2018 Third Quarter Review

2018 Third Quarter Review

The entire Cayman Islands Property Market Statistics – Q3 2018.

A quick, snap-shot-picture of Cayman’s real estate activity and trends so far in 2018.

Providing you with the most up to date information to help you make the most educated property decisions is what we aim to do. If you have any specific inquiries about any of these numbers, please feel free to reach out to a team member and talk numbers!

950 CURRENT – (properties currently available):

  • 319 condos (US$87,000 → $15.5M)
  • 216 homes (US$180,000 → $39.95M)
  • 386 land (US$55,000 → $50M)
  • 29 commercial (US$244,000 → $11.5M)

That’s ONLY 950 total available options country wide and it’s declining rapidly, creating a deeper sellers market in most sectors. Watch it drop!

164 PENDING/CONDITIONAL – (accepted offers awaiting conditions to be satisfied):

  • 71 condos (US$349,000 → $15.5M)
  • 38 homes (US$207,000 → $3.5M)
  • 53 land (US$48,000 → $1.9M)
  • 2 commercial (US$2.7M → $6.5M)

That’s 164 contracts going through the all important due diligence! Seldom do they come back to market. This number will start to increase into NOV & DEC.

71 PENDING – (offers accepted with no conditions):

  • 40 condos (US$107,000 → $56.5M)
  • 13 homes (US$340,000 → $3.5M)
  • 17 land (US$119,000 → $2M)
  • 1 commercial (US$423,000)

That’s 71 at the brink of closing. If you’re not one of them have you asked yourself why not? Want to know how you can get on the list?

600 SOLD – (completed transactions so far in 2018):

  • 268 condos (US$51,000 → $5.7M)
  • 124 homes (US$95,000 → $2.2M)
  • 191 land (US$91,000  → $1.55M)
  • 17 commercial (US$31,700 → $6.3M)

That’s an AVG of 2.19 sales per day so far this year! It’s continuing to increase. These buyers & sellers are benefiting tremendously from the market movements.

306 SEVEN MILE BEACH CORRIDOR:

  • 211 condos (US$278,000 → $15.5M)
  • 39 homes (US$546,000 → $19M)
  • 48 land (US$462,000 → $50M)
  • 8 commercial (US$337,000 → $6.5M)

That’s 306 limited opportunities along the exclusive GEM of the Cayman Islands! There’s something for every investor and remember, LOCATION MATTERS!

Source: CIREBA – Disclaimer: these are approximate figures designed to provide a snap shot image of the Cayman Islands Property market only and are subject to further discussion. If you have a desire to see specifics as it relates to your property journey please let us know.