First of all the number for the Los Cabos Residential Real Estate Market Report for the first eight months are still stronger on accepted offers, closed deal and total sales volume. But the average sales price has been declining over the last few months.
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Here are the numbers for the Los Cabos Residential Real Estate Market Report (only condos and single family homes) from January 1 to August 31, 2017.
The total numbers of sales for all residential properties in all price ranges are up by a 17% to 304 transactions.
The total sales volume is up by a 13% to $187,589,000 US Dollars.
Total numbers of properties under contract are up by 35% to 387 contracts. The average sales price is down a 3% to $617,000 US Dollars.
Now let’s see how the numbers look like for the condo and single family home market:
From January 1, 2017 to August, 2017 the total number of closed transactions for condos is up by a 17% to 164 units. The total sales volume is up by 28% to $71,819,000 US Dollars. The average sales price is up 8% to $438,000 US Dollars. Finally the List Price to Sold Ratio in creased by 3 percentage points to 92%.
Single Family Homes
Closed transactions for single family homes for the same period are up by a 15% to 140 units. The total sales volume is up by 5% to $115,770,000 US Dollars. The average sales price is down by 8% to $827,000 US Dollars. Furthermore the List Price to Sold Ratio went up from 88% to 92%.
One Million plus Market
Total numbers of closed sales for properties above $1,000,000 US Dollars is up a 27% to 56 closed escrows. The total sales volume is up by 12% to $118,434,000 US Dollars. The average sales price is down 12% to $2,115,000 US Dollars.
Below Million Market
Properties below one Million US Dollars is starting to show conflicting numbers compared to the same period a year ago. Total number of sales and accepted offer are still up but the total sales volume has started to decrease. The total numbers under contract went up by 39% to 320 accepted offers. Total units sold is up a 12% to 248 units and the total sales volume is down by 1% to $69,155,000 US Dollars. The average sales price for condos and homes are down by 11% to $279,000 USD.
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