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 December 31.

As I mentioned in my introduction, the market has not recovered yet from Hurricane Odile.

The total numbers of sales for all residential properties in all price ranges are down by a 2% to 367 transactions.

The total sales volume is down by 30% to $192,332,000 US Dollars.

Total numbers under contract are down a 19% to 298 contracts. The average sales price is down a 28% to $524,000 US Dollars.

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

For the entire year of 2015 the total number of closed transactions for condos is down by a 15% to 131 units. The total sales volume is down by 24% to $50,918,000 US Dollars. The average sales price is down a 15% to $329,000 US Dollars. The list to sales ratio is down by three points to 88%.

Closed transactions for single family homes are up by 4% to 212 units. The total sales volume is down by 31% to $141,414,000 US Dollars. The average sales price is also down by 34% to $667,000 US Dollars. The list of sale ratio is down two points to 88%.

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 40% to only 47 closed escrows. The total sales volume is down by 49% to $91,581,000 US Dollars. The average sales price is down by 15% to $1,949,000 US Dollars.

The market for properties below one Million US Dollars looks much better. The total numbers under contract went up by 9% to 330 accepted offers. Total units sold is up a 7% to 320 units and the total sales volume is up by 4% to $100,751,000 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 January 11, 2016 at 10:49 am
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Your email address will not be published.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 *