Puerto Vallarta Real Estate Market Update for First Half of 2013

TreGroup
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June 15, 2013


I am reviewing the numbers for the first half of 2013 and I am surprised by what they say. Timothy Real Estate Group has been very busy this year, and remain so as we enter into what we consider the “Low” summer season.

Here is a re-cap of what the Bay of Banderas in general has experienced using statistics from the AMPI Multiple Listing Service:

In the condominium market we have less inventory than we had the first half of last year but our total condominium sales volume is down by 26%. That’s a lot. This may be because a number of the new pre-construction developments that have been popular in the Romantic Zone of downtown are not registered in the MLS system. The average sales price has dropped by 7% and the days on market for condominiums have gone up by 29%. Most of what we have been selling in the office has been condominiums so this is surprising to me except for the fact that there is a lot of condominium inventory available.

The news about houses is much better for the first six months of the year when compared to last year’s numbers. The total Active listings on the market are virtually the same with the Days on Market dropping by 27%. The total number of sales is down by only 2 sales but the Total Sales Volume is up by 137%, which is due to higher end properties that are now selling. The average Sales Price has jumped by 156% because of the high-end properties that are now starting to move again.

What’s new for the Timothy Real Estate Group office in 2013 are a number of full asking price offers and even an over asking price sale. We have had a good start to 2013 with the most reported sales volume in the Bay for the first 6 months and with the most listing inventory available from an agency.

With the success of our first Puerto Vallarta Real Estate Fair in March and the completion of the filming for our second House Hunters International episode for HGTV we are off to a great start for 2013. You can catch the new episode of HGTV’s House Hunters International on July 26th for the US television market. It may be delayed up to 3 or 4 months for the Canadian and other international markets but the episodes repeat often. We start filming the 3rd episode this summer and we are excited about that.

We are very pleased to have the support and confidence of our wonderful clients who make everything possible. For information on how Timothy Real Estate Group can help you find the perfect property or sell your Puerto Vallarta home please contact any of the professional agents at Timothy Real Estate Group.

Timothy Real Estate Group – An innovative company setting new standards in property sales and services has combined the most thoroughly professional and experienced talents to keep clients informed about the intricacies of Mexican real estate ownership, local real estate markets, local codes and regulations, financing, rentals and perhaps most importantly, sound analysis for every aspect of real property ownership. With combined real property services experience of more than 35 year’s worth of real estate sales, accounting, management, and property services, Timothy Real Estate Group is unequaled in its professionalism and experience with foreign investors.

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