Comparative Market Analysis
Strong Growth Continues In 2019
We are anticipating a fantastic season moving into 2020 as we wrap up a great year. We are seeing more interest in Real Estate than ever before. Taking a look at the current trends in Los Cabos you can feel the momentum.
Yearly Closed Transactions
Where Are People Buying?
Looking at the numbers from the MLS it is clear that people are buying everywhere in Los Cabos, total dollars invested has increased in each area with significant growth throughout the lower half of Baja.
What Are People Buying?
Los Cabos has seen a significant increase in the number of homesite purchases in 2019, this is a reflection of the reduced availability of turn-key homes in prime ocean front locations.
Yearly Sales Volume in Millions
Cabo San Lucas
|Total # of Sales||77||73|
|Average Sale Price||$506,000||$442,000|
Cabo San Lucas house sales reflect a continued reduction of available oceanfront property in the community.
|Total # of Sales||81||131|
|Average Sale Price||$326,000||$393,000|
Condo sales in Cabo San Lucas have seen robust growth in 2019, with a more than 50% jump in number of units sold and a 20% increase in the average price.
San Jose del Cabo
|Total # of Sales||46||55|
|Average Sale Price||$871,000||$1,599,000|
The total number of house sales have seen a slight increase while the average sale price has increased 83%!! San Jose del Cabo is mostly comprised of luxury oceanside communities.
|Total # of Sales||65||106|
|Average Sale Price||$679,000||$488,000|
San Jose del Cabo has seen a reduction in the average sales price of condos, we are seeing a significant increase in the number of units sold this year.
|Total # of Sales||200||337|
|Average Sale Price||$282,000||$123,000|
Land sales in Los Cabos in 2019 tell a compelling story, with a 75% increase in the number of properties sold but more than a 50% reduction in the average sales price. These numbers reflect a growing demand for oceanfront property in Baja.
What About Price per Square Foot?
For several reasons the price per square foot in Los Cabos can be tough to determine, here’s why:
- Established communities vs pre-construction pricing.
- Many properties feature large outdoor living spaces that are not included when calculating square footage.
- Variable factors include area, gated neighborhoods, proximity to beach, amenities, beach clubs, restaurants, golf courses, security and privacy.