Q1 2025 Bahamas Real Estate Market Overview
The Bahamian property market entered 2025 with mixed signals—rising prices in many segments, but slower transaction volumes and longer median days on market across several key islands. While some luxury enclaves surged ahead, others saw a pause in activity. The prevailing message is clear: well-positioned and accurately priced properties are still moving, while overpriced or overexposed listings face headwinds. In this evolving environment, buyers and sellers benefit immensely from the knowledge, negotiation skills, and regulatory insight of a licensed real estate agent in the Bahamas, whose role is increasingly vital in navigating a more discerning market.
It’s important to note that this report focuses on median sales price, which represents the middle point of all sales and helps reduce distortion caused by extremely high or low transactions. In contrast, average sales price (mean) reflects the total value of all properties sold divided by the number of sales. While median offers a clearer picture of typical property values, average price reveals the influence of large estate or luxury sales. Both figures are critical when analyzing market performance and setting strategy—especially in markets like the Bahamas, where one beachfront sale can shift the math dramatically.
Market Coverage Note
This report specifically focuses on the Islands of Abaco, Eleuthera, Exuma, Grand Bahama, Long Island, and New Providence. All data reflects activity related to single-family homes, condominiums, apartments, and half duplexes, unless otherwise stated. Other property types, such as vacant land or commercial real estate, are excluded from these figures unless explicitly noted. This focused scope allows for a more accurate and relevant analysis of the residential market across key Bahamian islands that Graham Real Estate has a presence in.
Bahamas (All Islands Combined)
The national market posted a Q1 2025 median sales price of $690,000, a major jump from $495,000 in Q4, marking a return to strength. However, closed sales dropped sharply from 167 to 83, and median days on market increased from 123 to 131, suggesting reduced transaction velocity even as prices climb. Active listings declined slightly to 882 from 909, tightening available supply.
From an average price standpoint, the Q1 2025 figure came in at $1,647,019, compared to $963,058 in Q4. This steep rise underscores that while the typical sale price (median) is up, several high-value transactions significantly lifted the average, indicating renewed activity in the luxury tier. This blend of mid-market energy and upper-end closings suggests a dynamic market where both savvy buyers and strategic sellers can succeed.
New Providence
The island continues to lead the national market with 49 properties sold and a median price of $850,000, up from $495,000 in Q4. Median DOM decreased slightly to 89 from 95.
The average sales price this quarter was $1,768,163, compared to $961,655 in Q4, showing strong luxury activity on top of the regular housing market. This blend cements New Providence as the most dynamic, reliable, and diverse real estate market in the country.
West Bay Street
A reliable performer, West Bay Street’s median price increased to $913,295, with median DOM improving slightly from 82 to 80.
The average price rose to $988,324, up from $717,072 in Q4, showing renewed demand for higher-end properties in this well-established corridor. The consistent pace of sales and rising values highlight buyer confidence in this western stretch of New Providence, where proximity to the beach, upscale communities, and daily conveniences create enduring appeal.
Cable Beach
Cable Beach had a solid quarter with 7 properties sold and a median price of $1.2 million, doubling the Q4 figure. Median DOM improved slightly from 80 to 77.
Average pricing rose to $1,593,750, compared to $823,071 last quarter, showing buyers are targeting premium condos, beachfront homes, and gated communities. Lifestyle and convenience remain powerful drivers here.
Eastern Road
Eastern Road posted a median price of $725,000, up from $625,000, with median days on market rising slightly from 35 to 43.
The average price was $1,018,571, up from $759,286, showing that even amid slower movement, the value of homes in this prestigious corridor continues to grow, reflecting strong location-driven demand.
Palm Cay & Port New Providence
This upscale segment had a quiet quarter with just 1 recorded sale, but the median price leaped to $2.6 million, up from $1.67 million. However, median days on market increased from 112 to 210, suggesting that while value remains high, buyers are taking more time.
The average matched the median at $2.6 million, compared to Q4’s $1,436,667, highlighting a sharp focus on premium listings and limited supply. Sellers here must remain patient, but the long-term upside is strong.
Abaco
In Abaco, the Q1 2025 median price jumped to $1,614,375, reflecting ongoing strength in the upper-tier market. However, sales dropped from 20 to 14 transactions, and median days on market increased from 161 to 203, indicating growing buyer hesitancy or tighter scrutiny of available listings.
The average sales price this quarter was $2,201,114, a dramatic rise from $1,200,897 in Q4, confirming the influence of ultra-luxury activity. Despite slower sales, this pricing suggests that high-net-worth individuals continue to see long-term value in Abaco’s waterfront and resort-linked properties.
Abaco Cays
The median sales price soared to $3,400,000, up from Q4’s already strong $1.24M. Nine homes were sold, compared to seven last quarter, showing rising confidence among high-net-worth buyers. However, median days on market increased slightly from 183 to 188, a reminder that even luxury properties can take time to move unless priced and positioned perfectly.
The average price came in at $2,658,745, also significantly above Q4’s $1,798,542, signaling that top-tier homes, not just outliers, are driving this surge. Sellers in this niche market are seeing clear rewards when presenting desirable properties with limited competition.
Treasure Cay
Treasure Cay saw a significant slowdown in activity, with only 3 properties sold, compared to 9 in Q4. The median price adjusted slightly down to $649,900, but median days on market spiked from 103 to 220, revealing softening buyer urgency.
Despite this, the average price this quarter was $1,911,633, well above the Q4 average of $1,113,111, indicating that although few properties sold, the ones that did were high-value. This duality reflects a market where ultra-prime listings are still transacting, while mid-range inventory waits for a buyer.
Eleuthera
With 6 properties sold, Eleuthera’s volume was modest but stable. The median price settled at $626,000, down from Q4’s $880,000, while median DOM improved significantly from 187 to 151. Active listings rose to 102 from 88, signaling renewed seller confidence.
The average price was $777,833, a meaningful decrease from Q4’s $1,742,000, further confirming that more mid-tier homes drove the sales this quarter. For buyers seeking access to Eleuthera without jumping into the luxury bracket, opportunities are increasing.
Spanish Wells & Harbour Island
This high-end submarket saw just 2 sales in Q1, down from 4. Median pricing dipped to $687,000, and median DOM remained flat at 162 days.
The average sales price was $2,650,000, down from $2,762,250 the previous quarter. Though volume is low, the value per transaction remains substantial, and even a small shift in ultra-premium activity can create waves in this exclusive area.
Exuma
Exuma posted a robust $3 million median sale price, up from $1.5 million, with 3 properties sold. Median days on market improved from 251 to 236, showing faster closings in the luxury space.
Average pricing came in at $2,650,000, slightly above the Q4 average of $1,480,000, solidifying Exuma’s position as a high-value destination for second homes, private estates, and resort-style developments.
Exuma Vacant Land
The median price fell to $17,750, reflecting either deeply discounted land deals or sales in remote areas. However, median days on market dropped dramatically from 173 to 70, and active listings were steady at 138.
The average sales price was $17,750, compared to $260,800 in Q4—a sharp drop indicating that larger or premium parcels likely didn’t trade hands this quarter. Still, the quick turnover hints at renewed interest in development plays or affordable entry points for future construction.
Grand Bahama
Grand Bahama saw 9 sales, and its median price rose to $280,000 from $212,500. Importantly, median DOM fell to 124 from 138, indicating better buyer engagement.
The average price was $550,000, up from $371,276 last quarter, suggesting that the properties being sold are moving higher on the quality or renovation scale. The trend is slow, but upward.
Long Island
Just 2 properties sold in Q1, but the median price jumped to $840,000, up from $312,000. More impressively, median DOM improved from 813 to 544—still high, but trending positively.
The average sales price was $840,000, compared to $312,000 in Q4. These numbers reflect high-value buyers entering a low-volume market, perhaps spurred by privacy, land availability, or boutique project potential.
Conclusion
Q1 2025 presents a market with diverging trends—strong pricing across luxury segments, but slower sales volumes and more cautious buyer behavior in some areas. The sharp increase in both median and average prices in many regions highlights the importance of understanding market layers: average prices tell us where the big money is going, while median figures show how the overall market is performing.
Now more than ever, the guidance of a trained and licensed real estate agent in the Bahamas is invaluable. Agents bring local expertise, ensure regulatory compliance, and understand pricing nuances that make the difference between a listing that lingers and one that sells. Whether you're entering or exiting the market, a trusted advisor helps you navigate today’s evolving conditions with confidence.
Disclaimer:
The data presented in this report is based on information available at the time of publication and may be subject to change due to updates or corrections to the MLS. For the most up-to-date and accurate information, please contact us directly. Investors are encouraged to conduct their own due diligence and consult with a qualified professional before making any financial or investment decisions.
