New Providence

Market Summary

Home sales volume remained fairly constant in March, while the median price decreased slightly for the first time since November 2022. For the second consecutive month, the volume of new listings of homes (95) increased and was significantly higher than actual home sales (36), reflecting an increase in the inventory of homes available in New Providence. The "days on the market" for the home sales in March show a continued increase over the past 4 months, most likely due to more inventory being added to the New Providence market, even though there is a continued strong demand for home sales.

The volume of land sales in March increased considerably over prior months, while the median price remained consistent with those in the past 3 months. For the second consecutive month, the volume of new listings of land (43) far outpaced the volume of actual land sales (23), reflecting a continued increase in the inventory of land available in New Providence. The "days on the market" for the land sales in March show an increase over the past 5 months, most likely due to more inventory being added to the New Providence market even though there is a continued strong demand for land sales.

Abaco

Market Summary

Home sales volume remained fairly constant in March, while the median price increased slightly over prior months. For the second consecutive month, the volume of new listings of homes (18) remained higher than in prior months. It continued to outpace the volume of actual home sales (14), reflecting a slight increase in the overall inventory of homes available. The "days on the market" for the home sales in March also show an increase over the past 3 months, most likely due to more inventory being added to the overall Abaco market, even though the demand for home sales in March for Abaco remained consistent.

The volume of land sales in March also increased considerably over the prior months while the median price declined. For the first time in the past 9 months, the volume of actual land sales (23) exceeded the volume of new listings of land (21), thereby reflecting a slight contraction in the overall inventory of land available in Abaco. The "days on the market" for the land sales in March shows a slight increase over the past 2 months but still less than the "days on the market" from August through December 2022.

Eleuthera

Market Summary

Home sales volume in March increased considerably to its highest in the 9-month period, while the median price decreased in comparison to February but was still much higher than the median price for the proceeding 6-month period. The volume of new listings of homes (6) in March decreased from February but was slightly higher than the actual home sales (5). The prior 8-month period reflects an overall increase in the inventory of homes available in Eleuthera. The "days on the market" for the home sales in March show a continued decrease over the past 8 months, most likely due to more demand for home sales in Eleuthera this past month.

The volume of land sales in March increased considerably over prior months, while the median price remained consistent with the median price in February. The volume of new listings of land (19) remained fairly consistent and continues to exceed the volume of actual land sales (11), reflecting a continued increase in the overall inventory of land available in Eleuthera. The "days on the market" for the land sales in March show an increase over the past 2 months, most likely due to more inventory being added to the Eleuthera market even though March continued to show consistent demand for land sales.

Exuma

Market Summary

Home sales volume in Exuma remained fairly constant In March, while the median price remained fairly consistent. The volume of new listings of homes (3) continued to outpace the volume of actual home sales (2), reflecting continued growth in the overall inventory of homes available in Exuma. The "days on the market" for the home sales in March showed a significant increase over the past 8 months, most likely due to more inventory being added to the overall market In Exuma, even though there appears to be a continued demand for home sales.

The volume of land sales in March decreased slightly over February but continued to outpace the prior 7 months, while the median price remained fairly consistent with the median prices for the same period (except February). For the second consecutive month, the volume of new listings of land (16) remained significantly higher than the volume of actual land sales (4), reflecting an increase in the inventory of land available in Exuma. The "days on the market" for the land sales in March shows a significant decrease over February, but over the past 9 months, the "days on the market" data has shown to be very erratic.

Grand Bahama

Market Summary

Home sales volume in Grand Bahama remained fairly constant in February and March, while the median price decreased slightly for the first time in the past 9 month period. For the second consecutive month, the volume of new listings of homes (29) remained higher than that of actual home sales (9), reflecting a continued increase in the overall inventory of homes available In Grand Bahama. The "days on the market" for the home sales in March remained consistent with February despite the increase in the actual number of sales in the past 2 months over the prior months.

The volume of land sales in Grand Bahama also remained consistent in February and March, while the median price dropped considerably. For the second consecutive month, the volume of new listings of land (23) remained significantly higher than the volume in prior months (except February) and significantly higher than the volume of actual land sales (4), reflecting a continued increase in the overall inventory of land available in Grand Bahama. The "days on the market" for the land sales in March show a significant increase over the past 4 months, most likely due to more inventory being added to the overall Grand Bahama market.