Our market is not volatile as some people would expect. We are more in ¨pause¨ while everyone is watching for who the buyers and sellers will be 2020 and 2021. The majority of our 2,022 active listings are not subject to mortgages. This is key to understanding that our typical seller is not highly leveraged and has paid cash for his property. Carrying costs then are very low compared to the US or Canada where mortgages can be 90% of the value of the property.
FLEXMLS REPORTING BY AMPI AGENTS COMPOSTELA, NAYARIT AND VALLARTA CHAPTERS. SALES SUMMARY – As of July 2, 2018, we have reported sales volume of $187,870,965 usd, up 16% over last year, same time last year. Average sales price overall has gone up 13% to $324,475 usd (average of all reported sales land, condo, single family.)
IMF (International Monetary Fund) 2018 Outlook: The Mexican economy continues to grow, mainly due to its strong economic policies, even while the fate of the country’s trade deal with North America remains unclear. Mexico would still benefit from carrying out reforms for stronger and more inclusive growth. The main areas to tackle are inequality, corruption, obstacles holding back firms’ productivity, and tax collection to allow more room for public investment.
2017 Annual Sales Reported from Flex MLS by AMPI members (National Association of Real Estate: Nayarit & Puerto Vallarta). Total active listing price of condos, houses, land, commercial, business, fractional, and multi-family in the Flex MLS for Year 2017 was $770,130,944 usd. This is from 1,389 active listings in the zones of Puerto Vallarta, Riviera Nayarit, and Sierra Madre Jalisco. The average listed price of these properties was $554,450 usd.