The graph above is the number of monthly condo sales in Puerto Vallarta over the last 3.5 years. The purpose is to show you the the level of activity in the market and the changes over the last few years.
This data has been collected from FlexMLS over the last 3.5 years.
I do a monthly Real Estate Market Statistics (Pulling data together from the local Flex MLS). See these monthly statistics going back to October 2020 at https://shorturl.at/PsO6a
The graphs above show the COVID boom when people reassessed their lives and made different decisions. For example:
- Work from home, but lets work from home in Mexico.
- Lets retire earlier, life too short not to make the rest of life enjoyable
- Home country covid restrictions, therefore lets move to Mexico where things are more relaxed.
- Low interest rates at the time
- People made a lot of money on their rental investments and chose to sell one and buy a vacation property in PV.
This demand for PV real estate and the boom drove many more sales and pushed up the prices a lot. (And also brought many new real estate agents into the market as it is always a profitable time to be selling real estate in a real estate boom).
The yellow line in the graph above shows (other than the covid boom), there is a consistent line of how the PV market performs and it shows we are now in a normal market again. Not a bad market but a normal market (in terms of transactions and activity).
Why is now a good time to be buying?
- More listings to choose from
- Less buyers in competition
- Time and room to negotiate a bit more
- The market will turn and be HOT again and will move swiftly. Don’t wait too long, otherwise you’ll miss out on buying in a ‘buyers market’.
If you would like to talk further about the above information, contact PAUL TRIMMER anytime.
