Market Review - June 2007

  • Jun 30, 2007

Market Review - June 2007

Currently in the Multiple Listing System there are 2,030 active listings totalling US$1.62 billion. The average amount of time a property is on the market is 259 days. To date so far this year (June 2007) 259 listings have been sold, amounting to US$175.2 million. There are 373 properties that are under contract and scheduled for closing amounting to US$184.6 million. This is mainly from sales that were done last year and pre-construction properties that have not yet completed. Over the last year the association has seen the average movement in price from listing price to sales price to be at 6% for the 317 sold condominiums with average days on market of 417 days. Residential homes have seen an average movement in price from listing price to sales price of 12% for the 86 homes sold, with an average days on market of 301 days. Residential / agricultural parcels of land have seen a 12% movement for the 194 parcels sold and they have been on the market for an average of 439 days.

Cayman Islands Real Estate Brokers Association