National average is $5‚779
A new report1 examines the financial impact geography can have on mortgage closings costs. Not surprisingly‚ the cost to close varies greatly‚ depending on the state in which the sale takes place.
- Nationally‚ average closing costs for a single-family home in 2018 were $5‚779. Calculations included taxes as well as fees for titles‚ appraisals‚ recording‚ and surveys.
- Here in Massachusetts‚ the average was $5‚924 – 13th highest in the country.
- The District of Columbia topped the list ($24‚613) followed by New York ($13‚581) and Delaware ($13‚309). The most affordable states to close in? That would be Missouri ($1‚887)‚ Indiana ($2‚002)‚ and South Dakota ($2‚149).
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1Steve Randall‚ “These states had the highest closing costs in the country in 2018‚” Mortgage Professional America‚ last updated June 18‚ 2019.