Connecticut Real Estate Facts

Connecticut's January foreclosure rate ranked 8th highest among the states.

In March, www.CTReal.com was launched by the Connecticut Statewide Multiple Listing Service. It is the official public search engine of the Connecticut Association of Realtors.

There are currently 25 residential listings priced over 5 million dollars through the Connecticut Multiple Listing Service. (The highest priced home to sell this year sold for 11 million dollars in Farmington.)

Connecticut law requires that a Realtor® furnish you with a written agreement setting forth all the terms and conditions of the representation between you and the Realtor® prior to showing you a property that is not listed with the Realtor®'s firm.

Sales of single-family houses in Connecticut dropped by nearly 30 percent in March, compared with the same month in 2007.

Connecticut law requires a person who sells real property to pay a real estate conveyance tax when he conveys the property to the buyer.  The tax has two parts; a state tax and a municipal tax. The state tax rate is either 0.5% or 1% of the sale price, depending on the type of property and how much it sells for, and the town tax rate is either 0.25% or up to a maximum of 0.5% depending on where the property is located.