The Real Estate Staging Association® (RESA®) study shows 63 homeowners had their property on the
market on average 143 days before they decided to stage (143 days = 5 months!)
Those same homes were staged and sold in 40 days on average after staging. This is 72% less time on the market.
As an example, using this formula you can determine approximately how much money you will continue to spend while your home is on the market un-staged.
If your mortgage is: $1800.00
If your expenses are: $ 300.00
Total carrying cost per month: $2100.00
Our study shows home owners had their property on the market for an average of 4.7 months. Since you can’t pay half a months mortgage we will round this up to 5 months – $2100.00 x 5 months = $10,500.00 in expenses.
We studied 481 homes that were staged before they went on the market and those homes sold on average in 23 days. Had these homeowners staged their home first, their time on the market would have been cut by 120 days on average (4 months) – $2100.00 x 4 months = $8400.00
Staging their homes first would have saved them $8400.00!!!
These numbers are all relative to individual mortgage and expenses. Use this simple formula to determine how much you will save by staging your home or listing before putting it on the market:
Mortgage + expenses (utilities, etc..) = Monthly expenses
Monthly expenses x 5 months (avg. time on market un-staged) = Cost to list house un-staged
Savings: Expenses x 4 months (average time on market reduced) – staging fee = Saving if you stage your house first!