Living in Los Cabos: Real Estate 2013 Stats

 

 

Year End Real Estate Report: Baja California Sur

 

Summary

It’s traditional at this time of year to look back and see what the old year brought and what that might bode for the year to come. In real estate it’s no different. These  statistics are from our Multiple Listing Service for 2013 versus 2012. Although we know they are not 100% accurate (agent input error) they are the best we have available.

What we’re seeing, and these numbers back that up, is that the market picked up in 2013 with more sales logged for condos, single family homes, and even raw land. That said, the median sales price (point at which half the sales are above and below) fell for condos and land, and was stable for single family homes. It is still a buyer’s market, and bargains are being had. But that is part of any market recovery. All in all I’m very encouraged by the year we’ve had and the year to come.

One caveat about this report: it is for the whole state. And the market is distinctly different among the various areas. For example, the inventory of condominiums in La Paz more than doubled—an increase of 116%. But on the Cabo San Lucas section of the corridor the inventory dropped by nearly half – a decrease of 45%. You may want to contact me for the breakdown in your exact location.

 

Condominiums

Sold:  This year: 146   Last year: 150  Percent Change: -2

Number Under Contract: This year: 180   Last year: 162  Percent Change:  +11

Sold Volume:  This year: 40,915,636   Last year: 46,584,254  Percent Change: -12

Average Sale Price:  This year: 280,244   Last year:  310,562 Percent Change: -9

Median Sale Price: This year: 199,340   Last year: 216,000  Percent Change: -7

Percent of Asking Price Received: This year: 90   Last year: 90  Percent Change: 0

Number on Market: This year: 959   Last year: 1104  Percent Change: -13

Houses

Sold:  This year: 203   Last year: 185  Percent Change: +9

Number Under Contract: This year: 212   Last year: 203  Percent Change: +4

Sold Volume:  This year: 139,445,888  Last year: 106,240,119  Percent Change: +31

Average Sale Price:  This year: 686,926   Last year: 574,271  Percent Change: +19

Median Sale Price: This year:  279,000  Last year: 275,000  Percent Change: +1

Percent of Asking Price Received: This year: 88   Last year: 89  Percent Change: -1

Number Currently on Market: This year: 1451   Last year: 1315  Percent Change: +10

Land

Sold:  This year: 136   Last year: 125 Percent Change: +8

Number Under Contract: This year: 151   Last year: 128  Percent Change: +17

Sold Volume:  This year: 26,782,765   Last year:  25,735,432 Percent Change: +4

Average Sale Price:  This year: 196,932   Last year: 205,883  Percent Change: -4

Median Sale Price: This year: 78,500   Last year: 91,666  Percent Change: -14

Number Currently on Market: This year: 2097   Last year: 2025  Percent Change: +3

 

 

Terms:

Sold: number of transactions completed

Under Contract: number of accepted offers

Sold Volume: value of all transactions

Average Sale Price: the numerical average: in this market HIGHLY DECEIVING

Median Sale Price: point at which half the transactions are above and the other half below

Percent of Sale Price: also deceiving as it does not account for price reductions

On Market: Currently for sale

 

 

 

 

 

 

Carol Billups is Broker/Owner of Cabo Realty Pros. She has enjoyed working with both buyers and sellers for over twelve years and still thinks hers is the best job on earth. She is also the real estate columnist for Los Cabos Magazine. You can read more of her articles on the website blog www.caborealtypros.com. You can reach her from the U.S. or Canada at 1-760-481-7694, or in Cabo at 044-624-147-7541. You can listen to our 24/7 broadcast on http://www.livecabo.net for a mix of happy music, weather reports and local information.

 

 

 

© 2013 Carol S. Billups

 

 

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