Seven months into 2013 and we can see that the market isstarting to turn around. There has been more activity then last year. Althoughwe at Windermere have received more offer then last year, the offers come invery low and it is almost impossible to close a deal. Many of my friends fromother companies have confirmed the same. Many buyers have the impression thatthey can offer way below asking price but they will have to realize that theseoffers won’t fly. The people that had to sell, sold their properties a whileback and the today’s seller want a fair market price for their properties.
The total sales volume from January 1 to July 31 onresidential properties (condos, homes and town houses) is up by 2% to $112,762,774 US Dollars. The average sales price is up 3.37% to $503,405 USDollars.
The condo market is lacking the 2012 sales. The total salesvolume is down a 21% to $27,377,036 US Dollars and the average sales price isdown a 16% to $279,358 US Dollars. The sold to list ratio is 89.6%. This numberhas been stable through 2013.
Sales for single-family homes are up by 13% to $85,385,738US Dollars. The average sales price is up by 10% to $677,665 US Dollars. Thesold to list ratio is 89.1%. This number is getting better and we are up fromthe low in the mid seventies.
There have been no sales reported on Town Houses in 2013.
This should be a sign that we have hit rock bottom here inLos Cabos and sales should increase steadily in the second have to 2013.
If you'd like to receive more details, please don't hesitate to contact me.