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 September 2023 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 volume of contracted home sales for September (30) remained consistent with last month (31) and significantly higher than September 2022 (9). The median sales price has continued to increase since May and was slightly higher than in September 2022. The average sales price has also continued to increase since May but was significantly lower than September 2022. The volume of closed home sales for September (26) continues to be fairly consistent in the past 7 months and slightly higher than September 2022 (24). The number of new home listings for September (70) is the second-highest monthly volume in all of 2022 and 2023. Since February 2023, the number of new home listings continues to far exceed the number of contracted sales each month, thereby continuing to increase the inventory of Nassau and Paradise Island homes currently on the market. The "Days on the Market" for September contracted home sales (121) are consistent with August (120) and increased over June (94) and July (88).

Home Market Indicators

New Listings, Contracted Sales & Completed Sales

 Average & Median Price

The volume of contracted land sales for September (12) is higher than September 2022 (7) and is consistent with June and July and so far higher than the other months of 2023. The median sales price was lower than in the last 2 months but still higher than in the earlier part of 2023 and September 2022. The average sales price for September shows a slight decrease over last month. The volume of closed land sales for September remains fairly consistent with the 2023 monthly levels and higher than the 2022 monthly average. The volume of new land listings for September (39) is the third-highest monthly total for 2023 and significantly higher than September 2022 (2). Since the start of 2023, each month, the volume of new land listings has exceeded the contracted sales volume, thereby increasing the inventory of available Nassau and Paradise Island land listings. There was a significant decrease in the "Days on the Market" for contracted land sales in September from August and the shortest period for 2023. 

Land Market Indicators

New Listings, Contracted Sales & Completed Sales

Average & Median Price