Selling a home is expensive, too: Homeowners typically spend nearly $55,000, report finds

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Buying a home and maintaining it is expensive, but selling it is costly, too, according to a new report.

It typically costs $54,616 to sell a house in 2024, according to a June 17 report from Clever Real Estate. Almost half of surveyed home sellers, or 42%, said their costs to sell were higher than expected, the report found.

“When people think about selling their home, they’re thinking about how much money they’re going to make from their home sale, and not how much they’re going to spend,” said Jaime Dunaway-Seale, data writer at Clever Real Estate.

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“That cost does end up being very high and then they’re caught off guard and disappointed because that’s going to take a cut out of their profit,” Dunaway-Seale said.

In May, Clever Real Estate polled 1,014 Americans who sold a home between 2022 and 2024 about their attitudes related to the home-selling process. It also conducted an analysis of seller costs based on median real estate prices in May.

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About 39% of the total cost — $21,603 — is spent on real estate agent commissions, according to the report.

However, as a landmark case involving real estate agent commission fees will soon take effect, sellers will no longer be required to pick up the entire tab. If a seller decides not to pay the buyer’s real estate agent’s commission, it could “drop their cost by about $10,000,” Dunaway-Seale said.

www.cnbc.com/2024/06/27/how-much-it-costs-to-sell-a-home.html?utm_source=pocket-newtab-en-us

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