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.