Our monthly Market Report provides meaningful and valuable information, to empower buyers and sellers who are considering a real estate transaction in Nassau or Paradise Island (Bahamas).

If you're considering selling your property or buying property on Nassau or Paradise Island, it's essential to understand what's happening in The Bahamas' real estate market. Knowing the most important data, such as median and average prices, the number of properties sold, the number of new listings, and the days on the market will better prepare you for selling or buying.

We are happy to share our May 2026 analysis of the Nassau and Paradise Island market. We also encourage you to review our quarterly market reports on Abaco, Eleuthera, Exuma, Grand Bahama and New Providence.

Our market reports provide Morley's interpretation of the data from the Bahamas Real Estate Association MLS. Even though the MLS does not include all real estate sales and related real estate data, we believe the MLS data is reasonable and consistent to be reliable to use to estimate local real estate trends. 

Here's everything that happened in our real estate market last month.

The Nassau housing market in May showed a slight pullback in monthly listing and contract activity compared to last year, while completed sales strengthened considerably. Year-to-date trends continue to reflect higher inventory and stronger contract volume, though overall closings remain relatively flat compared to 2025.

New Listings declined 5.7% year-over-year, with 50 homes brought to market compared to 53 in May 2025. However, YTD new listings remain up 23.3%, increasing to 275 homes compared to 225 during the same period last year, indicating that available inventory has continued to improve throughout 2026.

Contracted Sales decreased 8.8% YoY to 52 homes, down from 57 in May 2025. Despite the slower monthly comparison, YTD contracted sales remain significantly higher, rising 43.5% to 274 homes compared to 191 last year. This suggests that buyer activity remains ahead of last year overall, even with a softer month in May.

Completed Sales more than doubled during the month, increasing 120.0% YoY to 22 closings compared to 10 in May 2025. On a YTD basis, completed sales are nearly unchanged, with 68 closings compared to 69 last year, a slight 1.4% decline. This indicates that while May was a stronger closing month, overall completed transaction volume remains broadly in line with 2025.

Market pace improved during the month, with Median Days on Market decreasing 13.4% YoY to 71 days from 82 days in May 2025. However, YTD figures show homes taking longer to sell overall, with median days on market rising 39.3% to 124 days compared to 89 days last year.

Pricing strengthened sharply for the month. The Median Sales Price increased 60.8% YoY to $667,500 from $415,000, while the Average Sales Price rose 115.8% to $1,819,545 compared to $843,200 last May. On a YTD basis, pricing trends were mixed, with the Median Sales Price down 13.4% to $515,000 from $595,000, while the Average Sales Price increased 22.0% to $1,331,132 from $1,091,051. This suggests that May included a greater concentration of higher-value sales, while the broader YTD median remains below last year.

The Average List-to-Sale Ratio improved to 95.6%, up 3.7% from 91.9% in May 2025, indicating that homes sold closer to asking price than they did last year. YTD, the ratio also improved slightly to 94.2% from 93.1%, a 1.1% increase, reflecting continued stability in seller pricing relative to asking values.

Overall, May’s housing data reflects a market with stronger closing activity, improved monthly pricing, and homes selling closer to asking price. While monthly listing and contract activity softened slightly, the year-to-date figures continue to show stronger inventory and contract volume compared to last year, suggesting that buyer demand remains active across the Nassau housing market.

The Nassau land market in May showed a notable decline in new listings, while contracted sales, completed sales, and pricing all improved compared to last year. Year-to-date performance remains positive across most key indicators, supported by stronger transaction activity and higher average pricing.

New Listings declined 46.2% YoY, with 14 parcels brought to market compared to 26 in May 2025. Despite the slower month, YTD new listings remain up 13.2%, increasing to 103 parcels compared to 91 during the same period last year, showing that overall land inventory has still expanded compared to 2025.

Contracted Sales increased 28.6% YoY to 45 parcels, up from 35 in May 2025. This strength is also reflected YTD, with contracted sales rising 37.7% to 219 parcels compared to 159 last year, highlighting continued buyer interest in land throughout the Nassau market.

Completed Sales increased 14.3% YoY, with 8 closings compared to 7 in May 2025. On a YTD basis, completed sales are up 34.6%, rising to 35 closings from 26 last year, indicating that more land transactions are successfully moving through to completion.

Market pace slowed during the month, with Median Days on Market increasing 18.8% YoY to 92 days compared to 77 days in May 2025. However, the broader YTD trend remains improved, with median days on market down 19.4% to 141 days compared to 175 days last year, suggesting that land parcels are still selling faster overall in 2026.

Pricing trends strengthened across both monthly and year-to-date comparisons. The Median Sales Price increased 40.4% YoY to $161,500 from $115,000, while the Average Sales Price rose 49.6% to $203,625 compared to $136,143 last May. YTD, the Median Sales Price is up
4.5% to $140,000 from $134,000, and the Average Sales Price increased 45.1% to $320,614 from $221,019, reflecting stronger pricing across the land market.

The Average List-to-Sale Ratio declined slightly during the month to 99.0% from 100.6%, a 1.6% decrease, indicating that parcels sold just below last year’s asking-price performance.
However, on a YTD basis, the ratio improved slightly to 95.7% from 95.4%, suggesting that sellers are still achieving pricing close to asking values across the broader market.

Overall, May’s land data reflects a market with fewer new listings during the month but continued strength in buyer demand, transaction activity, and pricing. With contracted and completed sales both ahead of last year and YTD days on market still improved, the land market remains active and well-positioned despite the slower pace of new inventory in May.

We're able to explain what these numbers mean for you and better guide you to make an informed decision that is best for you based on the current market conditions.