Sellers Are Giving More Concessions, Here's What That Means for Your Move
Sellers are saying yes more often these days. Fresh data from the National Association of REALTORS shows closing cost credits are now one of the most common ways sellers sweeten a deal to get it done. If you are buying or selling in Naperville, Aurora, Oswego, or Plainfield right now, this shift affects you either way.
What Is a Seller Concession, Really?
A seller concession is not the same as lowering the price. It is when a seller agrees to cover a specific cost for the buyer, like part of the closing costs, a repair, or a credit toward a rate buydown. The home price on paper stays the same, but the buyer walks away spending less out of pocket.
According to NAR’s own consumer guide, closing cost credits are the most requested type of concession right now. Sellers like them because the sale price on public record does not change. That protects comparable sales in the neighborhood for future appraisals. Buyers like them because it lowers what they need at the closing table.
Builders Are Doing the Same Thing
It is not just resale sellers. Builders are leaning on incentives too. HousingWire reported that 64% of builders recently offered sales incentives, and 37% cut prices outright. That is not a one month blip either. Builders have kept incentive levels above 60% for well over a year straight, according to the same report.
The most common builder incentives right now are mortgage rate buydowns, price adjustments, and free upgrades like better finishes or appliances. If you have new construction on your radar in Oswego or Plainfield, this is the best time in a while to ask what is on the table.
What This Looks Like Here in the Western Suburbs
National data is useful, but local context is what actually matters for your move. We have closed more than a hundred transactions in both Naperville and Plainfield, so we see these negotiations play out in real time, not just in a report.
We regularly see concessions get split this way on both sides of a deal. On the buy side, a seller will often handle the bigger repair items directly and then offer a credit to cover whatever is left. On the sell side, our sellers regularly agree to take care of a few things themselves and then offer a credit for the smaller stuff, the items that are not worth turning into a whole project but are enough to keep the buyer comfortable and moving forward. It is rarely all repairs or all credit. It is usually a mix, and figuring out the right split is where we spend most of our time.
The latest NAR existing home data shows the median home price hit an all-time high in June 2026, even while month over month sales slowed. That mix, high prices and softer sales, is exactly the kind of market where concessions start showing up more.
How We Help You Use This
We regularly help buyers and sellers figure out what to actually ask for instead of just asking for more. A concession request that makes sense on one street may not make sense two blocks over. We look at recent comparable sales, days on market, and inspection findings before we tell a client what is realistic.
Frequently Asked Questions
What is the difference between a concession and an incentive?
A concession usually comes up during negotiation on an existing home. An incentive is something a builder advertises upfront to attract buyers. Both lower your total cost without necessarily changing the listed price.
Are sellers near me actually offering concessions right now?
It depends on the home, the price point, and how long it has been on the market. We can pull the specific comparable data for your neighborhood in Naperville, Aurora, Oswego, or Plainfield so you know what is realistic before you negotiate.
Can I ask for a concession on a brand new construction home?
Yes. Builders are offering incentives at some of the highest rates in years. Rate buydowns, price adjustments, and free upgrades are all common right now, so it is worth asking before you sign anything.
Do concessions affect my mortgage approval?
Sometimes. Lenders cap how much of a concession can go toward closing costs based on your loan type. We can walk you through what your specific loan allows before you make a request.
Whether you are trying to sell without leaving money on the table, or you are buying and wondering what you can ask for, this is a conversation worth having before you write or accept an offer. Let’s look at your specific street and figure out what is realistic. You can also browse current listings anytime on our Zenlist search.
Ready to make your next move in the western suburbs of Chicago?
We are here to help you every step of the way, whether you are buying, selling, or just exploring your options.
Julia Corkey & Vickie Schoenfeld
Team Elite Realtors at Baird & Warner
630-286-9777 | [email protected] | www.homesbyteamelite.com
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