What Is the Cost of Selling a House in Maryland?
Learn the cost of selling a house in Maryland, including repairs, agent commissions, taxes, and other fees or closing costs. See expert agent tips.
If you’re like most homeowners in the Old Line State, your house is your most valuable asset. When you decide to sell, it’s a huge financial and logistical move. You’ll want to keep as much of the profits as possible. But what is the cost of selling a house in Maryland?
In this post, we’ve researched the typical expenses you can expect to pay and gathered expert selling tips from a top-rated Maryland real estate agent.
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Housing market trends in Maryland
Like much of the country, Maryland’s housing market has slowed down in recent years. Fortunately for sellers, however, Maryland is still considered a seller’s market, with low inventory and a fair level of buyer demand. The median home price in the state is around $422,000, up about 3.5% over last year. To retain these increases, sellers need to adapt to the shifted market.
“We still have sellers, unfortunately, who think we’re still in 2020-2021, where they can just throw a property on the market with zero prep and expect it to have multiple offers,” says David Friedman, a top-rated Maryland real estate agent who sells homes nearly 60% faster than average agents in his market. “But that ship has sailed.”
Another ship that’s sailed, according to Friedman, is expecting to sell your home for far more than its market value. In fact, he advises sellers to be patient if they’re listing right at market value.
“If a property is aggressively priced, it will still be able to sell in a week or two. But anything that is [priced at] market value will take a month or two to sell,” he says.
