December 2024 Real Estate Highlights

Discover the Latest Listings, Market Trends, and Success Stories!

Properties Sold

47 properties

Prices Ranging

CI$35,000 US$4.275M

Current Listings

1429 properties

Land For Sale / Precon

445 / 283 properties

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MARKET SITUATION

It was a fairly-active November with 47 closings (down only 4 from last November). No big cuts in prices or deep discounts jump out either. There were a lot more properties going under contract in November than in October; a sign that the interest cut and US Election results are key factors to our economy and that overall we’re doing pretty good here in Cayman!

Our local government mess is a subject for another day but we see how it is affecting our local/residential sales a little bit, particularly for the $500,000 and under buyers getting financing. HOWEVER, bank rates are getting better as are the terms – that helps in getting our Caymanians and residents mortgages they can work with.


Hurricane Season is finally over (what a long one for us, geez!) and now it’s time to focus on the positive: A lovely month ahead full of great events, activities, sights and sounds to enjoy! Make the most of it all and may you all have a wonderful holiday season filled with the peace and love that the magic of Christmas and Hannukah bring to us all.

Here’s to a great December.

Christmas in Cayman

It truly is spectacular! From tree lightings, singing trees, church concerts, dining specials, elaborate house decorations, the Seven Mile Corridor lit up and much more, the festivities, weather and ambiance in Cayman this month are all just amazing.

Don’t miss any of it; check out these websites for all the fun:

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Real Estate Analysis

The projects underway are going to nicely; from North West Point to Grand Harbour, the reality of these complexes is coming to life. We suspect a few projects being announced or proposed will not come to fruition and there are number of reasons why. Price, location, saturation, etc…there are various circumstances in play that affect that. Right now, there are a slew of pre-construction or under-construction projects happening to keep our construction industry busy for a while. We’ll have to see what happens in the next year or so and we may see those projects in construction mode then.

Statistically, we are up in total sales from last year’s activity at the same time; prices are fairly steady and inventory remains about the same as it has been for most of the year: sitting at 1400 +/- available for sale.

Total sold January to November 2023: 652
Total sold January to November 2024: 802

Despite talks throughout 2024 that the market was slow and a recession loomed, we just didn’t see too much of that overall, other than the dip in the summer thanks to too many Hurricane scares and a critical US-election and interest rates. Again, I’ll say that prices were way too high in the covid-era and needed a correction and that’s all that we saw happen throughout 2024.