Home-Selling Costs | Commission Costs | Renovation Costs | Closing Costs | The Cost of Concessions | Other Home-Selling Costs | Home Sale Profit | Priorities vs. Compromises | Home Seller Regrets | Home-Selling Strategies
💸 How much does it cost to sell a home? 💸
In 2024, the typical homeowner spends about $54,616 to sell their home, with 42% saying the cost was higher than expected.
When their homes hit the market, most sellers are so preoccupied with how much they hope to earn, they forget selling a home costs money, too — and quite a lot.
Americans report spending nearly $55,000 on home-selling expenses — an amount that surprised 64% of sellers, according to a recent survey from Clever Real Estate.
With high home-selling costs eating away at profits that are much slimmer than they were a few years ago, 89% of recent sellers have regrets about their sale.
To learn more about how finances impact Americans' home-selling decisions, we surveyed 1,000 people who have sold a home since 2022. Despite a less favorable market, we found that sellers still think they could have made a hefty profit, if only they had taken a few cost-cutting measures.
Had they known the true cost of selling their home, 89% would have made different decisions. With a different approach, sellers think they could have sold their home for $50,000 more than they actually did.
Keep reading to learn more about the true cost of selling a home in a market that is shifting power back toward buyers.
🏡 Cost to Sell a Home Statistics
- The cost of selling a home totals about $54,616, including real estate agent commission, repairs, closing costs, and other miscellaneous expenses.
- About 42% of sellers say the cost of selling their home was higher than expected.
- Among sellers who did not hire an agent, 59% did so to save money. Sellers who used an agent, however, sold their home for about $34,000 more than those who did not.
- When preparing their home for sale, 80% of sellers followed their agent's advice, but 67% say the recommendations cost more than they felt comfortable spending.
- About 89% of sellers have regrets about their sale. The most common regrets include selling too quickly (30%), missing their old home (29%), and not selling for enough money (28%).
- Another 89% of sellers had to compromise on their priorities.
- The most-compromised priority was selling above asking price. One-third of sellers (33%) said it was a priority, but of those, 13% had to settle for asking price or below.
- 2024 sellers were 87% more likely to sell below asking price than sellers in 2022.
- About 64% of sellers made money on their sale, with the median amount of profit totaling $100,000.
- More than half of sellers (58%) had to reduce their asking price, and one-third (34%) were not satisfied with the final sale price of their home.
- If they had known the true cost of selling their home, 89% of sellers would have made different decisions.
- With a different approach, sellers think they could have sold their home for $50,000 more than they actually did.
Homeowners Spent Nearly $55,000 on Home-Selling Expenses
Buying a home is expensive, but the cost of selling one is also steep. Homeowners have spent a median amount of $54,616 to sell their home since 2022.
The cost of selling a home can depend on a variety of factors, but in general, homeowners spend the following amount on these expenses:
- Listing agent commission on the median-priced home: $11,136
- Buyer's agent commission on the median-priced home: $10,467
- Pre- and post-listing repairs, improvements, and renovations: $10,000
- Closing costs: $8,000
- Concessions to the buyer: $7,200
- Moving costs: $3,250
- Marketing: $2,300
- Staging: $2,263
Many sellers are surprised to discover that what they expect to spend on their home sale doesn't match reality. About 42% of sellers say the cost of selling their home was higher than expected.
Commission Costs: Home Sellers Spent Nearly $22,000 on Realtor Fees
The single biggest expense for home sellers is typically real estate agent commission.
Under the current commission model, sellers are responsible for paying about 5% to 6% of the final home sale price — split evenly between the buyer's and seller's agents. On the median-priced home, that can add up to $21,600.
With the high cost of commission eating away at potential profit, 1 in 5 sellers (21%) say they regret how much they paid their agent.
This is especially true among sellers who don't believe their agent delivered any valuable service. Half of sellers (50%) say their agent failed them. Specifically:
- 57% say their agent's advice let them down
- 53% say their agent made mistakes with their listing
- 50% say their agent didn't communicate enough
60% of Unrepresented Home Sellers Wanted to Save Money on Commission
To avoid high commission costs, some sellers chose to forgo a real estate agent altogether.
Although 59% of unrepresented sellers say they chose not to use an agent to save money, the hassle of selling a home without professional help may not be worth the savings. Sellers who did not hire an agent saved only $4,200 compared to those who did.
Unrepresented sellers may have saved slightly on their overall home-selling expenses, but they missed out on even bigger returns by not working with an agent. Sellers who hired an agent made $34,000 more in profit than those who did not hire an agent.
The good news for home sellers is that upcoming changes to the commission model will likely make paying for an agent's expertise more affordable.
In August, sellers will no longer be required to pay the buyer's agent commission as a result of a lawsuit against the National Association of Realtors. That will reduce home-selling costs by about $10,500 and cause the overall expense to drop from $54,616 to $44,116.
Besides the monetary savings, homeowners also sold without an agent because:
- They thought it would be more convenient (58%)
- They thought it would be faster (57%)
- They wanted to handle their own showings and negotiations (57%)
Selling a home without an agent is possible, but it can make an already complicated process even more difficult. About 46% of unrepresented sellers say they made legal mistakes during their sale, and 43% said buyers didn't trust them.
In the end, 54% of unrepresented sellers regret not using an agent.
Repair Costs: Sellers Spent $10,000 on Home Improvements
Today's home buyers don't want to inherit properties in need of costly renovations that hamper affordability in an already expensive market.
To attract the best buyers and hasten their sale, 76% of sellers invested in repairs and updates to their home. Of those:
- 32% made repairs before listing
- 28% made repairs before listing and after negotiating with the buyer
- 16% made repairs after negotiating with the buyer
The cost of pre- and post-listing repairs totaled about $10,000.
Approximately 80% of sellers followed their agent's advice when preparing their home for sale, but 67% say the suggestions cost more than they felt comfortable spending. However, 68% of sellers think their agent's recommendations paid for themselves, and 65% think they resulted in a higher sale price.
A significant portion of renovation costs can be recouped in the form of increased property values, but it depends on the project. Upgrades with the highest return on investment include a new HVAC, a new garage door, and manufactured stone veneer, but sellers were most likely to repair or improve their:
- Plumbing (35%)
- Kitchen (31%)
- Electrical system (31%)
- Painting or staining (29%)
- Roof (28%)
Closing Fees Cost Sellers $8,000
Like most goods and services in an inflationary environment, closing costs are also rising — adding to sellers' financial burden.
In 2022, sellers spent a median amount of $6,000 on closing costs, which include title insurance, a credit check, document prep, and other fees necessary to complete the sale. Just two years later, our respondents report paying $8,000 on closing costs.
With 1 in 5 sellers (21%) regretting that closing costs are too high, the federal government is taking a closer look at what it calls overpriced "junk fees" that hinder housing affordability.
» Learn how much sellers from each state pay in closing costs
Concession Costs: Sellers Paid $7,200 in Buyer Concessions
As high home prices and interest rates make buyers more cautious, sellers are no longer profiting from concession-free transactions like they were in the pandemic-era market.
With demand for housing slowing, sellers many sellers try to lure buyers back into the market with incentives. In fact, 89% of sellers made concessions to the buyer.
Sellers were most likely to attract buyers by:
- Reducing their price (32%)
- Offering a home warranty (32%)
- Letting the buyer keep their personal property (31%)
- Making repairs (29%)
- Offering a flexible closing date (29%)
Although some concessions require a sacrifice of only time and convenience, others have a real monetary cost. Sellers paid a median amount of $7,200 in concessions to the buyer.
For homeowners who want to reduce stress by minimizing how much time their house sits on the market, concessions may be worth the cost. But 1 in 4 sellers (26%) regret making too many concessions with the buyer.
With sellers giving out concessions and collecting less profit in return, another 26% of sellers say they would offer fewer concessions if they sold their home again.
Marketing and Moving Expenses Cost Sellers Nearly $8,000
Homeowners anticipate paying some home-selling costs, such as closing fees and agent commission, but there are a variety of smaller expenses they should factor in to their budget, as well.
With homeowners wanting to sell quickly, a majority are willing to splurge for services that will help them achieve their goal. About 56% of sellers hired a professional to photograph their home, and 54% hired a professional to stage their home.
Sellers spent a median amount of $2,300 to market their home and $2,263 to stage their home — for a total of $4,563. Although that's a big additional expense, it can raise the perceived value of a home and attract more qualified buyers.
Even after finding a buyer and closing, the expenses don't stop there. Most sellers must pay to relocate, which costs a median amount of $3,250.
Sellers Are Nearly 2x More Likely to Sell Below Asking Price in 2024
Despite the high cost of selling a home, property values tend to rise over time and help ensure a majority of sellers make a substantial return. Nearly two-thirds of sellers (64%) made a profit, with respondents earning a median amount of $100,000 on their home.
Although a majority of sellers made money on their sale, 58% had to slash their asking price. Even with a reduced asking price, some sellers still sold for less.
Approximately 39% of sellers sold below asking price in 2024 — nearly 2x more than the 21% who sold below asking price in 2022, when buyers had much less power to negotiate.
Meanwhile, the percentage of sellers who sold above asking price dropped from 35% in 2022 to 24% in 2024 as high interest rates limit buyers' budgets and reduce competition that leads to bidding wars.
As the days of desperate dealmaking come to an end, sellers are left to lament their changing fortunes. About 1 in 3 sellers (34%) were not satisfied with the final sale price of their home.
89% of Home Sellers Compromised on Their Priorities
Sellers may still have the advantage in today's real estate market, but it's more narrow than they'd like to admit. In fact, 89% of home sellers had to compromise on their priorities.
Homeowners prioritized the timing of their sale above all else, with 40% saying they wanted to sell on their own timeline and 39% saying they wanted to sell quickly.
But home buyers were no longer willing to make rash decisions to accelerate their sale. Among those who said selling quickly was a priority, about 1 in 8 had to sell on the buyer's timeline (12%) or wait longer than expected to sell their home (13%).
With many sellers hesitant to compromise their top priority, sacrifices had to come elsewhere.
Sellers were most likely to compromise their desire to sell above asking price. Of the 33% who said it was a priority, 13% had to settle for asking price or below.
Nearly 9 in 10 Homeowners Have Regrets About Their Sale
Compromising on their home-selling priorities inevitably led to regret among homeowners. About 89% of sellers have regrets, including 92% who sold without an agent.
Although many homeowners prioritized selling fast, selling too fast was the most common regret — with 30% expressing remorse about the rapid pace of their sale.
Selling a house quickly can be easy and convenient thanks to iBuyers and other companies that buy houses for cash. But with offers well below market value, sellers who forgo a traditional listing could be leaving money on the table.
Overall, 1 in 4 homeowners (28%) regret not selling for enough money.
That disappointment alone led to a host of other regrets — such as failing to make enough pre-listing repairs (26%), making too many concessions (26%), and failing to stage the home (25%) — which could have helped homeowners sell for more money.
Sellers also regret that:
- They miss their old home (29%)
- They sold without a real estate agent (23%)
- Their home sat on the market too long (23%)
- The waited too long to list the home (22%)
- They were pressured to accept an offer (22%)
- Realtor commission was too high (21%)
Just 1 in 9 sellers (11%) have no regrets. Not surprisingly, sellers who had the professional advice of a real estate agent through the home-selling process were 75% more likely than those without an agent to say they did not have regrets.
Nearly 90% of Home Sellers Wish They Made Different Decisions
The cost of selling a home isn't always transparent, and unsuspecting sellers may end up spending much more than they planned.
About 67% of first-time sellers were surprised by the cost of selling their home. But previous home-selling experience does little to prepare homeowners for the expense, either, with 58% of repeat sellers saying they were still surprised by the cost.
Had they known the true cost of selling their home, 89% would have made different decisions. In hindsight, more than 1 in 3 sellers would have:
- Listed their home for a higher amount (36%)
- Waited for more offers (35%)
- Negotiated more with the buyer (32%)
- Waited to sell until home prices increase (31%)
- Negotiated commission with their agent (31%)
Overall, sellers had mixed feelings about how using an agent affected their home sale. While 61% of represented sellers think they could have made more by not using an agent, 58% of unrepresented sellers think they could have made more if they had hired an agent.
In reality, sellers who used an agent sold their home for $34,000 more than those who didn't use an agent.
In the end, more than 1 in 3 sellers (38%) were not satisfied with their home-selling experience, causing many to second-guess their decisions.
Had they approached the process differently, sellers think they could have sold their home for $50,000 more than they actually did.
Seller Closing Costs by State
| State | Seller Closing Costs Range |
|---|---|
| Alabama | $2,424–$9,012 |
| Alaska | $2,648–$12,416 |
| Arizona | $4,322–$15,291 |
| Arkansas | $2,461–$8,599 |
| California | $5,539–$23,682 |
| Colorado | $2,572–$15,805 |
| Connecticut | $7,637–$16,981 |
| Delaware | $11,130–$19,884 |
| Florida | $4,911–$14,758 |
| Georgia | $3,663–$11,120 |
| Hawaii | $4,831–$23,944 |
| Idaho | $4,494–$15,664 |
| Illinois | $2,656–$10,113 |
| Indiana | $1,841–$7,839 |
| Iowa | $1,360–$7,757 |
| Kansas | $2,404–$8,983 |
| Kentucky | $2,209–$7,560 |
| Louisiana | $2,485–$7,329 |
| Maine | $4,324–$14,383 |
| Maryland | $6,412–$16,780 |
| Massachusetts | $6,801–$20,410 |
| Michigan | $5,475–$12,553 |
| Minnesota | $3,502–$12,679 |
| Mississippi | $1,656–$7,245 |
| Missouri | $1,778–$7,944 |
| Montana | $1,133–$12,439 |
| Nebraska | $2,748–$10,023 |
| Nevada | $4,846–$15,255 |
| New Hampshire | $4,043–$16,098 |
| New Jersey | $6,423–$19,051 |
| New Mexico | $2,336–$10,002 |
| New York | $5,386–$16,241 |
| North Carolina | $2,452–$11,151 |
| North Dakota | $2,173–$9,351 |
| Ohio | $2,406–$8,946 |
| Oklahoma | $3,070–$9,194 |
| Oregon | $2,060–$14,136 |
| Pennsylvania | $6,372–$13,229 |
| Rhode Island | $3,553–$15,274 |
| South Carolina | $3,375–$10,337 |
| South Dakota | $3,984–$11,111 |
| Tennessee | $3,434–$11,130 |
| Texas | $4,528–$12,887 |
| Utah | $2,581–$15,032 |
| Vermont | $3,185–$12,048 |
| Virginia | $4,175–$14,293 |
| Washington | $9,786–$24,090 |
| Washington, D.C. | $3,201–$16,978 |
| West Virginia | $2,868–$7,262 |
| Wisconsin | $2,961–$11,019 |
| Wyoming | $2,035–$10,963 |
Based on Zillow home value data as of May 31, 2024.
Methodology
Clever Real Estate surveyed 1,014 Americans who sold a home between 2022 and 2024 regarding their attitudes about the home-selling process and the costs associated with selling their homes The survey was conducted May 2-10, 2024.
About Clever
Since 2017, Clever Real Estate has been on a mission to make selling or buying a home easier and more affordable for everyone. 12 million annual readers rely on Clever's library of educational content and data-driven research to make smarter real estate decisions—and to date, Clever has helped consumers save more than $160 million on realtor fees. Clever's research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more.
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FAQs
What is the average cost to fix up a house to sell?
To attract the best buyers and hasten their sale, 76% of sellers invested in repairs and updates to their home. The cost of pre- and post-listing repairs totaled about $10,000. Learn more.
What is the average cost to fix up a house to sell?
The cost of selling a home totals about $54,616, including real estate agent commission ($21,603), repairs ($10,000), closing costs ($8,000), concessions ($7,200), and other miscellaneous expenses ($7,813). Learn more.