Selling a house in New York can be expensive. Between repairs, realtor commissions, closing costs, moving fees, and more, your total expenses can easily eat up 11.44% or more of your home’s final sale price.
While you may not be able to avoid some costs completely, there is one way to save big when you sell in New York.
Clever Real Estate can help you save thousands on realtor fees. With Clever, you'll work with a full-service agent from a top brokerage, but pay only 1% or $3,000 to list your home. For a typical home in New York, that could save you $6,582 and reduce your cost to sell by over 14%!
Average cost to sell a house in New York
Your total out-of-pocket costs will vary based on your situation, but you should expect for around 11.44% of your home’s final sale price to go towards selling costs. If you sell your home for $408,833 — the median home value in New York — you'll likely spend $46,787.
Here's how much you can expect to pay at different price points based on the average cost to sell a house in New York.
Cost to sell
Common expenses for home sellers in New York
The chart below breaks down some of the most common expenses for home sellers in New York.
Keep in mind these costs are highly variable — particularly the home prep and relocation expenses. Talk to your realtor for a more accurate and tailored estimate of your costs.
While repairs, closings costs, and relocation expenses may be out of your control, you can still save money on realtor fees by either selling for sale by owner (FSBO) or hiring a discount real estate broker.
How much will I make selling my New York house?
How much money you pocket after selling your house will depend on several factors, including:
- How you choose to sell your home (realtor, cash buyer, for sale by owner, etc.)
- Which repairs and improvements you do to prep your home for sale
- Whether you make any concessions or offer incentives to buyers
- State and local taxes and closing costs
- Your remaining mortgage balance
If you don't have a mortgage, you'll get the entire sale price minus the costs of selling your home. That means you could take home $362,046 if you sell your home for $408,833 and pay 11.44% to sell it.
But you may owe money on the property or have other unique expenses that impact your overall cost to sell.
Cost of selling a house calculator
Use this cost of selling a house 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 York: An in-depth breakdown
Preparing your home for sale: Varies
At minimum, you’ll want to invest in some basic pre-listing improvements to maximize your home value. The table below breaks down some of the most common professional pre-listing expenses. And even if you decide to go the DIY route, remember to budget a few hundred dollars for supplies.
Home prep expense
Average project cost
$97 per hour
» LEARN MORE: What home improvements to make before selling
Realtor fees in New York: 4.97%
Realtor fees in New York
% of sale price
Buyer’s agent commission
Realtor fees are one of the biggest costs for selling a house in New York. In a standard real estate transaction — one involving two traditional, full-price agents — you will likely be on the hook for covering the full commission fee for both agents.
The average real estate commission in New York is between 3.57% and 6.37% of the home’s final selling price and is typically split between the two agents handling the sale.
Based on the median home value in New York, that comes to roughly $20,319.
Closing costs: 3.26%
Common closing costs in New York
Typical % of sale price
Title insurance (owner's policy)
Title insurance (lender's policy)
Typically paid by buyer
Title service fees
Attorney fees (required)
$361 per hour
Closing costs are a blanket term for the various fees and expenses (not including realtor commission) paid at the close of a real estate transaction.
Expect to pay roughly 3.26% of your home’s final sale price at closing. Based on the average home value in New York of $408,833, that translates to $13,316.
Depending on your circumstances, you might be able to negotiate for the buyer to pay some of them. However, it's just as common for buyers to ask sellers to pay their closing costs to seal the deal.
Moving expenses: ~1%
Depending on factors like the distance of your move, how much you want to DIY, and how much stuff you have, these expenses can really add up.
Moreover, don’t forget to account for potential overlap periods. If there’s a gap between when you move out of your current home and close on your new one, you may need to pay for a storage space and/or temporary housing. Or you may have to pay carrying costs (e.g., utilities, HOA fees, property taxes, etc.) on two properties at once.
How to avoid losing money on your New York home sale
Whether you’re selling a vacation home in the Catskills, a luxury condo in downtown Manhattan, or an investment rental in Buffalo, these tips will help you maximize the profits of your New York home sale!
1. List with a low commission real estate agent
Realtor commission fees are a huge expense for New York home sellers, often making up a large portion of your total selling costs. Thankfully, finding a way to save on commission is one of the best ways to make more money when you sell your home!
You can negotiate commission rates on your own, but the easiest option is to find a low commission real estate agent through an agent-matching company like Clever.
» LEARN MORE: Ways to save money when selling your house
2. Negotiate like a pro
Negotiating is a delicate balance between getting as much money as you can for your home and keeping the buyer happy and interested.
Buyers may request you pay for repairs, closing costs, or a home warranty. These fees can add up quickly and eat into your profits if you're not careful.
3. Time your sale to get top dollar for your New York home
If you're selling a home in New York, try selling sometime from late spring to early summer. Based on historical data, May is when listing prices typically peak, with values about 8% more than usual. Meanwhile, June is when homes sell quickly, with turnaround times almost two weeks faster than in other months.
This trend can be attributed to the end of the school year, as this is when families have more time to attend open houses and shop for a new home. Besides that, many want to be settled in before school starts again, which is why the market becomes increasingly active in June.
If you plan on jumping into the market, market your home aggressively and highlight nearby school districts. These may give you an edge over competitors, especially in an active market. However, take care not to drag your listing into July, as listing prices are historically at their lowest during this month.
Take note that each area’s market is unique and may have different trends, so consider consulting with a local agent before listing. They can give you the best advice for your unique situation and help you get the most profit possible.
Our data on the costs to sell a home are compiled from the following sources:
- Home values (Zillow, August 31, 2022)
- Average real estate commissions (Clever Real Estate, survey of 630 agents)
- Service costs like attorney fees, photography, movers, title insurance, etc. were compiled from over 8,500 professional service quotes
- Tax rates are based on publicly available information
FAQs about costs to sell in New York
Realtor fees will be your biggest selling expense in New York making up 43% of your total selling costs! Paying less in realtor commissions is the best way to save money when you sell your home. You could try to sell your home without a realtor, but you take on a lot more risk. Your best option is to work with a low commission realtor who will give you the same level of service as a traditional agent for a fraction of the cost. Find the best low commission companies here
You should expect to pay about 3.26% of your home's final sale price in closing costs, plus 4.97% in realtor fees when you sell a house in New York. However, your actual closing costs will vary depending on your situation and working with a local realtor can help you better estimate your costs.