Los Cabos Residential Real Estate Market Report 2023 Q2 Supplement

2023 Q2 Market Report Supplement

August 3, 2023

REPORT SUPPLEMENT

We didn’t quite have enough time to compile data and present price trends for specific properties. Thanks to uniqueness of properties in Los Cabos that see property values vary based on ocean views, location, appointments its a challenge to find a true commodity having suitable sales volumes that we could derive a price index from. We took as shot a three:

Copala 2 Bedroom Condos with Ocean Views between the 3rd and 5th floors – representing a fairly homogeneous product. We excluded 6th floor penthouses units due their rooftop space and 1st and 2nd floor units based on view inconsistency.
Copala 3 Bedroom Condos with Ocean Views between the 3rd and 5th floors – as above. We know there are two different 3 BR models but felt it better to include all 3BR units.
Fundadores 4 Bedroom Houses with Ocean Views and Pools – this is a tougher one as homes in Fundadores are largely custom but 4 BR homes represent most of the sales volume there.

We will include these charts in our quarterly reports going forward.

ABOUT THIS REPORT

This report is produced using BCS MLS Data. It is limited to the Los Cabos Municipality apart from overlaps on the East Cape and Pacific Zones. Around Los Cabos, there is also significant activity that happens off MLS. These tend to be significant high-end developments that have their own way of marketing. These developments include The Cove Club, Chileno Bay, El Dorado, Montage, Maravilla, and Costa Palmas. As a result, this report is not a complete view of all real estate activity in Los Cabos. This report also does not report on land sales. Land sales also took off in the past two and a half years for both individual building lots and developer parcels.

All sales data in this report is based on the Under Contract Date. This is the date when the sale was consummated but not the date when the sale closed, and the title was transferred. Market reports published by other brokers and agents will typically use the Sold (or Closed) Date, which can be up to six months after the Under Contract Date. We feel using the Under Contract Date better represents market activity and timing. Consequently, prices and price volumes will not be entirely accurate until the closed date when the sold price is reported in MLS. In our current Market, with properties selling with very little off from the list, this difference is inconsequential.