| Puerto Vallarta, Mexico: Real Estate Prices First Six Months of 2012 Carl Timothy - Timothy Real Estate Group | |
| go to original June 19, 2012 |
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| Puerto Vallarta, Mexico Real-Estate-Market |
Although not representative of all the activity we have had in the Banderas Bay area of Puerto Vallarta, I think these numbers from our Multiple Listing Service (MLS) system show what the trend has been for the first 6 months of this year compared to all of last year.
I have been a realtor in Puerto Vallarta for 13 years and it has been my experience that what happens up north, particularly with the West Coast real estate markets, trickles down here with about a 6 to 8 month lag time.
If the market starts to go down in California, it will start to go down in Puerto Vallarta about 6 months later. If the market in California starts to go up, we usually start to feel a stronger market in Puerto Vallarta about 6 months later.
Notice the positive trends in Condo Sales, House Sales, and Land Sales in just the first 6 months of 2012:
|
Last Year
Total Condo Sales |
First 6
Months 2011 Condo Sales |
Last
Year Average Sales Price |
First 6
Months 2012 Average Sales Price |
|
$19,061,197
|
$26,234,316
|
$291,492
|
$293,249
|
|
Last Year
Total House Sales |
First 6
Months 2011 House Sales |
Last
Year Average Sales Price |
First 6
Months 2012 Average Sales Price |
|
$8,892,083
|
$6,649,892
|
$277,079
|
$494,005
|
|
Last Year
Total Land Sales |
First 6
Months 2011 Land Sales |
Last
Year Average Sales Price |
First 6
Months 2012 Average Sales Price |
|
$27,953,280
|
$34,979,926
|
$296,440
|
$336,787
|
Many real estate markets in the United States have started to pick up and so have sales prices and the number of sales, which is all good news for property Sellers in Puerto Vallarta.
My Los Angeles broker friends are all reporting lots of multiple offers, especially in the higher end of the market. This is not such good news for those who are looking to purchase, as the "Buyers Market" may not be around much more.
The bottom line is that Buyers need to act quickly to take advantage of this super opportunity in the market.
Sellers who are re-investing their funds in other real property purchases will need to re-invest right away to not lose out on this window of opportunity.
There is no crystal ball, but I have a great feeling for the real estate market in 2013. It is going to be better than 2012 which is proving to be better than 2011. That is all positive movement and great news for real estate investors.
Timothy Real Estate Group – An innovative company setting new standards in Real Estate sales and services has the most professional and experienced Realtors in the Puerto Vallarta area who understand the intricacies of Mexican Real Estate ownership, the local market, Puerto Vallarta property codes and regulations and financing. The Timothy Group uses that knowledge to provide a sound analysis on every aspect of property ownership. Timothy Real Estate Group is known for professionalism and experience and they bring this to every transaction they work on for the benefit of Real Estate investors and developers alike. Contact Carl Timothy at carl@timothyrealestategroup.com.
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