Los Cabos Real Estate Market 2020 Q4 Report

Report Commentary

House and Condo sales volumes thundered back in the 4th quarter of 2020 over the same period in 2019.  At this moment the effects of the COVID-19 pandemic persist as a positive trend in Real Estate in Cabo.  The reality is buyers are coming en masse. Sales continue to be driven by the new buyer attitudes of “LIFE IS TOO SHORT” and if I have to work from home, home may as well be Cabo. 

Sales shot through the roof in Q4 with activity tripling over the same period in 2019.  Sales in 2020 are have finished up 19% over 2019 in unit volume and up 35% in Dollar Volume.  2020 has exceeded 2019 by a long shot and activity continues to be high.

Overall, the residential average and mean prices are up 13.6% and 1.6% over 2019 respectively having been propelled by notable increases in sales and dollar volumes in the $1m to $1.5m and $1.5m to $2m ranges.  Days on Market for Houses has rebounded to 2019 levels as sales activity increased.  Any pandemic related DOM lags have been mopped up the average.

Outlook

The market continues to look strong. The market is experiencing some upward pressure on prices.   How sustainable this will be will largely be determined by the incoming Biden Administration in the US.  Should President Biden lock down the country and curtail travel to Mexico, all bets are off.