Considering the low inventory, high prices and fierce competition for single-family homes in many markets, real estate investors might be asking themselves, Is home staging necessary?
According to a Real Estate Staging Association (RESA) study of 1,081 sold homes, those that were staged prior to being listed sold more quickly — on average in just 23 days.
With current inventory shortages nationwide, some U.S. markets today are moving even faster than that — staged or not. Regardless of market heat, staging a flipped home is rarely a waste of money and effort, since giving buyers a stunning visual of the home's potential can result in a significant impact on final sale price.
Is Home Staging Necessary?
The RESA study found that of 1,081 sold homes, homes that were not staged spent an average of 184 days on the market (and did not sell) before they were eventually staged and finally sold. After the unsold, unstaged homes were staged, they sold on average in 41 days. Homes that were staged prior to being listed for sale, sold on average in 23 days:
Staging Study: # of Days on Market
NOT STAGED at LISTING
Average 184 days on market
STAGED AFTER NOT SELLING
Average 41 days to sale
STAGED BEFORE LISTING
Average 23 days to sale
Home staging can save on holding costs and can also impact a buyer's offer price. More than 80% of buyer's agents say effective staging makes it easier for prospective buyers to envision the property as a future home.
