2025-11-22 · Market

How to price a condo in a slow week

When enquiry slows down, the first reflex is usually to cut the price. In Cayman’s condo market, that can be a costly overreaction. A slow week often says more about seasonality, flights, or global headlines than the true value of your unit.

Start with real data, not guesswork. Look at closed sales in your building and neighbouring complexes over the last 3–6 months. Match like-for-like: same stretch (Seven Mile, West Bay, South Sound, George Town), similar floor level, view, age of construction, and whether the strata is short term, long term, or mixed-use. A renovated oceanfront unit in a well-managed strata can justify a firmer asking price than an older, dated canal-front condo that needs work.

Think of your price as a tight band, not a dart throw:

• Anchor within 1–3% of recent realistic comps so your condo lands in the “fair” or “good value” range on buyers’ shortlists.
• Track days-on-market: if comparable units are moving in 30–45 days and you are past 60, a focused CI$5–15K adjustment is smarter than a big discount that spooks buyers.
• Reduce friction: have strata minutes, insurance details, recent AC and appliance service records, and rental history ready so serious buyers can move quickly.

Presentation matters as much as price in a slow week. Fresh paint, clean grout, decluttered rooms, and professional photos can easily create the perception of 3–5% more value compared to tired listings. In a small market like Cayman, where buyers often watch the same listings for weeks, a sharp price and a “ready to go” condo signal confidence instead of desperation.

Price with discipline, not emotion, and a slow week becomes a negotiating edge instead of a reason to panic.

Posted: 2025-11-22