Real Estate in Cabo Residential Market Report – July 2018

Real estate in Cabo has been extremely quiet this summer. Activities (showings) have dropped a lot and it has been very quiet. The numbers of pending sales and close sales confirm that lack of activity. So let’s have a look how the market has performed since January 1st, 2018,

The Real Estate in Cabo Market Report includes only sales of single family homes and condos from Cabo San Lucas to San Jose del Cabo. It doesn’t include any sales on the Pacific side to Todos Santos nor the East Cape to Los Barriles.

Overall we have seen a decline in pending and closed sales. Properties under contract have declined a 10% to 298 accepted offers. Closed sales have declined a 12% to 236 closed condos and houses. And the total sales volume has gone down an 18% to $130,557,000 USD. The average sales price went down to $553,000 US Dollars which is a 7% decline. However the median sales price has actually increase by 3% to $282,000 US Dollars.

Let’s have a look how the numbers have developed for Condos in Cabo.

Condos under contract have gone down only a 1% to 176 units. Number of condos sold so far this year is down by 13% or 130 units. The total sales volume has decreased only a 2% to $62,964,000 USD. But the average sales price is up by 12% to $484,000 USD and the median sales price has increased to $268,000 USD which is a 10% raise. The percentage of list to sold price is steady at 92%.

The numbers for Houses in Cabo are the following:

Houses under contract have decreased a 20% to only 122 units. Closed and sold houses went down to 106 units from 117 a year ago. This represents a decline of 9%. The total sales volume decreased by over $26.4 million US Dollars to $67,593,000 USD. This is a reduction of 28%. Both average sales price ($553,000 USD) and median price ($328,000 USD) decreased a 20% and 6% respectively. The percentage of list to sold ratio decreased to 90% from 92% a year earlier.

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Total Active Listings

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New Listings

 

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Listings under contract

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Total Sold Volume

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Median Sales Price in Cabo

Don’t hesitate con contact me if you have any questions or doubts.

martinposch@windermere.com

(877) 855-2226 US toll free

+521 (624) 147-5857 Mexican Cell Phone

Posted on August 21, 2018 at 3:57 pm
Martin Posch | Category: Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Condos in Cabo, Houses in Cabo, Los Cabos Real Estate, Market Report, Martin Posch, Mexico Real Eatate, Real Estate in Cabo, Windermere Los Cabos | Tagged , , , , , , ,

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