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 November 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 November (19) was slightly lower than October but the volume was still 46.2% higher than the November 2022 volume of contracted home sales. The median sales price increased 18.3% more than in November 2022, while the YTD median price remains  12.8% higher than the 2022 YTD median price. The average sales price for November continued to increase since May and was significantly higher (96.8%) than in November 2022 while the 2023 YTD average price is 18.9% lower than the 2022 YTD average price. The volume of closed home sales for November (10) was the same as October and dropped 58.3% versus November 2022. The number of new home listings for November (72) is higher than in October and increased 80% over the November 2022 volume of new listings. 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 November contracted home sales (19) increased 2.1% from November 2022 and decreased 15.2% YTD versus 2022 YTD. The Average List/Sale Ratio for November 2023 (93.9) decreased slightly from November 2022, while the 2023 YTD increased slightly (0.4% ) from the 2022 YTD.

Home Market Indicators

New Listings, Contracted Sales & Completed Sales

 Average & Median Price

The volume of contracted land sales for November (13) is higher than in October and increased 1200% over the November 2022 volume. The median sales price was lower 43.9% lower than in November 2022 and the 2023 YTD remains 18.6% higher than the 2022 YTD median price. The average sales price for November shows an increase of 58.4% over the November 2022 average price while the 2023 YTD average price is 7.8% higher than the 2022 YTD average price. The volume of closed land sales for November increased 140% more than the November 2022 volume, and the 2023 YTD volume of completed sales increased 17.3% over the 2022 YTD completed sales. The volume of new land listings for November (46) is higher than in October and 155.6% higher than in November 2022. 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 19.5% increase in the "Days on the Market" for contracted land sales in November over November 2022 and the 2023 YTD increased 14.3% over the 2022 YTD Day on the Market. The Average List/Sale Ratio for November 2023 (94.3) increased slightly from November 2022, while the 2023 YTD increased slightly (0.8% ) from the 2022 YTD.

Land Market Indicators

New Listings, Contracted Sales & Completed Sales

Average & Median Price