FlexMLS Participating Members Of AMPI – Totals Of Condo, Home And Land Sales
3,441 Listings Active For 2018 With 1,101 Sold.
Sales Volume 23 % Higher Than Prior Year. Total Sales Of $336,808,064 Usd.
Total for land sales reported of $12,529,767 USD, -14% down from prior year. There were 41 sold transactions with an average sale of $303,804 USD. Sales were an average of 89% off list. Total inventory was 429 lots.
Leaders were Punta Mita with $6,000,000 USD in 1 transaction for development out of a total of 10 land listings.
Bucerias was second with 25 listings with sold for a total of 6 sales. $1,89,732 USD and an average sales price of $315,955 USD. Average sales price was 92% of list.
Nuevo Vallarta West was third with 34 active listings and 7 sales for a total of $1,646,185 USD with an average sale price of $245,773 USD. Sales price was 92% of list.
Total active listings were 979, down or -10% from year prior. Solds of 252 were reported for a total of $96,637,096 USD, up 37% from year prior. Average sales price ended 6% higher for $383,481 USD. Homes sold for an average of 92% of list.
Leader was the Southside of Vallarta with 125 listings and 18 sold, up 28% over year prior. Sales volume was $18,513,000 USD, up 134%. Average sales price became $1,028,500 USD and tight pricing shows sales price average to be 97% of list.
Second is Nuevo Vallarta West with 187 active listings and 43 sold. Sales volume was $15,502,631 USD. Average sales price is up 14% at $360,526 USD. Solds are going at 94% of list.
Punta Mita reported 27 listings and 3 sales. $8,365,000 USD, down to -36%. Average sales price became $2,788,333 USD. Down -14%. Average discount of 10% off listed price. It is unlikely Punta Mita sales were down in an excellent year for all areas overall. I suspect they are not reporting all sales.
Centro North Vallarta was next with 62 listings and 18 sales for a total. Volume of $8,145,00 USD, up 137%. An average sale price is up to $452,528 USD with 94% sales of list.
Centro South Vallarta with 32 active and 17 sold reached a sold volume of $7,657,000 USD. Average sales price is now $452,528 USD. Sale price of list is 94%.
La Cruz de Huanacaxtle has 52 active listings and 9 sales for a total of $7,065,000 USD. Average price reached $785,000 USD up 87%. Prices averaged 89% of list.
Totals were again, for the last 5 years, higher than other property types. Inventory of active listings was 2,033 units. 808 were sold, up 14% from prior. Sales volume was $227,841,201 USD, up 20% over year prior. Average sales price moved up to $281,734 USD. Average discount of 6% off list.
Leading area was Centro South Vallarta with 512 actives and 240 sales. Sales volume increased to $75,984,322 USD. Average sales price of $316,801 USD up 11%. Solds were 93% of list.
Second is Southshore of Vallarta with 194 active and 97 sales. $41,570,848 USD. Average sales price is up 13% at $428,565 USD and 94% of list.
Hotel Zone is third with 430 listings active and 198 sold. $40,296,445 USD. Average sales price is now $203,517 USD with discounts creating sales price at 96% of list.
Centro South in the Flex MLS includes:
- Alta Vista, Caloso, Las Penas, Benito Juárez, Emiliano Zapata, Olas Altas, Buenas Aires, Las Canoas, Paso Ancho.
- El Centro, El Cero, Gringo Gulch, La Pechuga, Olímpica, Lázaro Cárdenas.
- Gran Venetian and Icon área
- Playa de Oro, Las Glorias, Plaza Genovesa, Los Tules.
- Amapas, Garza Blanca, Playa Gemelas, Sierra del Mar, Boca de Tomatlan, Lower and Upper Conchas Chinas, El Nogalito, Mismaloya, Punta Negra.
Summary: % of Total sales prices reported by type for 2018:
- Condos: 67.62%
- Homes: 28.69%
- Land: 3.72%
Percent of number of units Sold to Active Listings:
- Condos: 39.74%
- Homes: 25.74%
- Land: 9.55%
Indications are we have sufficient inventory at this time to sell without adding more. But, as in times past, new construction demand is hard to access. New construction in condos has been the main product and sales volume producer for the last several years.
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