The condo market in Cayman has seen a decrease in time on sale year-on-year, a real estate firm has said.
Provenance Properties said the time taken to sell had dropped eight days from 162 days in the second quarter (Q2) last year to 154 days in the same period of 2025 – a 5% decrease.
The firm’s Ewe Cimring said, “The days on market lengthened modestly between Q1 and Q2, but compared to the same period last year, properties are actually selling a bit faster.”
She said the five-month increase in time to sell reported earlier between Q1 and Q2 2025 – a 65% jump – was mostly due to delayed closings on 32 pre-construction condos at the Arza development in West Bay and several at the Olea project in Camana Bay.
Cimring explained Provenance Property’s calculations used median measurements rather than mean calculations, unlike the figures earlier reports were based on, which relied on averages.
The median is the mid-point in a range of numbers and the mean is the average, found by adding all the figures in a range and dividing by the total of figures involved.
Cimring said said medians were less likely to be skewed by luxury properties, which could be on the market for years.
She added that pre-construction units were also excluded because they could “show extremely long days on market unrelated to resale market conditions”.
She said that seasonal factors made year-on-year figures more reliable than using consecutive quarters.
Cimring added Provenance Property’s calculations focused on condos only, which she said were “more representative of the real estate market”.
She said using Provenance’s parameters on the first two quarters of 2025 meant that the median average days to sell had increased by 26%, although the company would not compare successive quarters as a rule.
Cayman’s real estate market in traditionally more active during the winter months, when there are not only more visitors, but also more visitors who can afford properties on Grand Cayman.
Cimring said that, year to date, it took 122 days to sell a property for Q1 this year and 154 days for Q2 – an increase of about a month.
Earlier analysis of the first two quarters of the year showed that general property sales were up in Q2 in 2025 year-on-year, with Cayman seen as a refuge from international turmoil.
The country attracted “security refugees” and “financial refugees” who saw the country as a safe haven.
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