One of the most asked questions today, and probably most days. “How is the real estate market on the island?” If I had to pick a word, I would say very active. At Island Dreams we are all busier than ever and December through February have been record setting for sales for us. Talking to some of the other key brokers on the island, they concur. One major Broker said he has had the biggest and busiest January ever!
Just about everything is selling. We’ve sold warehouses, raw acreage, condos and Villas. So it is pretty much everything. Selling prices are a little sharper than normal as Buyers seem to be a bit more aggressive with their initial offers due to Covid and also still Hurricane Irma damage. However a lot of that deep discounted inventory is drying up, if not dried up. There are many well priced listings that will sell as well, with Sellers hopes that a Sellers market is approaching. No one ever knows the bottom or the top. That is only found well after the fact. All we can assert is that now is a great time to buy as prices have not yet inflated to what a hot market would dictate. With all the activity, some seem to think it is only natural current inventory will deplete and prices will rise. Basic economics as Buyers start to travel more to Caribbean in search of their Dream property.
Our advise is if you were thinking of a move, do it now. Whether it is SXM or any other Caribbean island. Don’t ever put your dreams on hold.
Life is way too short for that procrastination.