Everything you need to know about buying and selling real estate in Mexico, Puerto Vallarta, and the Banderas Bay region

REAL ESTATE MARKET REPORT YEAR OVER YEAR COMPARISON

2017 vs 2016 Property Sales

This Sunday I changed my routine and walked through town on the malecon from the Navy Museum to the Hotel Rosita.  This area still has charm.  The plants have grown large enough to be a part of the landscape and for the most part the route is clean of trash. The sculpture gallery is an outstanding attribute for Puerto Vallarta to have for residents as well as visitors.

This area around the main plaza and church, has its own identity separate from Zona Romantica, south of the Rio Cuale. How fortunate we are to have distinctly different areas developing within our city. Enjoying the walk today were runners, dog lovers, couples and singles. There was a slight breeze and sun was out, all good.

Things are good as we move into high season. We are fortunate to be popular with nationals and foreign visitors. Restaurants are doing well, the Sat markets are beginning in Zona Romantica and the library Los Mangos on Francisco Villa near Versailles.

Let’s see how our real estate market stats look through, today, Sunday.

 

GRAND TOTALS

We continue to have a higher volume of US dollar sales and more units sold than 2009 and the following years until now. As of Nov.12, 2017, we have reported sales volume of $225,571,781 usd.  We are up 47% over 2016 same time frame.  We have sold 770 properties (condo, home, land), up 44% over 2016.  Our average sales price for all reporting of these three properties is $292,950 usd, or 2% over 2016.   This is a lot of sales reported for an average price under 300,000 usd, our current market profile.

 

CONDO SALES

Condo Totals are a sales volume of $151,058,137 usd or 67% more total sales volume in US dollars.  Average sales price is $268,309 usd.

Leaders are Centro South with over $43,001,621 usd with 157 sales. Average sales price is $273,896 usd. Areas include Zona Romantica, Olas Altas, Alta Vista.

Second is the south shore which includes Amapas, Garza Blanca, Sierra del Mar, Mismaloya. $32,220,163 usd with 87 units sold with an average sales price of $370,347 usd.

Third is Nuevo Vallarta West with El Tigre, Mayan, Oceanside, Canal.  $18,450,685 usd volume with 71 units and an average sales price of $293,033 usd.

Hotel Zone is fourth is $14,982,717 usd with 81 sold and average sales price of $184,972 usd.

Fifth is Bucerias with $9,483,685 usd and 42 sales with an average of $351,248 usd.  Sixth is the Marina with $8,396,400 usd from 81 units for an average sales price of $184,972 usd.

Selling in the millions of usd also are La Cruz, Centro North, Destiladeras, Flamingos, F Villa West, San Pancho.

 

HOME SALES

Homes Totals are a sales volume of $61,795,195 usd. 172 sales reported for an average sales price of $359,274 usd.

Highest sales volume is booked by Punta de Mita with $13,100,000 usd with 4 sales and an average sales price of $3,275,000 usd

San Pancho is second with $10,838,500 usd from 17 sales with an average sales price of $637,559 usd.

Third is the South Shore with $7,220,000 usd at 13 sales and an average sales price of $555,365 usd.

Nuevo Vallarta West is fourth with $3,497,400 usd with 11 sales and average sales price of $317,945 usd.

Over $2,000,000 usd in cumulative sales include Centro South and Centro North, F Villa East.  Over $1,000,000 usd reported in F Villas West and Marina.

 

LAND SALES

Land sales moved up to $12,7 18,449 usd with 35 sales and an average sales price of $363,384 usd.

First is Sayulita with a sale of 2 parcels for a total of$5,012,000 usd. Second is South Shore with 3 sales totaling $2,405,389 usd.  Third is Nuevo Vallarta West with 2 sales for a total of $1,182,093 usd.

Largest land sale was Rancho El Encanto, an hour from Puerto Vallarta’s international airport and only 15 minutes from Sayulita, on Carretera Higuera Blanca.

 

 

This data is furnished by FlexMLS AMPI chapters reporting: Nayarit, Compostela, Vallarta. Information is deemed to be reliable but is not guaranteed.

 

 


This article is based upon Flex MLS reporting, legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review. If you have any other questions, contact me through my website.

Harriet Murray

harriet@casasandvillas.com

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