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 | 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 , , , , , , ,

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