"A dollar short and a day late". What was that saying for? Rent? Well, I'm not a dollar short, but I AM a couple of days late in posting this information about the Utila & Roatan Market Summary for the last year, compared to the previous year.
First, I'd like to point out something about Utila and Roatan. Potential life-changers often contact me several months in advance of visiting Utila and Roatan for the first time. They have usually seen the episodes on HGTV, and have heard wonderful things about the Bay Islands and the affordable real estate. All of them are true! However there is a difference between Utila and Roatan.
Having had a dive center here and having more than 15,000 divers and travellers go through our dive center over the years, I have some pretty good first-hand data from asking people which island they prefer: Utila or Roatan. It's common knowledge for those that live here, that most people are either "Roatan People" or "Utila People".
If you're looking for laid-back & easy, cozy & quaint; then Utila is your island. If you're looking for amenities and services, then you might prefer Roatan. If you want the benefits of a small population and a small-town feel, then Utila is your choice. If you love the beauty of a Caribbean island, but can't quite leave the city life, then you might prefer Roatan. There are many franchises on Roatan, whereas there is only one chicken supplier franchise here on Utila... and even then, most prefer to purchase their chickens from the local meat supplier here on the island. We even put advance orders in for the chickens which are stronger, happier, free-running chickens! And then we have to wait for them to grow!
Roatan is often named in the top three islands for Retiring (islands.com), visiting (TripAdvisor) and other various other destination awards. Utila is lesser known, and frankly that's probably why it still has a wonderful, magical charm about it, that all those living in Utila love!
So, my point is that you're usually either an Utila person or a Roatan person. And with that in mind, let us proceed to the data:
You can see that the trends for real estate growth are pretty straight forward in that the combined percentage growth, the green line at the bottom, labelled Grand Totals, has a 106% growth from year ending August 24, 2014, compared with the year ending August 24, 2015. That's more than double, even considering the decline in certain property sales in some areas in Roatan.
The chart is split into columns where the first set of numbers are for listings, or properties that have been put up for sale, Total Active. As the market grows, more people are putting their properties up for sale. On an island, there is only so much inventory, and moreso in Utila.
The second set of numbers is for the Numbers Sold. That's usually the data which interests most people. A growth of 106%, remember that means more than doubling the number of properties sold from this year compared to last! So the bottom line is, the same message all around the Bay Islands of Honduras... better get here quick! And yes there has been more property bought and sold in Utila, however, we are just beginning to use the MLS which is what this data is based upon.
If you would like other information from this database, please feel free to comment here, or email me. I will mine the data for you as you like, if I can. Meanwhile, enjoy life!
To better serve retirees & those seeking a slower pace of life in the Caribbean, I became the First and Only Accredited Buyer's Representative in the country of Honduras. This means you can be assured of the best representation of your real estate needs, like no one else can.