Continuing upward trend
Turks and Caicos Real Estate Association MLS Sales Volume Graph for the last three years shows a definite trend to market stabilization. Late 2013, early 2014 shows peaks and valley with August 2014 being at the lowest. From then onward there is an increase in volume, rising through the winter,spring and summer months with a dip in the fall. We are noting that the "busy" season is not just the high tourists months but is extended into the summer. Although we are still seeing major sales numbers being in January to April the peaks and valley scenario is leveling out somewhat.
Average Sell Price and Median Sell Price for the market overall is about 3 1/2 % up in 2016 from same period in 2015. Volume sold in dollars is up 6%, number of sold listings up 2 1/2 %. With this we have seen a dramatic 25% drop on average days on the market. Median List Price has increased by only 1.33%. These numbers are showing us that market is definitely healthy and, as yet, prices have not increased much.
As the supply and demand situation tightens up with less supply and higher demand we do expect to see some increase in list price. The majority of properties are selling with a 10% range of list price. This indicates that list price and market value are in sinc.
A great time to purchase or sell in Turks and Caicos