2020 Q1 Market Report
Overall house and condo sales volumes remained up in the first quarter of 2020. Effects of the COVID-19 pandemic on the market appear negligible in Q1 but will be more obvious and impacting in Q2. Prior to the pandemic we had been experiencing strong growth in sales at lower price points. Condo sales again remained strong with a 28% increase in volume over Q1 2019. House and Condo sales volumes increased in the sub $300k price points over Q1 2019 resulting in a downward push on the average residential price in Los Cabos of 23.9%. Inventory Turnover % (Sold ÷ Listed) remained robust in the 300k and lower price segments.
In our 2019 Year in Review now expected in July, we will recap 2019 with all sales hopefully closed for a complete picture of the year.