Here are the numbers for the Los Cabos residential real estate market report (only condos and single family homes) from January 1 until December 31, 2016.
As I mentioned in my introduction, the market has started to recover and even the condo market has surpassed the 2015 numbers. .
The total numbers of sales for all residential properties in all price ranges are up by a 17% to 370 transactions.
The total sales volume is up by a 56% to $239,829,000 US Dollars.
Total numbers of properties under contract are up by 29% to 418 contracts. The average sales price is up a 33% to $648,000 US Dollars.
Now let’s see how the numbers look like for the condo and single family home market:
For 2016 the total number of closed transactions for condos is up by a 29% to 199 units. The total sales volume is up by 48% to $73,369,000 US Dollars. The average sales price is up a 14% to $369,000 US Dollars.
Closed transactions for single family homes are up by a 4% to 171 units. The total sales volume is up by 59% to $166,462,000 US Dollars. The average sales price is also up by 51% to $973,000 US Dollars.
These numbers reflect a steep increase. Total numbers of closed sales for properties above $1,000,000 US Dollars is up a 69% to 59 closed escrows. The total sales volume is up by 111% to $144,725,000 US Dollars. The average sales price is up by 25% to $2,453,000 US Dollars.
The market for properties below one Million US Dollars looks different. The total numbers under contract went up by 21% to 345 accepted offers. Total units sold is up a 10% to 311units and the total sales volume is up 11% to $95,105,000 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 a more specific Los Cabos Residential Real Estate Market Report.
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