the difference in DOM.
I feel that really speaks to the power of home staging. Every day the home sits on the market, it adds more stress and expenses for the sellers. For example, mortgage, showing costs, utilities, homeowner’s insurance, etc. I always feel that home staging can change lives, and this is where I feel what we do matters.
Related: How Home Staging Helped This Listing Sell for $308,000 Over Asking
Obviously, we cannot take the full credit for the homes selling faster and for more money. It is a team effort when it comes to selling real estate!
It is crucial to have an experienced real estate agent who knows the local market well, how to properly price and market the listing, navigating the transactions and negotiating on the seller’s behalf. 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.
