Los Cabos Residential Market Report

On my last report I thought that our market is recovering slowly. Unfortunately the numbers for the first seven months are way off from last year.
 
Here are the numbers for the residential market (Only condos and single family homes).
 
The good news is that the numbers of sales (closed transactions) for the first seven months has gone up by a 10%. 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 6% to 224 transactions.
 
The total sales volume is down by 52% to $88,456,852 US Dollars.
 
Total numbers under contract are down a 10% to 262 transactions. The average sales price is down a 49% to $395,000 US Dollars.
 
Now let's see how the numbers look like for the condo and single family home market:
 
The first seven months of 2015 the total number of closed transactions for condos is down by a 24% to 93 units. The total sales volume is down by 40% to $30,747,000 US Dollars. The average sales price is down a 21% to $331,000 US Dollars. The list to sales ratio is down by three points to 88%.
 
Closed transactions for single family homes is up by 13% to 131 units. The total sales volume is down by 56% to $57,710,000 US Dollars. The average sales price is also down by 61% to $441,000 US Dollars. The list of sale ratio is down five points to 85%.
 
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 65% to only 17 closed escrows. The total sales volume is down by 81% to 23,803,000 US Dollars. The average sales price is down by 46% to $1,400,000 US Dollars.
 
The market for properties below one Million US Dollars looks much better. Total numbers under contract went up by 6% or 232 accepted offers. Total units sold is up a 10% to 208 units and the total sales volume is up by 11% to $65,239,000 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. For more info click here 

Posted on August 18, 2015 at 11:48 am
Martin Posch | Posted in Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, Los Cabos Real Estate, Mexico Real Eatate, Windermere Los Cabos | Tagged , , , , , , ,

Los Cabos Residential Market Report

The residential real estate market is recovering slowly here in Los Cabos. All the numbers are compared to the first five months of 2014.

 

The good news is that the numbers of sales (closed transactions) for the first five months has gone up a 4% to 167 transactions.

 

The total sales volume is down by 37% to $68.272.000 US Dollars.

 

Total numbers under contract are down a 40% to 129 transactions. The average sales price is down a 39% to $409,000 US Dollars.

 

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

 

The first five months of 2015 the total number of closed transactions for condos is down by a 21% to 71 units. The total sales volume is down by 30% to $25,230,000 US Dollars. The average sales price is down a 12% to $355,000 US Dollars. The list to sales ratio is up by one point to 91%.

 

Closed transactions for single family homes is up by 35% to 96 units. The total sales volume is down by 40% to 43,042,000 US Dollars. The average sales price is also down by 55% to $448,000 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 52% to only 14 closed escrows. The total sales volume is down by 72% to 19,578,000 US Dollars. The average sales price is down by 42% to $1,398,000 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 June 1, 2015 at 2:32 pm
Martin Posch | Posted in 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 , , , , , , ,

Reopening Schedule for Los Cabos Hotels

Most of the hotels here in Los Cabos have reopened their doors. Here is a list of hotels that are scheduled to reopen in the future. 

Las Ventanas al Paraiso, a Rosewood Resort will open in a few days on June 4. The Hilton Los Cabos, is set to reopen on July 1 as will the brand-new Cape, a Thompson Hotel. We are very excited to have the Thompson Brand opening their first hotel in Mexico. 

If you are planning to stay in a Hyatt hotel here in Los Cabos. You still need to wait a little bit longer. The Hyatt Place and Hyatt Ziva will reopen on July 15 and August 15, respectively. Cabo Azul Resort and Spa is aiming for a September 30 reopening while Casa Del MarEl GanzoDreams Los Cabos: and ME Cabo will take until October 1. The JW Marriott will open their doors in October in Puerto Los Cabos. The Melia Cabo Real will need a little bit more time–until November 30.

But it will be much longer for the Westin Resort & Spa which is aiming for a March 2016 reopening. 

Still, even after all the hotels reopen, there will more hotel action for Cabo as the Nobu Hotel Los Cabos is expected to open in 2017.


Posted on June 1, 2015 at 2:04 pm
Martin Posch | Posted in 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 , , , , , , ,

Los Cabos Residential Market Report

The number of sales (closed transactions) for residential real estate has increased a 7% to 130 transaction in the first four months of 2015. Residential listings under contract decreased a 46% to 96 units.

 

The total sales volume from January 1 to April 30, 2015 on residential properties (condos & houses) is down by a 35 percent to $52,351,000 US Dollars. The average sales price is down by 40 percent to $403,000 US Dollars.

 

The condo market has suffered a little bit more then the single family homes market.The total sales volume is down by 27 percent to $20,034,000 US Dollars and the average sales price is down by 8 percent to $371,000 US Dollars.

 

Total sales for single-family homes are down by 39 percent to $32,316,000 US Dollars. The average sales price is down by 57 percent to $425,000 US Dollars.

 

The percentage of list to sold price for condos are stable at 89 percent and for single family homes decreased by two percentage point to 87%.

 

Specially the higher end market is suffering with most of the luxury high end hotels still under renovation. The lack of the highend buyer is pushing the average sales price down. With the Palmilla One&Only open we should be seeing an increase in the high end sales.

 

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 May 26, 2015 at 1:24 pm
Martin Posch | Posted in 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 , , , , , , ,

The New York Times Spends 36 Hours in Los Cabos


Posted on April 6, 2015 at 1:46 pm
Martin Posch | Posted in 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 , , , , , ,

Los Cabos Residential Real Estate February 2015

The number of sales (closed transactions) for residential real estate has decreased an 8% in the first two months of 2015. Residential listings under contract decreased a 69%

 

The total sales volume from January 1 to February 28, 2015 on residential properties (condos & houses) is down by a 38 percent to $15,793,000 US Dollars. The average sales price is down by 32 percent to $336,000 US Dollars. The total number of sales is down by a 8 percent to 47 units.

 

The condo market has suffered the most.The total sales volume is down by 58 percent to $4,997,000 US Dollars and the average sales price is down by 29 percent to $429,000 US Dollars.

 

Total sales for single-family homes are down by 18 percent to $10,796,000 US Dollars. The average sales price is down by 41 percent to $386,000 US Dollars.

 

The percentage of list to sold price for condos went up by 2% from 89% to 91% and for single family homes it increased by one percentage point to 90%.

 

Specially the higher end market is suffering with most of the luxury high end hotels still under renovation. The lack of the high end buyer is pushing the average sales price down.

 

 

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 March 3, 2015 at 12:36 pm
Martin Posch | Posted in 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 , , , , , , ,

Casa Delia, Puerto Los Cabos


Posted on February 9, 2015 at 7:07 pm
Martin Posch | Posted in 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 , , , , , , ,

Los Cabos Residential Real Estate January 2015

The number of sales for residential real estate has decreased in January 2015. Residential listings under contract decreased a staggering 70%

 

The total sales volume from January 1 to January 31, 2015 on residential properties (condos & houses) is down by a 26 percent to $7,516,000 US Dollars. The average sales price is down by 10 percent to $327,000 US Dollars. The total number of sales is down by a 18 percent to 23 units.

 

The condo market has suffered the most.The total sales volume is down by 60 percent to $2,424,000 US Dollars and the average sales price is down by 20 percent to $269,000 US Dollars.

 

Sales for single-family homes are surprisingly up by 25 percent to $5,092,000 US Dollars. The average sales price is down by 10 percent to $364,000 US Dollars.

 

There have only been two new listings on the market and that is a decrease of 94% compared to the same period last year.

 

The percentage of list to sold price for condos haven't changed at 89% and for single family homes it decreased slightly from 89% – 88%.

 

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 February 2, 2015 at 2:57 pm
Martin Posch | Posted in Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, Los Cabos Real Estate, Mexico Real Eatate, Windermere Los Cabos | Tagged , , , , , ,

Los Cabos Residential Real Estate 2014

The number of sales for residential real estate has increased in 2014. Residential listings under contract have increase by 11%.

 

The total sales volume from January 1 to December 31, 2014 on residential properties (condos & houses) is up by a 30 percent to $264,777,000 US Dollars. The average sales price is up by 13 percent to $746,000 US Dollars. The total number of sales is up by a 15 percent to 355 units.

 

The condo market is starting to develop nicely compared to 2013. The total sales volume is up a 49 percent to $63,595,000 US Dollars and the average sales price is up by a 20 percent to $393,000 US Dollars.

 

Sales for single-family homes are up by 24 percent to $201,182,000 US Dollars. The average sales price is up by 15 percent to $1,042,000 US Dollars.

 

Although activities have slowed down significantly due to hurricane Odile but it has been picking up and I'm looking forward to a great 2015. By March, the hotel rooms should be back to almost 100% and most of the flights will be back to the normal schedule. Pending sales in 2014 are up by 11 percent so that makes me believe that we have hit bottom and we will see prices stabilise.

 

The percentage of list to sold price for condos has decreased from 91% to 90% and for single family homes it increased from 87 – 90%.

 

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 8, 2015 at 2:26 pm
Martin Posch | Posted in 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 , , , , , , ,

Los Cabos Residential Market Report October 2014

The number of sales for residential real estate has increased in the first five months of 2014. Residential listings under contract have increase by 21%.

 

The total sales volume from January 1 to October 31, 2014 on residential properties (condos & houses) is up by a 21 percent to $249,215,000 US Dollars. The average sales price is up by 21 percent to $681,000 US Dollars. The total number of sales is up by a 14 percent.

 

The condo market is starting to develop nicely compared to 2013. The total sales volume is up a 46 percent to $42,372,000 US Dollars and the average sales price is up by a 18 percent to $369,000 US Dollars.

 

Sales for single-family homes are up by 34 percent to $187,153,000 US Dollars. The average sales price is up by 26 percent to $945,000 US Dollars.

 

Although activities have slowed down significantly due to hurricane Odile, I think we will still have a great season going into 2015. By then the hotel rooms should be back to about 90% and most of the flights will be back to the normal schedule. But it will be a slow recovery. Pending sales are up a 24 percent so that makes me believe that we have hit bottom and we will see prices stabilise.

 

The percentage of list to sold price for condos has raised from 90 – 92% and for single family homes from 88 – 90%.

 

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 4, 2014 at 12:06 pm
Martin Posch | Posted in 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 , , , , , , ,