Residential Real Estate Market Report

This year our residential real estate market has started slower then anticipated. Here are the numbers for condos and single family homes from January 1 until March 31, 2018. Here is the residential real estate market report for the first 90 days.

Cabo San Lucas, B.C.S.

Hacienda Beach Resort and Residences

The numbers of closed sales are down a 14% to 84 closed transaction so far this year and the total sales volume is down by 23% to $41,914,000 US Dollars. That represents a decline of 23% for the first 90 days of the year.

Pending transactions are also down a 13% to 125 accepted offers so far this year. That will also reflect in the future with a lower number of closed transactions.

Now let’s see how the numbers look like for the condo and single family home market:

From the beginning of 2018 to the end of March, 2018 the total number of closed transactions for condos were down by 37% to 34 units. The total sales volume was down by 18% to $18,666,000 US Dollars. The average sales price was surprisingly up from $378,000 to $490,000 US Dollars. That is an increase of 29%. The median sales price for condos is also up by 24% to $230,000 US Dollars.

The single family market did a bit better then the condo market. The total number of closed transactions is up by 13%, while the total sales volume is down to $25,249,000 USD. That represents a decrease of 25% compared to the same period last year. The average sales price is also down a staggering 34% to $505,000 USD.

Total numbers of closed sales for properties above $1,000,000 US Dollars were down 68% to 6 closed escrows. The total sales volume was down by 51% to $18,015,000 US Dollars. The average sales price was up 55% to $3,003,000 US Dollars. Obviously with such a low number of closed sales the average sales price varies a lot. But even the median sales price for million plus condos and homes is up by 13% to $2,368,000 USD.

The market for properties below one Million US Dollars is much better then the million plus market. Although the total number of sales are down but not as much as the million plus market. The total numbers under contract went down by 7% to 109 accepted offers. Total units sold were down by 6% to 74 units and the total sales volume was up by 23% to $21,880,000 USD. The average sales price for condos and homes was up by 31% to $296,000 USD.

If you would like to receive an update on a specific residential real estate market report for a neighborhood, please let me know and I’m more then glad to provide you with the numbers.

 

Posted on April 16, 2018 at 6:15 pm
Martin Posch | Category: Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, 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 , , , , , , , , ,

Residential Real Estate Market Report

Here is the Los Cabos residential real estate market report (only condos and single family homes) from September 1, 2017 to February 28, 2018.

Real Estate in Cabo

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:

Condos

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.

Houses

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.

Posted on March 14, 2018 at 5:47 pm
Martin Posch | Category: Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, Condos in Cabo, Contemporary Homes, Houses in Cabo, Los Cabos Real Estate, Market Report, Martin Posch, Mexico Real Eatate, Real Estate in Cabo, Seller's Fee in Mexico, Windermere Los Cabos | Tagged , , , , , , , , ,

Los Cabos Residential Real Estate Market Report

First of all, here are the numbers for the Los Cabos Residential Real Estate Market Report (only condos and single family homes) January 1, 2017 to November 30, 2017.

Esperanza Resort

Auberge Private Residences, Cabo San Lucas, Mexico

(For more info on this condo click here

Most noteworthy is that the total numbers of sales for all residential properties in all price ranges are up by a 19% to 425 transactions.

The total sales volume is up by a 12% to $278,389,000 US Dollars.

Total numbers of properties under contract are up by 25% to 454 contracts and the average sales price is down 6% to $655,000 US Dollars.

Now let’s see how the numbers look like for the condo and single family home market:

Condos

First of all, from January 1, 2017 to November 30, 2017 the total number of closed transactions for condos is up by a 17% to 230 units. The total sales volume is up by 20% to $102,589,000 US Dollars. The average sales price is also up by 2% to $446,000 US Dollars.

Single Family Homes

Closed transactions for single family homes for the same period are up by a 21% to 195 units. The total sales volume is up by 7% to $175,801,000 US Dollars. The average sales price is down by 11% to $902,000 US Dollars.

Total numbers of closed sales for properties above $1,000,000 US Dollars is up a 27% to 79 closed escrows. The total sales volume is up by 13% to $178,344,000 US Dollars. The average sales price is down by 11% to $2,258,000 US Dollars.

Finally, the market for properties below one Million US Dollars has turned around over summer and is up compared to the same period a year ago. The total numbers of sales, accepted offer and total sales volume are. The total numbers under contract went up by 28% to 379 accepted offers. Total units sold are up an 18% to 346 units and the total sales volume is up by 10% to $100,045,000. The average sales price is down by 7% to 289,000 US Dollars,

Are you interested in getting a Los Cabos Residential Real Estate Market Report for a specific area? Please feel free to contact me and I’ll be more then glad to provide you a specific report.

Posted on December 12, 2017 at 4:51 pm
Martin Posch | Category: Baja Real Estate, Cabo Real Estate, Cabo San Lucas, Cabo San Lucas Realty, 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 , , , , , , , , , ,