As of August 2, 2017 compared to the same period last year, homesite sales on the MLS have gone up 500%!
If you have been thinking about purchasing property in Utila, please don't wait too much longer. Lower inventory always means increased prices, whereas now it is a Buyer's Market. The statistics mean that this may be changing very soon.
For the same period to date, in comparison with the same period last year, the sales volume has doubled. How can that be? It means that although the homesite sales have increased by 500%, what is selling is more affordable properties, just doubling the actual volume, or the amount of U.S. Dollars spent.
International currencies also have a lot to do with Utila real estate sales. If the value of the British pound, or the Canadian dollar, is low with respect to the American dollar, then chances are that those Sellers are willing to take a lower sales price because the currency exchange will more than make up for it.
For example, at the beginning of this year, the US dollar was $1.39 per one Canadian dollar. In these past few months that has gone down to $1.21 per Canadian dollar. That means a $100,000 property would have yielded $139,000 Canadian, whereas now it's only $121,000 Canadian.
In any case, no matter where you are from, if you were thinking of investing in Utila, you might want to get your ducks in a row.
If you want any more stats, feel free to contact me.