Bermuda · closed-sale record
Sixteen years of Bermuda closing prices — and a band built from them.
Bermuda keeps no public register of closed sale prices and publishes no house-price index. What exists is the year-end average of registered closings that the island's two largest brokerages print, plus the transaction counts behind them. Every figure here is one of those printed numbers, dated and sourced, from 2011 to 2025. A separate ValueAtlas extension uses the earlier workbook’s dates — completion 11 September 2026, exit 11 September 2036 — and is not the latest Astra report’s forecast.
What the record says
$1,195,000 → $1,000,000 · -1.26% a year over 14 years
Peak was $1,230,000 in 2015
$6.00M both years — 9 years, no printed appreciation
-33% vs a 450-sale balanced market
The general-market series splices printed single-family averages with printed island-wide mainstream averages, using only years a firm actually published a number. Nothing between those years is interpolated.
Every printed closing average, 2011–2025
Solid dots are figures a brokerage printed. Hollow dots are levels implied arithmetically by a printed year-over-year change. Missing years are missing because nobody published an island-wide average for them.
The volume behind those prices
Bars are the firms' final transaction estimates; the horizontal tick is the lower count actually registered when the report was written, a six-month to two-year lag. Bermuda has not seen a balanced-market year in this record.
The band: 11 September 2026 → 11 September 2036
The earlier Astra workbook values the purchase at 11 September 2026 and runs the exit exactly ten years later, 11 September 2036. Three growth bases are available: the measured -1.26% a year the printed record actually delivered, the legacy workbook’s Bear / Base / Bull cases, and the midpoint of the two. Every exit below lands on the anniversary of Astra's completion date, not an abstract year ten.
| Case | Growth a year | Ask at Sep 2026 | Gross at Sep 2031 | Gross at Sep 2036 | Total change to Sep 2036 |
|---|---|---|---|---|---|
| bear | -2.63% | $5.85M | $5.12M | $4.48M | -23% |
| base | +0.37% | $5.85M | $5.96M | $6.07M | +4% |
| bull | +2.37% | $5.85M | $6.58M | $7.39M | +26% |
Scenarios spread around each basis using Astra's own gap between its Bear, Base and Bull cases, so the dispersion is the workbook's, not an invented one. Source: Astra 6 purchase model · 11 September 2026 · holding period 10 years.
This is the uncomfortable part. On the printed record alone, the Bermuda general market delivered -1.26% a year for 14 years and the luxury average was the same $6.00M in 2021 as in 2012. Astra's +2% base case is therefore already more generous than sixteen years of closings support, which is why the case study's verdict stays where it is.
Every record, with its source
| Year | Segment | Average closing price | Basis | What was printed |
|---|---|---|---|---|
| 2010 | Condominiums | $563,000 | derived | Implied by the printed 2011 average of $473,000 and the printed 16% year-over-year fall. |
| 2010 | Single-family homes | $1,270,000 | derived | Rego SIR printed the 2011 average for homes under $153,000 ARV as "just under $1.2 million" after a 6% fall from 2010; the 2010 level is the arithmetic implication of that printed change, not a separately printed figure. |
| 2011 | Condominiums | $473,000 | reported | Condominiums under $32,400 ARV, down 16% on 2010 on just 18 recorded sales. |
| 2011 | Single-family homes | $1,195,000 | reported | Homes under $153,000 ARV: "just under $1.2 million", down 6% on 2010, on 66 recorded sales — a 38% volume collapse. |
| 2012 | Condominiums | $650,000 | reported | Island-wide calendar-2012 condominium average, which the firm called comparable to 2003–04 prices. |
| 2012 | Entry condominiums | $387,000 | reported | Condominiums under $32,400 ARV, down from about $670,000 in 2008 — a 42% peak-to-trough fall in the entry segment. |
| 2012 | Land | $500,000 | reported | Island-wide 2012 land average, described as close to 2004 levels. |
| 2012 | Luxury residential | $6,000,000 | reported | Luxury average rose from about $5M in 2008 to about $6M in 2012, median $4.1M to $4.8M — on seven closed luxury sales to non-Bermudians, against 17 in 2008. Price held; liquidity did not. |
| 2012 | Single-family homes | $1,100,000 | reported | Homes under $153,000 ARV: average about $1.1M, median about $940,000, against $1.25M average and $1.15M median in 2008. The cycle low. |
| 2013 | Mainstream residential | $1,100,000 | reported | "Average property prices have maintained consistency when compared over the last two years with the average hovering around $1,100,000." Pembroke and Paget led 2013. |
| 2014 | Mainstream residential | $1,100,000 | reported | Same $1.1M island-wide average, on registered sales; single-family rose to 40% of transactions from 26% in 2013, and Warwick led the parish table. |
| 2015 | Condominiums | $590,000 | reported | Coldwell Banker Bermuda Realty, Jul 2015 sales update |
| 2015 | Single-family homes | $1,230,000 | reported | Average of single-family homes sold and registered in Government records; single-family was 28% of sales. |
| 2016 | Condominiums | $681,000 | reported | Coldwell Banker Bermuda Realty, Jan 2017 market update |
| 2016 | Land | $366,000 | reported | Coldwell Banker Bermuda Realty, Jan 2017 market update |
| 2016 | Single-family homes | $1,207,000 | reported | Full-year average of sold single-family dwellings registered in Government records. |
| 2017 | Condominiums | $650,000 | reported | "The average price of condominiums sold in 2017 continued to decrease to around $650,000." Condominiums were 26% of closed sales and about 40% of buyers paid cash. |
| 2020 | Entry condominiums | $248,000 | derived | Derived from Rego SIR 2021 review (+30% to $322,000) |
| 2020 | Land | $331,000 | reported | Rego SIR, Bermuda Real Estate Market 2021 Review |
| 2020 | Mainstream residential | $874,000 | derived | Rego SIR printed the 2021 average and the year-over-year change; the 2020 level is the arithmetic implication, not a separately printed figure. |
| 2021 | Entry condominiums | $322,000 | reported | Condominiums under ARV $25,800, +30% on 2020. |
| 2021 | Land | $1,000,000 | reported | Lifted above $1M from $331,000 in 2020 by the Riddell's Bay estate lots — a one-off mix shift, not a market-wide trebling. |
| 2021 | Luxury residential | $6,000,000 | reported | Luxury residential average in the strongest year on record for the segment — the same $6M level printed for 2012. Nine years, no luxury appreciation. |
| 2021 | Mainstream residential | $1,023,000 | reported | Non-luxury residential average sale price, +17% on 2020 — the pandemic-era peak of the mainstream market. |
| 2025 | Mainstream residential | $1,000,000 | reported | "Bermuda's residential real estate market continues to hover around an average home price of $1 million." Single-family sweet spot $1.05M–$2.5M; condos $500K–$850K+. |
Transaction counts, year by year
| Year | Registered when printed | Firm's final estimate | Vs balanced market | What was printed |
|---|---|---|---|---|
| 2010 | — | 292 | -35% | Transactions ran about 50% below the 584-a-year average of the 2000–2008 peak, which is where the 292 figure comes from. 355 properties were listed at an average 328 days on market. |
| 2012 | — | 200 | -56% | "Last year there were approximately 200 transactions." The cycle floor, against 650 island-wide in 2001. |
| 2015 | — | 300 | -33% | First year in five that transactions cleared 300, after three consecutive annual increases. |
| 2016 | 218 | 300 | -33% | 218 closings counted with roughly a six-month registry lag; the firm expected the final total near 300. |
| 2019 | — | 200 | -56% | "May be around 200 for 2019, which mirrors the results for 2012." 153 condos and 74 homes listed, average days on market beyond 470 in both. |
| 2024 | 204 | 300 | -33% | 204 registry sales; the agency manager put the true number nearer 300. Includes land, commercial, multi-family, condos, voluntary conveyances and fractional sales. |
What this record is — and is not
- Bermuda publishes no register of closed sale prices and no house-price index. Every price on this page is a brokerage year-end average of registered closings, not a government statistic.
- Averages are unweighted and mix-sensitive: the 2021 land average trebled purely because the Riddell's Bay estate lots closed that year, and 2014's single-family share jumped from 26% to 40% of sales.
- Registry lag runs six months to two years, so a year's recorded count is always below the eventual total. Where a firm printed both, this page shows both.
- Coverage is uneven. 2018, 2019, 2022, 2023 and 2024 have printed volumes or commentary but no printed island-wide average sale price, so those years carry no price point here.
- Segment definitions changed: Rego SIR reported by ARV band (under $153,000 ARV homes, under $32,400 ARV condos) while Coldwell Banker reported by property type. They are not perfectly splice-able.
- Only mainstream and single-family rows feed the growth rate below. Luxury has two printed points nine years apart and cannot support a trend.
Sources
- Royal Gazette · "Properties taking one year or longer to sell as prices tumble" (Jan 2012) ↗
- Royal Gazette · "Realtor: average condo price falls to around $387,000" (Jan 2013) ↗
- Coldwell Banker Bermuda Realty · Sales Market Update, Jul 2013 (2012 averages) ↗
- Coldwell Banker Bermuda Realty · 2014 Market Report (2013–14 averages, parish mix) ↗
- Coldwell Banker Bermuda Realty · Jan 2017 market update (2016 averages, registry lag) ↗
- Coldwell Banker Bermuda Realty · Sales Market Update, Jan 2018 (2017 condo average) ↗
- Coldwell Banker Bermuda Realty · Jan 2020 update (2019 volumes, 470+ days on market) ↗
- Rego SIR · Bermuda Real Estate Market 2021 Review ↗
- Royal Gazette · "Cost of average Bermuda home is $1m" (May 2025) ↗