Tuesday, August 30, 2011

THE NUMBERS TELL THE STORY

If you're a builder or developer and considering whether or not staging is worth the investment, take a look at these numbers.

Johnson County TX  May 2011 Home Stats from NTREIS

Inventory of Homes for Sale: 875

Months Supply of Inventory: 8

Average Sales Price: -10.11% from 2010

Average days on market: 126

Model home on market BEFORE staging: 365+ days

A local developer contacted us to help get their inventory of 6 model spec homes sold and off their books. These homes had been sitting - unsold -  for over a year.

Hampton Redesign worked within the developers budget by utilizing some existing model home furniture in their storage facility and staging only the main living areas and the master bedroom.

As there were 6 properties to sell before the next phase could be started, we recommended furnishings and accessories be purchased. Although the upfront cost is a little higher than renting, this gives a builder or developer the option to maximize their investment. Once the initially staged property sells, all furnishings can be moved to the next and so on. Since the furnishings become the property of the developer, they can either sell with the property as a value add or re-use to stage other homes.

This model home, once it was staged, sold and closed within 30 days (or less than a quarter of the average days on market in Johnson County).
Dining Room - After Staging
Kitchen - After Staging
Living Room - After Staging
Bedroom - After Staging

Model home on market AFTER staging: 30 days

Buyers are looking for move in ready. Staging a new home helps buyers focus on the NEW and not the HOW of living in an empty space.