Welcome to the Baja California Sur Real Estate Market Report for the first quarter of 2024. In this quarter, the market has seen significant activity across various property types.
Breaking down the sold properties:
112 houses were sold, totaling nearly 94 million US dollars.
49 condos changed hands, amounting to over 81 million US dollars in sales.
89 land lots were sold, with a total sales volume exceeding 55 million US dollars."
24 commercial properties changed hands, totaling over 4 million US dollars in transactions.
Lastly, 8 fractional properties were sold, amounting to over 3 million US dollars.
Now let’s see the numbers by area:
In Cabo San Lucas, a total of 156 properties were sold, generating an impressive sales volume of over 90 million US dollars."
Moving on to San Jose Del Cabo, 84 properties changed hands, contributing to a sales volume of over 84 million US dollars."
In the East Cape area, 28 properties were sold, totaling nearly 14 million US dollars in sales volume.
Heading over to La Paz, 53 properties found new owners, generating over 22 million US dollars in sales volume.
Lastly, in Todos Santos & the Pacific Area, 61 properties were sold, with a sales volume exceeding 25 million US dollars.
In the first quarter of 2024, the total sales volume amounted to over 238 million US dollars.
While the market experienced a 49% decrease in sales volume during the first quarter of 2024 compared to the same period in 2023, this decline can be viewed positively as a natural correction following a period of exceptionally high sales. It indicates a return to a more sustainable pace, allowing for steadier growth and market stability in the long term.
Let's take a look at some key statistics shaping the market dynamics.
New listings totaled 1,619, indicating a healthy supply of properties entering the market. Meanwhile, there were 678 pending transactions, reflecting ongoing activity.
The total list volume exceeded 1.7 billion US dollars, with a median list price of $425,000 and an average list price of over 1 million dollars.
Properties spent an average of 43 days on the market, showcasing the continued demand for real estate in the region.
For personalized insights and expert guidance, contact of our Agents at Coldwell Banker Riveras, your trusted partner in Baja California Sur real estate.
