Los Cabos real estate market report: first quarter of 2019

by Nick Fong

For the first quarter of 2019, the Los Cabos real estate market report reveals a high level of activity. And, regarding residential condos, houses and lots, there were 271 listings that closed during the first quarter alone. Also, there were 263 properties that went under contract, which allows the buyers to get the keys right away. That means, Los Cabos isn’t just a great place for a vacation – it’s a great place to live!

“The Los Cabos housing market…has been steadily rebounding as new construction continues and demand for vacation homes grows… Sales volume increased by about 30 percent in 2016 over the previous year… Most buyers are from the United States and Canada” – New York Times.

If you’re interested in purchasing real estate in Los Cabos, now is a great time to buy. Below, I’ll break down the numbers from the Los Cabos real estate market report. But first, read a little bit about Los Cabos. You may uncover something you never knew about this magical place.

Los Cabos, Mexico

Los Cabos represents two fishing villages that are now luxury tourist destinations along the southern tip of Baja California: Cabo San Lucas and San José del Cabo. Between them, the Golden Corridor stretches along the beautiful Sea of Cortez. There, you’ll find many beautiful resorts and communities where you can own a condo, home, or a lot to build your dream home.

Cabo San Lucas

Transformed from a fishing village to a famous tourist destination, Cabo San Lucas is simply breathtaking. When you visit, you’ll find everything you need for a wonderful vacation home or permanent residence.

Right below Cabo San Lucas is El Arco de Cabo San Lucas – the arch that marks Lands End. It’s located on the southern tip of Baja California. So, be sure to click on the link to read all about this majestic rock formation.

Cabo San Lucas is famous for fishing, championship golf, and its nightlife. To learn about fishing in Cabo, read Cabo San Lucas Fishing: The Angler’s Lowdown. Next, to uncover some of the greatest golf courses in the world located in Los Cabos, check out Top-10 Cabo golf courses that will take your breath away. Finally, learn about the nightlife by reading Cabo San Lucas nightlife REVEALED!

San José del Cabo

Contrasting the fiesta life of Cabo San Lucas, San José del Cabo offers tranquility and beautiful Baja-style Mexican culture. There, fill your day shopping at the many quaint shops and boutiques. Then, fill your stomach at one of the excellent restaurants in town. Finally, enjoy time with your entire family on one the pristine beaches along the there Sea of Cortez.

Breaking down the numbers from the Los Cabos real estate market report

Starting with closings, see how the numbers break down in dollars from the total sales volume. Then, read how the properties under contract break down.

Closings from the market report

For the closed listings from the Los Cabos real estate market report, there were a 109 million dollars of list volume. And, there were almost 99 million dollars of sold volume, with an average list price of 402 thousand dollars. The average sales price was 365 thousand dollars, and the average sales price to list price of 90 percent. The average days on the market were 337 days.

Condos

The Los Cabos real estate market report for the first quarter of 2019 states that there were 85 condos that closed. First, the list price volume was 37.8 million dollars. Then, the sold volume of 35.4 million dollars. Finally, the average list price was 445 thousand dollars with an average sales price of 416 thousand dollars. Therefore, the list price to sales price was 93 percent with an average number of days on the market of 292 days.

Houses

Houses sold: there were 94 total houses, the list volume was 60.8 million dollars, and sold volume of 54.4 million dollars. The average list price was 647 thousand dollars, and the average sales price was 579 thousand dollars, which give us a sales price to list price of 89 percent. The average days on the market for sold houses was 311 days.

Lots

About the lots sold in the first quarter 2019, they were 92 total lots with a list volume just under 10.3 million dollars, and a sold volume of 9.1 million dollars, the average list price was a 112 thousand dollars and an average sales price of 99 thousand dollars. The sales price to list price was 88 percent, with average days on market of 407 days.

Properties under contract

In the first quarter, 2019 of the properties that went under contract were 263, with a listing price volume of 133.6 million dollars, the average list price was 507 thousand dollars, and the average days on the market were 341.

Condos

Condos: there were a total of 70 condos and average days on market of 286 days with an average list price of 476 thousand dollars, and a total list volume of 33.3 million dollars.

Houses

Houses: 89 total houses with average days on market of 296 days, there was an average list price of 823 thousand dollars and a total list price volume of 73.2 million dollars.

Lots

And the lots that went under contract in this first three months of the year, were 104, with average days on the market 416 days, the average list price was 257 thousand dollars, with a total list price volume of 26.7 million dollars.

Los Cabos real estate market report online

You can download the market reports here: https://mls.loscabosagent.com