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Cabo San Lucas Blog

This blog discusses Los Cabos real estate and other important news and happenings in Cabo.


Cabo Real Estate - 2012 in Review

It has been an interesting year 2012 in the Cabo Real Estate market.  We have seen more units sold this year compared to 2011 (469 to 440) but a decrease in total sales volume ($175M in 2012 compared to $225M in 2011).  We have a median and mean price per unit decrease from 2011 to 2012 also ($256k to $208k and $512k to $373k respectively).  Of the sold units in 2012, owners have been on average been able to capture 87% of their list price.  With our current inventory at 2,445 units or $1.9 Billion we have about 6 years of inventory on the market.  515 units are in pending status and awaiting to be closed this year 2013.  There were 1469 units that came to the market in 2012 or approximately $1.1Billion in inventory.  


So what does this all mean?  Well I think it is important to see we had more units sell this year but that our average and median sales prices have fallen which makes sense and gives reason to the increase in # of units selling in 2012 compared to 2011.  I am seeing a lot of the lower priced inventory being cleared out and making room for a year 2013 of a possible increase in average and median sales prices.  It still looks that the sales volume will increase this year and what that means for Buyers is that the time window to purchase at our low prices is closing and for sellers that have held out on selling it might be a great time to consider selling.  

 Of course, there are always the estate sales, divorce sales, foreclosures and short sale opportunities and it is our goal at Los Cabos Agent to bring those opportunities to you each and every week.  Here is to a Glorious Year!   

Posted: Thursday, January 3, 2013 1:58 PM by Nick Fong


Diana Miller-Buchanan said:

You give us great information.  We are thinking about buying a property in Cabo that we would want to rent out and then in about 8 years when retire we would live there full-time.  We have about $20,000 for a down payment and would like a 2 bed/2 bath condo or single family home within walking distance to town.

# January 4, 2013 8:41 AM
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