Average Cost to Sell a House in New Jersey

Alex Long

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Alex Long

September 1st, 2022
Updated September 1st, 2022

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Find out the average cost of selling a house in New Jersey

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Seeing your home rise in value the past few years may have you wondering how much it costs to sell your New Jersey home.

The answer can vary quite a bit depending on your circumstances, but the average home seller in New Jersey spends about 11.29% of their sale price on selling costs.

Many of the costs to sell your home aren't negotiable, but the best way to save money when selling is to pay less for realtor commissions.

An agent matching service like Clever Real Estate can help you save big on realtor fees. With Clever, you'll work with a full-service agent from a top broker, but pay only 1% or $3,000 to list your home. That could save you $7,685 if you sold your New Jersey home for $471,472, which is the state average value.

💰 Compare hand-picked agents, sell for 1%

Find top-rated agents from local brokerages, and get pre-negotiated listing fees of just 1%.

Clever's service is 100% free, with zero obligation. Interview as many agents as you like until you find the perfect fit — or walk away at any time.

Average cost to sell a house in New Jersey

The average home seller in New Jersey spends about 11.29% of the sale price — or $53,232 for a median-priced home worth $471,472.

If you want to know how much it costs to sell your house, check out our home sale calculator below.

Common expenses for home sellers in New Jersey

See our chart below for some of the more common expenses you'll encounter when selling your home.

These expenses are variable depending on the state of your local market, the condition of your home, and what kind of buyers you're looking to attract. Talk to your realtor for more specific guidance on which expenses best suit your needs.

Common expenses
Estimated cost*
$200 to $8,409
🏘️ Realtor fees
$20,556 to $27,770
$6,210 to $17,714
$575 to $4,997
Total
$27,541 to $58,891
*Based on a $471,472 home — a typical home value in New Jersey, (Zillow Research data, August 31, 2022)

Moving fees and closing costs may be out of your control, but you can still save a significant chunk of money by lowering your realtor fees — either by selling for sale by owner (FSBO) or working with a discount broker.

Your best option is to work with a company like Clever that negotiates lower commissions with full service, local agents on your behalf. That way you can save money while getting the same level of service as someone who pays full price!

How much will I make selling my New Jersey house?

If you're asking yourself how much you'll walk away with if you sell your house, the answer is: it depends.

The biggest impact on your home sale proceeds is the sale price and your mortgage balance, but you also have to account for closing costs, taxes, repairs, and more.

If you don't have a mortgage, you'll get the entire sale price minus the cost of selling your home. On average, selling costs are 11.29% of the total cost. So, you could take home $418,240 if you sell your house for the state median home value of $471,472.

But you may owe money on the property — the average New Jersey homeowner owes around $241,772! If you do, your remaining mortgage balance will come out of your proceeds, cutting into the amount that will land in your bank account.

» MORE: See what other factors affect your home sale profit

Cost of selling a house calculator

Use this home sale calculator to get a better idea of how much you'll have to spend to sell your home — and how much you'll take home after!

Home selling costs in New Jersey: An in-depth breakdown

🚨 Disclaimer: We’ve compiled an overview of some of the most common home selling costs in New Jersey. This guide is not 100% comprehensive, and actual costs will vary from one house to another. Talk to your real estate agent and lender for the most accurate sense of how much it will cost to sell your home.

Preparing your home for sale

Unless you’re planning to sell your New Jersey house “as-is” or to an iBuyer, you’ll need to spend some money to get your home market-ready to attract qualified buyers. If a cash offer sounds more appealing to you, or you just want to see what your options are, fill out the form below to compare offers from top cash buyers.

Selling your home traditionally requires getting it cleaned up and putting your best foot forward to entice buyers. If you're in a competitive market and your house is in good shape, this could mean just giving it a deep cleaning and clearing out clutter.

In markets that favor buyers or with houses that need more work, you may have to spend a bit more time and money getting your house in the best shape possible to get strong offers.

Your realtor will be your best resource for deciding what steps you should take to get the best return on your investment when prepping your house for sale.

» MORE: Specific costs of prepping your home

🌟Ask an expert

Generally, I encourage my clients to get a professional cleaning, a pre-listing inspection, and repair any minor issues before listing.

In a seller's market, I recommend selling "as is" or with minor improvements. Most buyers want a blank canvas so they can do their own improvements. If you have a really dated kitchen, that may be one area worth updating, but I suggest sellers proceed cautiously with major renovations. You could miss your market if you wait too long to sell while making improvements.

  • Matthew Tully, RE/MAX, Manalapan, NJ

Realtor fees in New Jersey

One of the largest fees sellers need to account for is realtor commissions. In a standard real estate transaction — one involving two traditional, full-price agents — you'll likely be on the hook for covering the full commission fee for both agents.

Realtor fees in New Jersey
% of sale price
Cost*
Listing fee
2.63%
$12,400
Buyer's agent fee
2.50%
$11,787
Total
5.13%
$24,187
*Based on a $471,472 home — a typical home value in New Jersey, (Zillow Research data, August 31, 2022)

» LEARN: How realtor commission is split in a home sale

On average, paying full commission to sell your house in New Jersey costs about $24,187 — that could be more than half of your total home selling expenses!

But you don't have to pay that much. Clever negotiates discounts with top listing agents that can save you thousands of dollars when you sell your home.

💰 Clever pre-negotiates low commission rates for you!

List with the best agents in your area for just $3,000 or 1%:

  • Sell with a full-service agent from a top brokerage
  • No upfront fees — you only pay when your home sells
  • Our agent matching service is 100% free with zero obligation

Closing costs

Closing costs are a blanket term for the various fees and expenses both buyers and sellers pay at the close of a real estate transaction. Closing costs don't include realtor commissions.

Common closing costs in New Jersey
Typical % of sale price
Estimated total*
Title insurance (owner's policy)
0.32%
$1,519
Title insurance (lender's policy)
N/A
Typically paid by buyer
Transfer tax
0.85%
$4,008
Title fees
0.14%
$653
Recording fee
0.00%
$5
Buyer incentives
2%
$9,429
Total
3.32%
$15,639
*Based on a $471,472 home — a typical home value in New Jersey, (Zillow Research data, August 31, 2022)

If you're in a seller's market or have multiple competing offers, you may be able to negotiate the buyer paying for closing costs, but don't assume this will always be the case.

Sellers have benefited from a strong seller's market lately, which has allowed them to list "as is" and still get multiple high offers. However, if the market shifts to favoring buyers, you may need to consider offering incentives or making concessions. This could mean chipping in for closing costs, offering repair credits, or paying for a home warranty.

» MORE: How much are seller closing costs in New Jersey?

🌟Ask an expert

My biggest piece of advice for sellers in our current market is to be patient and take your agent's advice on pricing. The market is not as booming as it was in recent years, but you can still sell your house for a good price in a reasonable time frame if you approach your sale correctly — don't get discouraged.

  • Matthew Tully, RE/MAX, Manalapan, NJ

Moving expenses

When you sell your home, you'll probably incur some moving expenses. These can range quite a bit depending on the distance and how much you want to do yourself.

In New Jersey, the average cost to move locally is $575, or $4,997 for 1,000 miles or more — which accounts for packing supplies, movers, and carrying costs.

If you need to store your belongings, you'll also need to account for storage costs. Keep in mind that you will also need to move your belongings twice, which will add to the overall cost.

» MORE: See how much the average seller spends on moving expenses

How to avoid losing money on your New Jersey home sale

Whether you’re selling a single family home in Princeton, a condo in downtown Trenton, or a duplex in Paterson, these tips will help you maximize your profits from your New Jersey home sale!

1. List with a low commission real estate agent

Besides paying off an existing mortgage, real estate commissions are usually the largest single expense when selling your home. Fortunately, Clever can help you keep the average costs to sell a house low without sacrificing quality of service.

Clever matches you with local full-service agents from well-known brokerages like RE/MAX, Keller Williams, and Century 21. But, instead of paying the typical 2.63% listing fee, you'll only pay 1% or $3,000 (for homes under $350,000)! On average, sellers save over $7,685 on realtor fees!

With Clever, you can compare multiple New Jersey agents to find the one that best fits your needs. Even better, finding an agent through Clever won't cost you a dime, and there's no obligation to move forward until you find the perfect agent.

Work with a full service agent for only 1% or $3,000!

Clever negotiates discounted listing fees with top agents to help you save money when selling your home!

2. Time your sale to get top dollar for your New Jersey home

The best month to sell a home in New Jersey is July. Homes sold during that time sell 14 days faster than the annual average and for about $22,000 more.

» MORE: When is the best time to sell a house in New Jersey?

However, sellers can have a successful sale even outside the busiest months!

We recommend working with a top local agent who knows the area and trends in the market. They can help you implement a strategy that attracts the highest offers in the shortest amount of time.

3. Negotiate like a pro

The trick to negotiating is to get yourself the best deal possible while still retaining the buyer's interest.

Some buyers may ask for you to make certain repairs, pay for closing costs, or offer a home warranty. These items can add up and take a significant chunk out of your profits, but that doesn't mean you should consider them.

Working with a top-rated local agent will help you negotiate terms that are acceptable to both you and the buyer so that you can get the best deal possible.

» MORE: Negotiate so both the seller and buyer get something they want

If you can't get out of paying for repairs, we recommend checking out HomeAdvisor. You can connect with top local professionals and compare quotes to get the best possible price.

4. Save on repairs and upgrades

If you're updating your kitchen, you can lower the cost of new appliances for your property by using companies like Whirlpool. If you buy two or more full-priced items you could get 10% off your purchase.

You can also cut down on labor costs by using services like TaskRabbit. Whether it be cleaning, landscaping, installing appliances, or moving, TaskRabbit can connect you with people in your area who will help for less than a full-time professional would charge.

FAQs about costs to sell in New Jersey

Closing costs in New Jersey are usually about 3.32% of the sale price, or $15,639, on average. That said, this doesn't include realtor commissions, which make up the largest portion of your expenses and run about 5.13% of your sale price.

The average home seller in New Jersey spends about $53,232, or 11.29% of the sale price. This can vary widely depending on the state of the market and condition of your home, but working with an agent who offers a discounted rate will be a great help in keeping this cost down.

In 2021, the average New Jersey home seller made about $418,240 on their home sale before paying off their existing mortgage, if they had one. For a more specific idea of what you can expect to walk away with, check out our home sale proceeds calculator.

Additional resources for New Jersey home sellers

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