Here is the Los Cabos residential real estate market report (only condos and single family homes) from September 1, 2017 to February 28, 2018.
The total numbers of sales for all residential properties in all price ranges were down by a 2% to 181 transactions.
The total sales volume was up by a 2% to $131,594,000 US Dollars.
Total numbers of properties under contract is down by 7% to 205 contracts. Due to a higher sales volume the average sales price was up 4% to $727,000 US Dollars.
Now let’s see how the numbers look like for the condo and single family home market:
From September 1, 2017 to end of February, 2018 the total number of closed transactions for condos were down by 14% to 94 units. While the total number of sales were down the total sales volume was up by 7% to $51,680,000 US Dollars. Due to the higher sales volume the average sales price was up from $438,000 to $550,000 US Dollars.
Closed transactions for single family homes for the same period were up by a 16% to 87 units. The total sales volume was down by 1% to $79,914,000 US Dollars. Because of the lower volume the average sales price was down by 14% to $919,000 US Dollars.
One Million plus Market
Total numbers of closed sales for properties above $1,000,000 US Dollars were down 13% to 33 closed escrows. As a result the total sales volume was down by 6% to $85,235,000 US Dollars. The average sales price was up 9% to $2,583,000 US Dollars.
Below One Million Market
The market for properties below one Million US Dollars recovered and showed positive numbers. Therefore the numbers of sales and the total sales volume was up as well. The total numbers under contract went down by 1% to 182 accepted offers.Total units sold were up by 1% to 148 units and the total sales volume was up by 20% to $46,359,000 USD. The average sales price for condos and homes was up by 19% to $313,000 USD.
As a result of the negative news in 2017 I do anticipate a challenging year for real estate in 2018.
If you would like to receive a Residential Real Estate Market Report on a specific neighborhood,please let me know and I’m more then glad to provide you with the numbers.