In a seller’s market, especially a crazy hot one like 2016, from Toronto to the Niagara Region, in which there are more buyers than sellers, so the supply of houses is less than the demand.
Houses will sell fast in general.
Some home sellers get multiple offers from different buyers at the same time. With competing offers, getting over asking price is normal.
Staging may not be necessary since you probably are going to get what your asking price is even just with one offer.
Without staging, some houses that are high in demand either due to golden location, great neighbourhood and/or beautiful inside and out, still get 1%-10% over the asking price.
Then what’s staging for in this kind of market?
Staging helps sell a house even faster and for more than the asking price in a seller’s market.
However a hot market is still not enough for many houses to gain over the asking price.
They need a boost from staging to bring the best potential out of the properties and beat the similar listings with no staging.
In addition to that, depending on the location, neighbourhood and the condition of the house, there is also a great opportunity in a seller’s market for gaining that extra 10-20% or more over asking price by using staging services, especially for vacant higher end homes.
Such as newly renovated houses, new built homes (above pictures) and custom houses, in a very populated area like Toronto and GTA.
This extra 10%-20%gain is hardly going to happen in a slow market for sellers. Experienced home sellers know when and how to seize the opportunity!