The cost of selling a home comes as a surprise to many owners, especially for the 61% who have never sold one before
The cost of selling a home comes as a surprise to many owners, especially for the 61% who have never sold one before.
That’s one of the findings of a survey from Zillow and Thumbtack which found that the average cost is $18,342 in 2018.
The cost includes at least one home improvement before listing with 78% of sellers doing so. Prepping costs may include professionals (average $4,985) to help with painting, staging, carpet cleaning, lawn care and gardening, and local moving costs.
Agent commissions and transfer or sales taxes amount to an average $13,357 nationally for the seller’s and buyer’s costs. However, among the metros surveyed, sellers of high-priced San Jose homes pay the most to agents at $74,927 on average. Those in Indianapolis pay the least ($8,604) due to lower home values and no state transfer tax.
Read more: Get estimated closing costs when you are buying or selling a home
"Even in the hottest housing markets in the country, selling a home takes time and costs money," says Jeremy Wacksman, Zillow's chief marketing officer. "From decluttering and staging to pre-inspections, agents and homeowners often spend months behind the scenes prepping a home – well before it's listed on the market."
|
Metro Area |
Median Home Value (ZHVI), Jan. 2018 |
Estimated Closing Costs (commissions |
Basic Home Prep Costs (carpet cleaning, |
Total Hidden Costs of Selling |
|
United States |
$ 209,100 |
$ 13,357 |
$ 4,985 |
$ 18,342 |
|
Los Angeles-Long Beach-Anaheim, CA |
$ 640,600 |
$ 39,141 |
$ 5,110 |
$ 44,251 |
|
Chicago, IL |
$ 214,300 |
$ 13,179 |
$ 4,800 |
$ 17,979 |
|
Dallas-Fort Worth, TX |
$ 221,100 |
$ 13,266 |
$ 3,720 |
$ 16,986 |
|
Philadelphia, PA |
$ 225,000 |
$ 16,875 |
$ 4,440 |
$ 21,315 |
|
Houston, TX |
$ 186,900 |
$ 11,214 |
$ 4,690 |
$ 15,904 |
|
Washington, DC |
$ 387,500 |
$ 28,869 |
$ 3,960 |
$ 32,829 |
|
Miami-Fort Lauderdale, FL |
$ 266,600 |
$ 17,862 |
$ 3,860 |
$ 21,722 |
|
Atlanta, GA |
$ 189,100 |
$ 11,535 |
$ 4,380 |
$ 15,915 |
|
Boston, MA |
$ 442,600 |
$ 28,574 |
$ 5,460 |
$ 34,034 |
|
San Francisco, CA |
$ 928,600 |
$ 56,737 |
$ 6,350 |
$ 63,087 |
|
Detroit, MI |
$ 145,000 |
$ 10,005 |
$ 4,350 |
$ 14,355 |
|
Riverside, CA |
$ 345,000 |
$ 21,080 |
$ 5,190 |
$ 26,270 |
|
Phoenix, AZ |
$ 247,900 |
$ 14,874 |
$ 4,940 |
$ 19,814 |
|
Seattle, WA |
$ 476,800 |
$ 37,095 |
$ 6,460 |
$ 43,555 |
|
Minneapolis-St Paul, MN |
$ 251,300 |
$ 15,907 |
$ 4,770 |
$ 20,677 |
|
San Diego, CA |
$ 575,100 |
$ 35,139 |
$ 5,240 |
$ 40,379 |
|
St. Louis, MO |
$ 152,000 |
$ 9,120 |
$ 3,890 |
$ 13,010 |
|
Tampa, FL |
$ 197,500 |
$ 13,233 |
$ 3,840 |
$ 17,073 |
|
Baltimore, MD |
$ 261,400 |
$ 16,991 |
$ 4,150 |
$ 21,141 |
|
Denver, CO |
$ 387,400 |
$ 23,283 |
$ 4,950 |
$ 28,233 |
|
Pittsburgh, PA |
$ 138,700 |
$ 10,403 |
$ 4,140 |
$ 14,543 |
|
Portland, OR |
$ 376,900 |
$ 22,614 |
$ 6,570 |
$ 29,184 |
|
Charlotte, NC |
$ 185,300 |
$ 11,489 |
$ 3,970 |
$ 15,459 |
|
Sacramento, CA |
$ 387,500 |
$ 23,676 |
$ 6,460 |
$ 30,136 |
|
San Antonio, TX |
$ 169,300 |
$ 10,158 |
$ 4,650 |
$ 14,808 |
|
Orlando, FL |
$ 217,600 |
$ 14,579 |
$ 3,820 |
$ 18,399 |
|
Cincinnati, OH |
$ 156,800 |
$ 10,035 |
$ 4,730 |
$ 14,765 |
|
Cleveland, OH |
$ 137,600 |
$ 8,806 |
$ 4,180 |
$ 12,986 |
|
Kansas City, MO |
$ 167,300 |
$ 10,038 |
$ 4,210 |
$ 14,248 |
|
Las Vegas, NV |
$ 251,400 |
$ 16,366 |
$ 4,520 |
$ 20,886 |
|
Columbus, OH |
$ 173,200 |
$ 11,085 |
$ 4,640 |
$ 15,725 |
|
Indianapolis, IN |
$ 143,400 |
$ 8,604 |
$ 4,820 |
$ 13,424 |
|
San Jose, CA |
$ 1,226,300 |
$ 74,927 |
$ 6,580 |
$ 81,507 |
|
Austin, TX |
$ 281,500 |
$ 16,890 |
$ 4,560 |
$ 21,450 |
