What Is the Cost to Sell a House in Seattle?

What are common expenses for home sellers in Seattle?

Ann Nordling, a top real estate agent from Seattle who works with over 70% more single-family homes than the average area agent, notes the cost to sell a house in Seattle will vary on a case-by-case basis within a changing market.

“With the market in the middle of a shift, it’s become more commonplace that more major repairs might need to happen to the value that the seller is hoping for,” Nording says. In other words, sellers may need to work with their agents on making their house the most attractive it can be to generate the most interest from a broad buyer pool.

Many factors influence the cost of prepping your home for sale. Those factors include the home’s size, age, and level of wear and tear. The following prices are a guide to assist you in preparing to sell your home.

Prepping your house for sale

Prepping your house for sale can cost between $14,284 and $25,194, or 1.5% and 2.7% of your home’s final sale price.

• Depending on the year the home was built, repairs typically run $4,500-$5,400, including but not limited to:
  • Exterior replacement improvements
  • Flooring
  • Insulation
  • Kitchen and bath remodels
  • Room additions
  • Outside attachments
  • Outside property and disaster repairs
• Staging the home: $1,500-$4,000
• Professional cleaning services: $118-$236, depending on the home’s size
• Paint for interior spaces: $6,712-$9,011
• Landscaping work: $1,254-$6,047
• Pre-listing inspection: $200-$500 if desired or needed

Before undertaking any large renovation projects or repairs, consult with your Realtor®. An experienced Seattle real estate agent will know what needs to be fixed and what you can skip.

Realtor fees in Seattle

Agent commissions are among the highest selling costs in a real estate transaction. In Seattle, Realtor fees averaged between 5%-6% before the settlement terms of the National Association of Realtors (NAR) lawsuit are expected to take effect. Based on the median home value of $957,000 in Seattle, you can expect to pay between $47,850 and $57,420 in real estate agent commissions.

If the buyer’s agent and seller’s agent split the commission evenly:

• Listing agent fee: $23,925-$28,710
• Buyer’s agent fee: $23,925-$28,710

This commission scheme will see changes that may lower the commission cost tacked onto your selling expenses. The cost of agent commissions may seem like a lot, but partnering with a proven professional can make a huge difference in your final net proceeds. Our data shows that the top 5% of agents across the U.S. sell homes for as much as 10% more than the average real estate agent.

For illustration, your median price home is $957,000. If you use a top agent, you may sell your home for as much as $95,700 above the asking price, and you net more than $23,000 in additional profit. In that case, a 10% higher selling price can help offset the cost of a Realtor fee. Plus, the journey is easier with a professional guiding you every step.

See how commissions impact total selling costs in our overview example chart later in this story.

Try HomeLight’s Agent Commissions Calculator to get an idea of how much you might pay in Realtor fees in Seattle.

HomeLight’s free Agent Match platform can connect you with a top real estate agent in your market.

Seller concessions

Seller concessions can contribute to the overall cost to sell a house in Seattle. In addition to the direct costs of preparing your home to sell and agent fees, there may be indirect costs that occur during the course of the transaction. These indirect costs may include seller concessions and buyer incentives.

A concession is when a seller agrees to use part of the proceeds from their home sale to cover some, or all, of a buyer’s closing costs. The amount of these costs will depend on your market and selling situation.

Rising interest rates and increased home prices are shifting Seattle’s housing market. “I feel we’re going into more of a normal market and I do think we’re going to see some balancing of home prices,” Nordling says. “The buyer pool is a little smaller because we have people who just got discouraged and can’t afford homes anymore.”

The normal market does not mean that sellers are offering many concessions yet. Nordling advises her clients to pay for inspections to ease the burden on potential buyers, but “[sellers] paying for closing costs, I don’t think we’re there yet. We still get enough interest and activity that’s not having to happen.”

Although sellers don’t have to make concessions to make the sale, maybe you want to make your house stand out from the rest.

If that’s the case, you should at least be aware of common seller concessions or buyer incentives and how these can contribute to the cost to sell a house in Seattle:

• Home inspection fees: $296-$423 depending on square footage
• Buyer’s home warranty: $450-$600
• Repair credit: varies (which reduces your net proceeds)

Closing costs and additional fees

Your closing costs and additional fees may cost $48,231-$62,324, or 5%-6.51% of your home’s final sale price. That’s an average of $55,277, or 5.7%.

So what closing costs do sellers pay in Seattle? It depends, but the total seller costs can add up.

Closing costs are fees associated with a home purchase that buyers and sellers pay at the close of a real estate transaction. The average seller closing cost total in Seattle can fall in a wide range because of variable high-dollar factors such as mortgage loan payoff amounts and prorated taxes. Based on our research, the closing costs can land between $52,885 and $62,324.

Here is how some of the average costs might look:

• Escrow fee: $4,785-$9,570 (1%-2% of total purchase price divided by 2)
• Title insurance premiums: $2,500
• Title search fees: $100-$250
• Tax liens or other judgments against the seller: $37, if applicable (to record the satisfaction of a lien)
• Homeowner’s association dues: $189 per month
• Mortgage loan payoff fee: $9,570-$19,140 (this is variable, but if you pay your mortgage off early, you may incur a 1%-2% early payoff fee)
• Reconveyance fee and recording fees: $303.50 or more
• Prorated property taxes up to: $8,613
• Real estate excise tax (REET): 1.1%-3%

Washington sellers are also responsible for a real estate excise tax (REET), also known as a transfer tax. REET is calculated as a percentage of the sale price, typically about 1.1%-3%, but the tax differs in each county. The Washington State Department of Revenue has a calculator for the REET tax. The buyer can be liable for the tax if it’s not paid. Unpaid tax can become a lien on the transferred property.

Here’s the state’s graduated rate structure for excise tax as it currently stands:

Threshold	Rate
Equal to or less than 525,000	1.10%
525,000.01 – 1,525,000	1.28%
1,525,000.01 to 3,025,000	2.75%
Above 3,025,000.01	3.00%

 

In addition to REET, the seller may also pay a 0.5% local tax for the sale of a home in Seattle.

At-a-glance home selling cost example for Seattle

This at-glance analysis is based on the median home price of $957,000 in Seattle. These figures are a helpful planning tool for you as you prepare to sell your home.

Selling expense	Example cost	% of home sale price
Prepping your home for sale	$19,739	2.06%
Realtor® fees (commissions)	$52,635	5.5%
Concessions, closing costs, taxes, fees	$31,663	3.31%
Mortgage payoff (state average plus 1.5% early payment fee)	$349,563	36.53%
REET tax (Washington)	11,783.10	1.23%
Total selling cost example	$409,026	42.74%

*Based on Seattle’s median home price of $957,000.

In the example above, if you successfully sold your home for $957,000, you could potentially make a profit of $547,974. That’s a pretty nice chunk of change, and it can be even higher if you own more equity from your home and have fewer mortgage payments left before selling. Taking the mortgage payoff out of the equation, the cost to sell a house in Seattle would be around 12.1% of its list price.

Relocation expenses

One cost that you may not consider is the cost of relocating. The cost of moving depends on where you are moving and whether you want movers to pack up your belongings for you. Here is the general cost to move after you sell your home:

• Typical cost to move: $879-$2,543
• Typical cost to move out of state: $3,000-$9,500

How can I reduce my seller costs in Seattle?

There are several ways to reduce the cost to sell a house in Seattle. Some strategies are more effective than others.

Sellers should spend the time and money to beautify the inside and outside of their house to help increase the home’s purchase price. “It’s pretty customary to have yard cleanup, staging, house cleaning, window cleaning, and other minor repairs that need to be done,” Nordling says.

Some of the things that you can do to reduce seller costs include:

• Make DIY repairs where possible
• Negotiate a lower commission with your real estate agent
• Use a discount-commission agent or brokerage
• Put your home up for sale by owner (FSBO)
• Do not offer seller concessions or buyer incentives
• If you agree to pay closing costs or offer a repair credit, raise your home’s purchase price
• Avoid the urge to over-improve or make unnecessary fixes
• Sell your house off-market
• Time your home sale using HomeLight’s Best Time to Sell Calculator
• Use a top-performing agent with a proven list-to-sell ratio

Using a discount broker is not ideal. Nordling offers an analogy to explain the risks involved. “Imagine buying a plane ticket, sitting down, and then hearing the captain say, ‘I fly part-time, and I have a part-time pilot’s license. I know we might hit turbulence, and I think I can land safely.’”

Ultimately, a discount broker will offer discount services and may not be able to land the sale safely. That means you could leave tons of money flapping in the wind when all is said and done.

How much will I make selling my Seattle home?

Several factors play a role in the net proceeds you’ll make on your home sale, including:

• Method of selling (agent, FSBO, cash buyer, or iBuyer)
• Cost of repairs and improvements
• Total concessions or buyer incentives
• Closing costs, including state and local taxes
• Mortgage balance payoff amount
• REET (real estate excise tax)

The mortgage payoff amount is typically the most significant determining factor for calculating your net proceeds. The average Seattle homeowner has a remaining mortgage balance of $344,397.

If you’ve paid off your mortgage before selling your home, you can calculate your profits by taking the sale price minus selling costs. Ask your agent for a net sheet to be sure of your calculations.

When you sell your home can also be a determining factor in how much you will make. You want to strike when the iron is hot, and for most people, that means selling your house in late spring and early summer. Typically, families want to be in a home and settled before the next school year. Use HomeLight’s Best Time to Sell Calculator to decide when to sell for the most money or the speediest sale.

Try HomeLight’s free Net Proceeds Calculator to get an estimate of how much you might make selling your Seattle home.

As you look ahead to your next home purchase, try these other free HomeLight tools for buyers:

• Home Affordability Calculator
  
• Down Payment Calculator
  
• Closing Costs Calculator

Know what to expect, plan, and partner with a top agent

A good first step in determining the cost to sell a house in Seattle is to get a home value estimate.

Then you need to make a plan to maximize your profits. HomeLight’s free Agent Match platform can connect you with a top real estate agent in your market who can sell your property over its list price.

Typically, the cost to sell a house in Seattle is 12.1% or more of your home’s final sale price. That comes from the cost of:

• Prepping your house for sale
• Realtor® fees
• Seller concessions
• Closing costs
• Washington’s REET

Your mortgage payoff is also a tremendous expense when you decide to sell your home. Typically, it can amount to 35% or more of your total cost, plus an additional 1%-2% early mortgage payoff fee.

There are some options for lowering your expenses, but Nordling strongly suggests you stay away from discount brokers and FSBO. “It’s the biggest investment you’ll ever have, and you want an informed professional on your side to make sure you don’t leave any money on the table,” Nordling says.

HomeLight’s Agent Match can connect you with the highest-performing agents in your market who can help you make the most of your home sale. See our data-backed list of the top real estate agents in Seattle.

Header Image Source: (Austin Wehrwein / Unsplash)