According to our data, selling a home in New Jersey costs 5.5-8.8% of the final sale price.
To give you the most accurate home-selling cost estimates possible, we polled real estate agents and collected data from title companies across New Jersey. Below, we cover everything you need to know about home selling costs.
Table of Contents
- Average Cost to Sell a Home in New Jersey
- Preparing to Sell
- Real Estate Commission
- Seller Closing Costs
Average Cost to Sell a Home in New Jersey
In New Jersey, the average cost to sell a home is 5.5-8.8% of the final sale price. This estimate includes the costs that home sellers will most often face: home preparation, realtor commission, and seller closing costs.
NOTE: To accurately estimate what your net earnings will be when you sell your home, you’ll need to account for the amount you owe on your home loan.
For a home in New Jersey that sells for $358k — the average home value in the state — this amounts to $20k-32k.
| Costs | % of sale price |
| Realtor commission | 5.0-5.8% |
| Seller closing costs | 0.5-3.0% |
| Preparing to sell | Varies* |
* Home preparation costs can vary greatly depending on your home and it’s condition: some will need major repairs before being listed, while others are better off being sold as is.
Preparing to Sell in New Jersey
The amount that you’ll spend to get your home ready to sell will depend on your home’s condition. Newer homes that are in good condition won’t need much prepwork at all and may be ready to list just the way they are. Other homes will require more time or money to get them ready for the market.
Is it Worth Upgrading Your Home Before You Sell?
Upgrading your home before you sell might not be worth it. The cost of the upgrades might be greater than the value it adds to your home.
Before you commit to any major home improvement projects, it’s best to consult your real estate agent — or some other local real estate expert — to get a sense of which projects you should consider and which aren’t worth the investment.
One 2020 report from Remodeling.com found that only one upgrade — replacing your garage door — recouped value greater than its cost:
| Highest value home upgrades (cost) | Return on investment (ROI) |
| Garage Door Replacement ($3,791) | 106.3% |
| Manufactured Stone Veneer ($9,589) | 89.9% |
| Siding Replacement – Fiber-Cement ($17,497) | 85.5% |
| Minor Kitchen Remodel – Midrange ($24,049) | 79.7% |
| Deck Addition – Wood ($14,491) | 77.4% |
Source: Remodeling 2020 Cost vs. Value Report
What Should I Fix Before I Sell My Home?
Major issues with your home — such as roof, electrical system, plumbing, or foundation problems — that may cause your sale to fall through are usually worth fixing.
It’s often difficult to sell a home in need of major repairs because there are fewer buyers interested in homes like these. Not everyone is looking for a fixer upper!
NOTE: In New Jersey, home sellers are not required to provide buyers with a property condition disclosure where they’d list all of the known property issues and defects. In many states, these documents are required.
If you don’t have the time or funds to deal with organizing repairs, the other option is to list your home as-is. This will indicate to potential buyers that what they see is what they get, and you won’t handle any repair requests.
Real Estate Commission in New Jersey
In New Jersey, the average real estate commission rate is 5.0-5.8%, according to our research. That said, you should know that real estate commissions are negotiable, and your rates could be lower (or higher) depending on what you work out with your agent.
The largest single cost associated with selling a home in New Jersey is realtor commission. For homes sold for a price of $357,546 — the average in New Jersey — the cost of commission according to our data would come to $17,877-20,738. Here’s how commission costs break down for a variety of price points:
| Sale price | Realtor commission cost |
| $300,000 | $15,000-17,400 |
| $400,000 | $20,000-23,200 |
| $500,000 | $25,000-29,000 |
| $600,000 | $30,000-34,800 |
Home sellers looking to save on commission should be aware that there are alternate options to paying a traditional real estate commission. They could choose to sell with a discount real estate broker or flat-fee listing service. Additionally, home sellers with more real estate experience may want to consider selling “for sale by owner.”
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Seller Closing Costs in New Jersey
Closing costs for home sellers in New Jersey can range from 0.5-3.0%, according to our research.
These closing costs are an assortment of taxes and fees charged when home sales are finalized. Both buyers and sellers have closing costs that they are responsible for paying, but who pays for what is 100% negotiable.
The good news for New Jersey home sellers is that it is customary for buyers to cover a lot of the closing costs in the state, such as owner’s and lender’s title insurance, title search costs, and recording fees.
Below, we cover the most important closing costs for some sellers to know about when selling in New Jersey.
Realty Transfer Fees: 0.5-1.0%
Realty transfer fees are taxes charged by the state of New Jersey whenever a real estate deed changes hands.
Calculating realty transfer fees in New Jersey can be a bit tricky as there are different rate schedules depending on how much your home sells for. For a home that sells for $358k, the fee would be around $3k. For a precise estimate of these fees, we recommend that you use the New Jersey REALTORS® calculator.
Below, we’ve provided New Jersey realty transfer fee rates for a variety of home prices:
| Home Sale Price | Transfer tax fee |
| $100,000 | $580 |
| $300,000 | $2,255 |
| $500,000 | $4,175 |
| $700,000 | $6,245 |
| $1,000,000 | $9,575 |
Source: NJ Treasury Division of Taxation
NOTE: For homes that sell for more than $1,000,000, there is an additional tax — called the mansion tax — that is equal to 1% of the sale value. This tax is paid by the home buyer.
Title Closing Fee: Up to $250
The entity that conducts your closing charges a title closing fee for their services. In North Jersey, the closing entity is often a real estate attorney while in South Jersey, closings are typically conducted by title companies.
The title closing fee is around $300-500 and is split between the buyer and seller. In North Jersey, however, it is more customary for the buyer to cover the entire cost.
Seller Concessions: Varies
In addition to the costs outlined above, the other major expenses that sellers should be aware of when selling are sellers concessions. There are a number of costs that fit into the category of seller concessions, but they generally include anything that the seller gives the buyer to close the deal.
Most commonly, seller concessions come in the form of seller credits towards the buyer’s closing costs — 2-3% of the home’s sale price is common — or home warranty policies. However, they can also include compromises that don’t hold monetary value, such as an agreement to close on a date that’s preferable to the buyer.
Methodology
Home selling prices provided are meant to give prospective home sellers a ballpark figure of their costs. We utilized the following datasets to provide the analysis in this article:
- Home values – Zillow Home Value data collected in October 2020.
- Realtor commission – From our survey of New Jersey real estate agents.
- Seller closing costs – From our dataset of hundreds of pricing quotes from major title companies in New Jersey.
Sellers Can Save Thousands With Clever
Our friends at Clever Real Estate negotiate with top-performing agents so you don’t have to. Start saving thousands today.
Recommended Reading
Realtor Fees: Your Questions, Answered: Realtor fees are a huge factor when you go to sell your home. But what do sellers actually receive for that high price tag? Who pays real estate fees? And is there any way to avoid real estate fees? In this guide we cover these questions, and many others.
Seller Closing Costs: Here’s Everything You Need to Know: In this comprehensive guide, we cover everything you need to know about closing costs when you sell your home, including who pays what, typical rates, and some tips for reducing these fees.
What Companies Offer the Lowest Real Estate Commission Fees?: The standard real estate commission is 5-6% of the final sale price, which is a lot of money to pay no matter how you slice it. Many sellers don’t realize they can reduce the amount of commission they pay, sometimes by 50% or more!
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