Market Analysis

How long is normal? by Nicole

 

Treasure Cay | 2019

 

Did you know? There were 23 single family homes and condominiums sold over the past year (since June
2018)

 

The average number of days on the market was 578 days, just over a year and a half.

 

The range from longest to shortest days on the market is vast:

3 bedroom Bahama Beach Club condo - 2092 days, sale price: $426,000

A beachfront home with canal lot - 79 days, sale price: $1.36 million

 

I was inspired to do this analysis after several discussions with clients and agents unfamiliar with Treasure Cay. Many second home owners come from more active real estate markets and may be suspicious if a property has been on the market for two years or more. This is quite normal in Treasure Cay. Rely upon your agent's and, if necessary, the home inspector's, expertise first and foremost.

 

Bear in mind, that this study is limited only to listings on the MLS and does not take into account properties which were placed on the MLS, taken off, and then resubmitted with a different MLS number.

 

There are of course a slew of other factors to consider such as pricing, staging, marketing, and the agent’s responsiveness, knowledge & negotiating skills which all impact the length of time a property remains on the market.

 

Did you know?  In Treasure Cay in 2018...

The average difference between the list price and sale price is 10%, to the buyer's advantage.

 

The average cost per square foot for a condominium is $186 per square foot.  The average cost of a 2-3 bedroom condo is $264,584.  Interestingly, the year built seemed to have very little impact on the price.  The greatest span in years was between the top two (in terms of sale price) - 2007 and 1982!  

 

The median price for all homes sold (incl. condos & single family homes) is $267, 875.

 

Vacant land/lots are holding steady with buyers mostly meeting the sellers' asking price.  The most sought after area is Brigantine Bay with canal frontage lots selling at $11.6 per square foot.  If you want a better deal head to Galleon Bay where canal frontage lots are selling for $10 per square foot.  Rock Point is an idyllic location for nature lovers as it is off the beaten track but has amazing breezes, views and waterfront there is selling for $7.30 per square foot.  For the landlubbers, the real bargain is on interior lots (no canal or beach frontage), selling at $5 per square foot.  

 

Of course prices vary widely depending on location - main beach, Windward beach, canal lots closer to town and further from town, on the golf couse or on the TC highway.  You can be sure of one thing in TC, whether you are a buyer or seller, there is something remarkably unique about each and every property on this peninsula I am happy to call home! 

 

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Featured Listings

$499,000
WINDWARD BEACH ROAD
$230,000
583 BEACH VILLAS,CABOT RD
$370,000
643 BEACH VILLAS
$449,000
SAND DOLLAR #10
$349,000
SAND DOLLAR #12

673- BEACH VILLAS
$250,000
673- BEACH VILLAS
$275,000
WINDWARD BEACH DRIVE
$276,074.00
TREASURE CAY ROAD & BRIGANTINE BAY DRIVE

Information is from sources deemed reliable but it should not be relied upon without independent verification.
Not intended to solicit properties already listed for sale.
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