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CT Avg Real Estate Commission Rate in New Haven, Milford, Connecticut

New Haven is a coastal city in the U.S. state of Connecticut. It is located on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut, and is part of the New York metropolitan area. With a population of 129,779 as determined by the 2010 United States Census, it is the second-largest city in Connecticut after Bridgeport. New Haven is the principal municipality of Greater New Haven, which had a total population of 862,477 in 2010.

New Haven was the first planned city in America. Founded in 1638 by English Puritans, a year later eight streets were laid out in a four-by-four grid, creating what is commonly known as the "Nine Square Plan". The central common block is the New Haven Green, a 16-acre (6 ha) square, and the center of Downtown New Haven. The Green is now a National Historic Landmark and the "Nine Square Plan" is recognized by the American Planning Association as a National Planning Landmark. The Green also serves as a free public WiFi hotspot.

New Haven is the home of Yale University. As New Haven's biggest taxpayer and employer, Yale serves as an integral part of the city's economy. Health care (hospitals and biotechnology), professional services (legal, architectural, marketing, and engineering), financial services, and retail trade also contribute to the city's economic activity.

The city served as co-capital of Connecticut from 1701 until 1873, when sole governance was transferred to the more centrally located city of Hartford. New Haven has since billed itself as the "Cultural Capital of Connecticut" for its supply of established theaters, museums, and music venues. The New York Times said the city has "Art almost everywhere you look."

New Haven had the first public tree planting program in America, producing a canopy of mature trees (including some large elms) that gave New Haven the nickname "The Elm City".

 

New Haven, Milford, Connecticut Average Real Estate Agent Commission Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in New Haven, Milford, Connecticut. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In New Haven, Milford, Connecticut , you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0-5.5%

Very Competitive Commission: 4.5-4.99%

The median existing single-family home price in the Northeast rose 3.2%, to $282,300, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of Connecticut, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Bridgeport, Stamford, Norwalk $409,400 7.6%
Hartford, West Hartford, East Hartford $239,000 0.9%
New Haven, Milford $229,400 2.1%
Norwich, New London $225,400 5.7%
Worcester, MA-CT $255,700 5.5%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Connecticut.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

The U.S. Census Bureau reports a 2010 population of 129,779, with 47,094 households and 25,854 families within the city of New Haven. The population density is 6,859.8 people per square mile (2,648.6/km²). There are 52,941 housing units at an average density of 2,808.5 per square mile (1,084.4/km²). The racial makeup of the city is 42.6% White, 35.4% African American, 0.5% Native American, 4.6% Asian, 0.1% Pacific Islander, 12.9% from other races, and 3.9% from two or more races. Hispanic or Latino residents of any race were 27.4% of the population. Non-Hispanic Whites were 31.8% of the population in 2010, down from 69.6% in 1970. The city's demography is shifting rapidly: New Haven has always been a city of immigrants and the Latino population is growing rapidly. Previous influxes among ethnic groups have been African-Americans in the postwar era, and Irish, Italian and (to a lesser degree) Slavic peoples in the prewar period.

 
OTHER DATA:

It is estimated that 14% of New Haven residents are pedestrian commuters, ranking it number four by highest percentage in the United States. This is primarily due to New Haven's small area and the presence of Yale University.

New Haven is a predominantly Roman Catholic city, as the city's Dominican, Irish, Italian, Mexican, Ecuadorian, and Puerto Rican populations are overwhelmingly Catholic. The city is part of the Archdiocese of Hartford. Jews also make up a considerable portion of the population, as do Black Baptists. There is a growing number of (mostly Puerto Rican) Pentecostals as well. There are churches for all major branches of Christianity within the city, multiple store-front churches, ministries (especially in working-class Latino and Black neighborhoods), a mosque, many synagogues (including two yeshivas), and other places of worship; the level of religious diversity in the city is high.

A study of the demographics of the New Haven metro area, based on age, educational attainment, and race and ethnicity, found that they were the closest of any American city to the national average.

 

ECONOMY:

New Haven's economy originally was based in manufacturing, but the postwar period brought rapid industrial decline; the entire Northeast was affected, and medium-sized cities with large working-class populations, like New Haven, were hit particularly hard. Simultaneously, the growth and expansion of Yale University further affected the economic shift. Today, over half (56%) of the city's economy is now made up of services, in particular education and health care; Yale is the city's largest employer, followed by Yale – New Haven Hospital. Other large employers include Southern Connecticut State University, Assa Abloy lock manufacturing, the Knights of Columbus headquarters, Higher One, Alexion Pharmaceuticals, Covidien and United Illuminating. Yale and Yale-New Haven are also among the largest employers in the state, and provide more $100,000+-salaried positions than any other employer in Connecticut.

In 2017, New Haven was ranked by a Verizon study as one of the top 10 cities in America for launching tech startups, and top two in New England.

Industry sectors: Agriculture (.6%), Construction and Mining (4.9%), Manufacturing (2.9%), Transportation and Utilities (2.9%), Trade (21.7%), Finance and Real Estate (7.1%), Services (55.9%), Government (4.0%)

*Data provided by Bankrate.com - Real Estate and Wikipedia - New Haven - Connecticut