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Cabo San Lucas Housing Report 2015

Facts: 

  • 400 plus active agents on the MLS in Los Cabos
  • Actor George Clooney listed his Cabo San Lucas Beach House for a reported $50 million and closed escrow for the amount of $48 million!
  • Cabo San Lucas now has 317,000 full time residents and has passed La Paz with 290,000 residents
  • Hotel rooms are now operating at 100% with heavy construction along the corridor and Pacific Ocean building and opening new resorts and hotels

Here are the numbers for the residential market (only condos and single family homes) from January 1 to December 31. These numbers do not include land, lot sales or commercial sales as these transactions could be well over $20 million and would misque the results for your typical residential transaction.

The market still has not FULLY recovered from Hurricane Odile, but the tourism industry for Cabo is stronger than ever before.

The total numbers of sales for all residential properties in all price ranges are down by a 2% to 345 transactions.  In 2014 there were 355 transactions

The total sales volume is down by 30% to $192,332,000 US Dollars.  In 2014 the number was $264,777,000 US Dollars

Total numbers under contract are down a 19% to 298 contracts. The average sales price is down a 28% to $524,000 US Dollars.  In 2014 the average sales price was $746,000

Condo Market:

For the entire year of 2015 the total number of closed transactions for condos is down by a 15% to 131 units. The total sales volume is down by 24% to $50,918,000 US Dollars.  In 2014 this number was $63,595,000.

The average sales price is down a 15% to $329,000 US Dollars.  In 2014 this number was $393,000

Single Family Homes:

Closed transactions for single family homes are up by 4% to 212 units. The total sales volume is down by 31% to $141,414,000 US Dollars.

In 2014 this number was $201,182,000

The average sales price is also down by 34% to $667,000 US Dollars.

In 2014 this number was$1,042,000

These numbers reflect a lack of sales for properties above one Million US Dollars. Total numbers of closed sales for properties above $1,000,000 US Dollars is down a 40% to only 47 closed escrows.

The market for properties below one Million US Dollars looks much better. The total numbers under contract went up by 9% to 330 accepted offers. Total units sold is up by 7% to 320 units and the total sales volume is up by 4% to $100,751,000 US Dollars.

If you would like to receive an update on a specific neighborhood please let me know and I’m more then glad to provide you with the numbers.​

To find your NEW home / condo, begin your SEARCH HERE:

  • Homes / Condos start as low as $34,000$15,000,000 US Dollars
  • Vacant lots ranging from $2,400$21,000,000 US Dollars

At CaboProperties, we ONLY work with exceptional brokers that will assure YOU experience a safe, solid and secure “Cabo San Lucas Real Estate” transaction.

Contact US if you have any questions or visit our FAQ page

Until we meet along the beaches of Cabo…

Cabo Real Estate

 

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