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 2025 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. 

The housing market in May 2025 saw further signs of cooling activity, with fewer transactions and price adjustments reflecting shifting dynamics on both the supply and demand sides.

New Listings dipped slightly by 7.0% year-over-year (YoY), with 53 homes entering the market compared to 57 in May 2024. Year-to-date (YTD), the decline is more pronounced, down 26.4%, highlighting ongoing inventory constraints.

Contracted Sales increased by 83.9% YoY, totaling 57 for the month. Additionally, YTD figures show a 26.5% increase, with 191 homes going under contract so far in 2025 versus 151 during the same period last year.

Completed Sales saw a sharp 52.4% YoY decline, dropping to just 10 closed transactions. This brings the YTD total to 69, down 1.4%, indicating slower conversion.

The Median Days on Market (DOM) fell 11.8% YoY to 82 days, suggesting quicker movement for well-priced properties. Conversely, the YTD DOM also dropped slightly by 4.8% to 89 days, showing a slight slowdown over the longer term.

Price trends were notably softer. The Median Price fell 34.3% YoY to $450,000, while the Average Price plummeted by 41.5% to $922,500. YTD figures show a different scenario, with the median increasing 6.3% and the average falling 29.7%, pointing to fewer high-end transactions.

The Average List-to-Sale Price Ratio declined 2.6% YoY to 91.9%, while YTD it dipped by 2.0% to 93.1%, indicating buyers are negotiating more favorable deals.

Overall, May’s data suggests a market in transition—still active, but marked by a reduction in luxury sales, continued supply tightening, and more measured buyer behavior.

Home Market Indicators

New Listings, Contracted Sales & Completed Sales

 Average & Median Price

The land market in Nassau and Paradise Island during May 2025 reflected significantly lower activity and a steep drop in pricing, following April’s strong buyer engagement.

New Listings dropped 35.0% YoY, with only 26 lots coming to market versus 40 in May 2024. The YTD supply drop is even more severe at 49.7%, with just 91 listings year-to-date compared to 181 last year.

Contracted Sales saw a large increase of 59.1% YoY to 35, and YTD figures are similarly up by 48.6%, signaling more buyer interest in the current land market.

Completed Sales declined dramatically by 53.3% YoY, with only 7 parcels closing in May. YTD closings now stand at 26—down 43.5% from 46 at this point last year.

Median Days on Market surged by 327.8% YoY to 77 days, pointing to a bit more of a delay when closing. YTD, the median DOM also increased by 54.9%, showing an extended timeline for deal completion.

Pricing trends took a sharp downturn. The Median Price dropped 63.5% YoY to $115,000, and the Average Price fell 51.3% to $136,142. YTD figures also showed declines, with the median price down 18.8% and the average down 13.7%, reflecting less demand at higher price points.

Despite overall softness, sellers did see a slight improvement in their negotiation leverage. The Average List-to-Sale Ratio rose 4.9% YoY to 100.6%, and improved by 2.77% YTD, reaching 95.4%.

May’s land market data reveals a marked deceleration in both buyer and seller activity but an increase in interest, with extended timelines and declining prices defining the landscape.

Land Market Indicators

New Listings, Contracted Sales & Completed Sales

Average & Median Price