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Los Cabos Residential Real Estate Market Report

Los Cabos Residential Real Estate Market Report

2021 Q2 Market Report 
July 12, 2021

Report Commentary

House and Condo sales volumes continued their blistering pace in the second quarter of 2021.  Shaking up some of the statistics has been a massive surge in high end condo sales. Notably sales at the The Cape Residences, Hacienda Beach Club, Las Ventenas al Paraiso, St. Regis, Tortuga Bay and the epic sell-out of the Querencia Ocean Residences.

Epic Sales Volumes

Sales in Q2 2021 on a dollar volume basis have eclipsed all of 2020 at $563m USD.  Unit volumes of houses and condos was 33% higher over the Q1 2020 635 vs 499. We continue to see buyers are coming en masse and sight-unseen sales are happening more than ever. Sales continue to be driven by buyer attitudes of  1) “LIFE IS TOO SHORT” and 2) WORK FROM HOME –  if I have to work from home, home may as well be Cabo. We are also hearing of investors taking money out of the US based on looming increases is Capital Gains Taxes from President Biden.

Overall, the residential average and mean prices are largely flat at 0.1% and -0.6% changes over 2021 Q1. Individually average house prices declined -11.2% due to decline in sales in the $5m plus ranges and increases in lower prices points.

Individually average condo prices soared 74.1% due to the massive surge is high end condo sales mentioned above.

Days on Market is tightening as the buying frenzy continues and the Sold % of List Price is increasing as the market tightens and quality inventory diminishes.  

COVID Bubble

This report now includes trend charts in the COVID Bubble section below.  In this section we track the upward climb of unit and dollar sales volume since May 2020 when the lockdown ended in Los Cabos.  We are also tracking the decline in Average Days on Market and the tightening of the Average Sold % of List Price.

Los Cabos Residential Real Estate Market – Highlights

Los Cabos Residential Real Estate Market – Sales Volume by Price Point

Los Cabos Residential Real Estate Market Highlights – Sales Volumes by Month

Please note the remarkable drop in sales volumes for April due to Covid and the steady climb back as buyers have returned en masse.   Sales volumes in Q1 2020 have again eclipsed the previous quarter and dollar volumes for Q1 are  shockingly as much as entire dollar sales volumes for 2020.

Los Cabos Residential Real Estate Market Highlights – Sales & Inventory All Prices

Los Cabos Residential Real Estate Market Highlights – Sales & Inventory Under $1M

COVID Bubble Trends – since May 2020

Los Cabos Residential Real Estate - Historical Reports

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3 Comments

  • Avatar

    Jon Gabrielen

    November 9, 2020 at 5:02 am Reply

    Is it possible for me to get past full year reports?

    • Dean Short

      Dean Short

      November 9, 2020 at 9:41 am Reply

      Hi Jon, all past reports are available near the bottom of the current report. Look for a tile grid to link to each.

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    Jon Gabrielen

    November 23, 2020 at 6:43 am Reply

    Thanks so much Dean

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