Home Staging Statistics in 2024
As we delve into the latest home staging statistics for 2024, we’ll explore how these trends are shaping the market and why staging remains a smart investment for anyone looking to sell their home.
In today’s competitive real estate market, home staging has become an essential strategy for sellers looking to make a great first impression. Home staging is the process of preparing a house for sale by making it look its best.
This can involve anything from decluttering and cleaning to rearranging furniture and adding stylish decor. The goal is to help potential buyers visualize themselves living in the space, which can significantly speed up the selling process and often increase the final sale price.
As we move into 2024, it’s clear that home staging continues to play a critical role in real estate transactions, backed by compelling statistics that highlight its benefits.
Understanding the impact of home staging is crucial for both sellers and real estate professionals. Recent data shows that staged homes sell faster and for more money compared to non-staged homes.
In fact, many studies indicate that a well-staged home can reduce the time on the market by as much as 50% and can boost the sale price by 5-20%.Â
These statistics are not just numbers; they represent real advantages for sellers who invest in staging.
Top Home Staging Statistics 2024
Let’s explore some interesting stats about home staging and what they mean for 2024 trends:
Visualizing Home
A whopping 81% of agents in 2024 found that staging made it easier for potential buyers to picture themselves living in a home.
Room to Stage
Buyers are particularly drawn to a well-staged living room, with 39% of them prioritizing this space.
Impact of Staging
Over half (58%) of agents noted that staging significantly influenced how buyers perceived a home.
Online Attraction
Staging led 40% of buyers to be more inclined to check out a staged home they saw online.
Dollar Value Boost
In 2024, 20% of agents observed a 1% to 5% increase in the dollar value of staged homes compared to unstaged ones.
Taste Matters
About a third (34%) of agents believe that staging positively affects home value if it suits the buyer’s taste.
Family Influence
Surprisingly, 30% of buyers consulted family members during the buying process, even if they weren’t going to live in the home.
Price Premium
Based on a 2021 survey, professionally staged homes fetched an average of $40,000 over the list price.
Long-term Trend
Home staging has been crucial for years, with 29% of buyers in 2019 considering it essential to their search process.
Generational Impact
Younger generations, especially Generation Z (48%) and millennials (40%), view staging as extremely or very important.
Quick Sale
Nearly half (48%) of agents noted a decrease in the time a staged home spends on the market.
Seller Recommendations
Agents commonly advise sellers to declutter their homes (96%) and prioritize cleaning (next in line after decluttering).
Benefits, Costs, and Return On Investment (ROI)
of Home Staging
Benefits of Home Staging
Visual Appeal
Staging showcases a ready-to-move-in home, helping buyers envision themselves living there and forming an emotional connection.
Profit Potential
Reports show that staged homes often sell for 5% to 23% above the listing price, indicating significant financial gains for sellers.
Faster Sales
Staged homes tend to sell much faster than unstaged ones, with an average time on the market of just 23 days compared to 184 days for unstaged homes.
Home Staging Cost Statistics
Varied Costs
Home staging expenses vary depending on services chosen, such as furniture reorganization, color consultations, decluttering, and staging specific rooms or the entire home.
Median Cost
Hiring a staging service typically costs around $600, while personal staging by the seller's agent averages about $400.
Room Staging
Staging all rooms in a vacant house can range from $2,900 to $5,250, while initial design consultations and monthly decor rentals can cost between $300 and $600 per room.
Home Staging ROI
Desirability Boost
Staging yields a positive ROI, with about 75% of sellers seeing returns of 5% to 15% over the asking price.
Investment Returns
Investing just 1.3% in staging can result in an average over-list return of 7.1%, while staging can increase the sale price by up to 20% on average.
Avoiding Losses
Sellers who skip staging risk significant price reductions, sometimes five to 20 times greater than the staging investment would have been.
These insights underscore the financial benefits of home staging, making it a worthwhile investment for sellers looking to maximize their profits and sell their homes quickly.
Exploring Singapore's Property Market Scene: Fun Facts and Tips
Real estate investment in Singapore is a big deal, with different areas offering unique opportunities. Let’s dive into some interesting facts about the real estate environment in Singapore and how it shapes the real estate journey for buyers and sellers alike.
HDB Flats
Did you know that over 80% of Singaporeans live in government-built HDB flats? These flats often look similar, but real estate agents suggest that sprucing them up with professional staging can make a huge difference. By making each flat stand out, sellers can attract more buyers and make a better deal.
High-End Properties
If you’re into high-end waterfront properties, Sentosa Island is the place to be. But selling these swanky homes requires some flair. Real estate advice often includes staging the property to highlight its luxurious features. This way, potential buyers can see the full potential of these upscale homes and be more inclined to make a purchase.
Good Class Bungalows (GCBs)
GCBs are the epitome of luxury living in Singapore. With their unique designs and lush surroundings, they’re a hot commodity. Real estate agents recommend staging these properties to accentuate their grandeur. By showcasing their beautiful gardens and spacious interiors, sellers can attract the right buyers willing to invest in such premium properties.
Condominiums
The en-bloc sale trend is all about selling entire condominiums in one go, and it’s a competitive market. Real estate advice for developers involved in these sales often includes staging the properties to help buyers envision their potential. By showing how an older building can be transformed into a modern masterpiece, developers can attract more investors and seal the deal.
In Singapore’s diverse real estate environment, staging isn’t just about making a property look pretty—it’s about making it sell. Whether it’s a modest HDB flat or a luxurious GCB, staging can make all the difference in a successful real estate journey.
Takeaway
In wrapping up, home staging isn’t just about fancy decorations—it’s about scoring big in the real estate game. By jazzing up your home and making it irresistible to buyers, staging can put more money in your pocket and get that “sold” sign up faster.
Sure, there’s a bit of investment involved, but the returns in higher sale prices and quicker transactions make it a smart move. Whether you’re gearing up to sell your own place or helping others navigate the market, remember: staging isn’t just a nice-to-have, it’s a must-do for real estate success!
