How much does it cost to sell a home in Iowa?

If you are like many residents of Iowa, your home is probably your most important financial asset. Choosing to sell it was a big decision. You may be considering moving to another state, moving to a suburb, or shrinking to a more practical property. Regardless of your motivation, you may be committed to maximizing revenue while carrying out a seamless sales process.

When you plan your move, understanding the costs associated with selling an Iowa home is crucial to avoid being surprised at the closing ceremony. In this article, we will take you through the specific costs you can expect, along with price estimates, to get a clearer picture of the cost of selling an Iowa home.

Housing Trends in Iowa

Similar to many states across the country, Iowa’s housing market is facing high interest rates and rising rates.

Here is a snapshot of the current real estate landscape in Iowa:

Source: Iowa Real Estate Agent, Redfin, World Population Review

As an Iowa seller, one important statistic to note is the Days on the Market (DOM), which indicates the average time from listing the home to getting the signed purchase agreement. In Iowa, the average DOM is 11 days.

Start with the house value estimation

A good starting point when estimating the cost of selling a home in Iowa is to get a home value estimate. Given the changing home values ​​and local market trends, it is wise to have a general understanding of the current value of your home. You may be surprised by its value.

For quick and easy online estimation, you can request one through Homelight’s Home Value Estimator. This free automatic valuation model (AVM) tool analyzes recent sales, market conditions, and the latest selling price of your home to provide a preliminary range of value in less than two minutes. Just enter your address to get started.

How much does it cost to sell a home in Iowa?

The answers are different. According to our findings, the cost of selling a home in Iowa usually ranges from 6% to 10% of your final selling price.

For example, if you sell a home for $239,000 (median home price in Iowa), your sales expenses could drop from $14,340 to $23,900.

Which end of your payment depends heavily on your choice in terms of home preparation, agency commissions and any discounts offered to buyers. Let’s explore the factors that need to be considered when calculating the cost of selling a home in Iowa.

What are the common fees for sellers in Iowa?

The cost of selling a home in Iowa may depend on your specific circumstances and changes in the market conditions in the state. Factors like your home size, age and condition will also play a role in the expenses you prepare for the market.

The estimated prices below are guides to assist with your planning.

Prepare for sale of the house

Prepare your Iowa home for sale at the usual price between 1.5% and 2.7% of the final sale price of your home. That could be between $3,585 and $6,453, based on the state’s median house prices.

Here is a breakdown of these fees:

Consult a real estate agent before working on any important project, such as kitchen remodeling or roof replacement. An experienced Iowa real estate agent can suggest the best return on your investment in regards to the needs solutions you need to address and what items you can skip when selling your home.

Iowa Real Estate Agent Fees

Agent committees are one of the most important costs in real estate transactions. In Iowa, real estate broker fees can sell at a price of between 2.5% and 6%, depending on whether you choose to cover the buyer’s agent commission. This is no longer needed after a landmark court settlement set by the National Commission.

Based on the median home price in Iowa of $239,000, you can expect to pay $5,975 (2.5%) and $14,340 (6%) in real estate agent commissions.

While the agency board may seem important, working with experienced real estate professionals can greatly impact your bottom line, helping you walk away more. Homelight’s transaction data shows that the top 5% of agents across the United States sell for 10% more than the average agent.

Later in this post, we will demonstrate how agency fees affect the total cost of sales in your AT-A-Glance overview example chart.