Los Cabos Residential Real Estate Market Report

Here are the numbers for the residential market (only condos and single family homes) from January 1 to October 31.

 

The good news is that the numbers of sales (closed transactions) for the first ten months has gone up by 11%. The bad news is that these numbers are only for properties under $1,000,000 US Dollars.

 

The total numbers of sales for all residential properties in all price ranges are down by a 4% to 310 transactions.

 

The total sales volume is down by 39% to $149,816,000 US Dollars.

 

Total numbers under contract are down a 5% to 325 transactions. The average sales price is down a 35% to $483,000 US Dollars.

 

Now let's see how the numbers look like for the condo and single family home market:

 

For the first ten months of 2015 the total number of closed transactions for condos is down by a 15% to 128 units. The total sales volume is down by 34% to $40,389,000 US Dollars. The average sales price is down a 22% to $316,000 US Dollars. The list to sales ratio is down by three points to 88%.

 

Closed transactions for single family homes are up by 6 percent to 182 units. The total sales volume is down by 40% to $109,427,000 US Dollars. The average sales price is also down by 44% to $601,000 US Dollars. The list of sale ratio is down three points to 87%.

 

These numbers reflect a lack of sales for properties above one Million US Dollars. Total numbers of closed sales for properties above $1,000,000 US Dollars is down a 53% to only 32 closed escrows. The total sales volume is down by 60% to 64,876,000 US Dollars. The average sales price is down by 16% to $2,027,000 US Dollars.

 

The market for properties below one Million US Dollars looks much better. The total numbers under contract went up by 7% to 284 accepted offers. Total units sold is up a 9% to 278 units and the total sales volume is up by 4% to $84,940,000 US Dollars.

 

If you would like to receive an update on a specific neighbourhood please let me know and I'm more then glad to provide you with the numbers.

Posted on November 2, 2015 at 6:46 pm
Martin Posch | Category: Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, Los Cabos Real Estate, Martin Posch, Mexico Real Eatate, Windermere Los Cabos | Tagged , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *