Exuma Oceanfront Market Overview

The real estate market in The Exuma Islands has shown notable shifts from 2023 to 2024, reflected in listing prices, sales prices, days on market (DOM), sales volume, and active listings. These insights can guide both buyers and sellers as they navigate current market conditions.

1. Median Listing Price and Median Sales Price

• Trend: Both median listing and sales prices have slightly declined in 2024 compared to 2023.
• Perspective for Sellers: This trend suggests that buyers are more price-sensitive, and realistic pricing can be critical for attracting offers. Sellers should consider competitive pricing strategies to align with market expectations and facilitate quicker sales.
• Perspective for Buyers: The slight decrease in prices indicates an opportunity for buyers to negotiate favorable deals. This is particularly beneficial for those looking to invest, as prices have softened without substantial drops, indicating steady value.

2. Average Days on Market (DOM)

• Trend: The average DOM has increased, with properties taking longer to sell in 2024 compared to 2023.
• Perspective for Sellers: An increase in DOM may indicate a more cautious buyer market. Sellers should be prepared for potentially longer listing periods and consider strategic pricing and presentation to attract interest. This environment highlights the importance of staging and marketing, as well-prepared homes are more likely to stand out and sell faster despite the extended timelines.
• Perspective for Buyers: With properties spending more time on the market, buyers may find they have more time to consider options and negotiate favorable terms. However, they should still act strategically, as desirable homes may still attract competition.

3. Sales Volume

• Trend: Sales volumes in 2024 have remained similar to those in 2023, with a slight increase.
• Perspective for Sellers: The steady sales volume, with a slight uptick, suggests stable demand in the market. Sellers can remain optimistic, as the consistent activity indicates buyers are still actively looking. However, competitive pricing and effective marketing will remain essential to attract offers within this balanced market.
• Perspective for Buyers: With sales volumes holding steady, buyers may find a stable range of options, although the slight increase suggests some properties are moving more readily. This stability can offer buyers more confidence in their investments, but they should still be prepared to act decisively on desirable properties.

4. Number of Active Listings

• Trend: Active listings have seen a slight increase, providing a modest expansion of options for buyers.
• Perspective for Sellers: The slight increase in active listings means there is still a competitive environment, though not drastically different from the previous year. Sellers should focus on strategic pricing and strong presentation to capture buyer interest. Highlighting unique features and maintaining a competitive price will be essential to stand out.
• Perspective for Buyers: The small rise in active listings provides buyers with a slightly broader selection, allowing for some additional flexibility. While options have increased, the change is minimal, so buyers should remain prepared to act promptly when they find the right property.

The 2024 market dynamics reflect strong buyer activity, with prices adjusting slightly to meet demand. Sellers can benefit from the high demand, but must remain competitive. Buyers, meanwhile, have more choices but should be prepared to act quickly in this active environment. Both sellers and buyers can find opportunities to meet their real estate goals by aligning with these trends and taking informed, strategic actions.