Los Cabos Residential Market Report

BY: MARTIN POSH

The residential real estate market is recovering slowly, here in Los Cabos. All the numbers reported are compared to the first five months of 2014.

The good news is that the number of sales (closed transactions) for the first five months has gone up a 4% to 167 transactions.

Total sales volume is down by 37% to $68.272.000 US Dollars.

Total transactions under contract are down  40% to 129. The average sales price is down 39% to $409,000 US Dollars.

Now let’s take a look at how the numbers look like for condos and single family home market:

During the first five months of 2015 the total number of closed transactions for condos   was down by 21% to 71 units. The total sales volume was down by 30% to $25,230,000 US Dollars. The average sales price was down 12% to $355,000 US Dollars. The list to sales ratio is up by one point to 91%.

Closed transactions for single family homes were up by 35% to 96 units. The total sales volume is down by 40% to 43,042,000 US Dollars. The average sales price was also down by 55% to $448,000 US Dollars. The list of sale ratio was down three points to 87%.

These numbers reflect a lack of sales for properties of   one Million plus US Dollars. Total numbers of closed sales for properties above $1,000,000 US Dollars was down 52% to only 14 closed escrows. The total sales volume is down by 72% to 19,578,000 US Dollars. The average sales price was down by 42% to $1,398,000 US Dollars.

 

By Martin Posh, Broker, Windermere Los Cabos, Office Phone - +52(624) 131-3330,
Cellular - +521(624) 147-5857,martinposch@windermere.com
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