First Three Quarters of 2017 Puerto Vallarta Market Report
The first 3 Quarters of the year have flown by and we have the results from the first 9 months of the Puerto Vallarta and Riviera Nayarit real estate market in 2017. It has been a stellar year so far filled with incredible weather, activities, theatre, concerts, parades and celebrations, and of course a very busy real estate market.
Here is a comparison for the first three quarters of 2017 compared with the first three quarters of 2016.
The number of Condominium Sales in the bay are up by 68% and Sales Volume is up by 68%
The average Condominium Sales Price is up by 0.33%.
The number of House sales in Puerto Vallarta is up by 21% and Sales Volume is up by 31%.
The average sales price has dropped slightly by 7% due to extra inventory still on the market but this is representing some great opportunities to purchase at a great value.
Land Sales across the bay have jumped an amazing 204% over last year with an average sales price up by 5%.
And we had a 20% increase in the number sold so there were some larger sales.
Overall Grand Totals show a 1% increase in Active Listings in the bay while the number of Sold inventory in the bay has shot up by 53%.
Overall Sales Volume is up by 61% over last year and the average sales price in the bay is up by 5%.
In general we had a spectacular 9 months in 2017. We are back to some higher exchange rates exchange rates after the first 9 months for Mexican national buyers and Canadian buyers who have been looking at increases due to rate exchanges. Now 9 months in, we are back up to 19 pesos to the dollar as of this date. Some that had been holding back on making their investments until exchange rates are lower have jumped into the market to be able to invest and protect their US dollars. Buyers have decided to go ahead and invest, but maybe in a different price range.
We see 2018 as a very healthy and robust season looking forward with some beautiful new product available for almost everyone.
Timothy Real Estate Group is happy to report that we have been the number one listing and selling agency in the Bay of Banderas for the last seven years which means we bring to the table our qualified, professional representation in all aspects of your real estate transactions. We offer talented negotiators and experts to make your experience joyful and satisfying.
Soon we will have 7 sales centers across the Bay of Banderas from Sayulita, Nayarit to Puerto Vallarta’s Romantic Zone. Please feel free to contact your Timothy Real Estate Group professional for any questions regarding this market report.
Timothy Real Estate Group is a locally-owned and operated real estate brokerage with 3 strategic locations in the Romantic Zone of Puerto Vallarta in the Colonia Emiliano Zapata, one in Bucerias, Nayarit, and of course downtown Sayulita, Nayarit. Because the Puerto Vallarta area has varying neighborhood personalities, we practice localized real estate. We believe neighborhood knowledge is a top factor in solid sales, and we know our communities well.
We believe buying or selling a home is first and foremost about people. Of course we have the latest technology, marketing tools, statistics and research, but a successful real estate transaction really comes down to people. Connecting the right buyers to sellers or investors, our professional agents structure solid transactions with successful solid outcomes. We believe in collaboration by connecting people in ways that bring satisfaction and success.
Contact Timothy Real Estate Group, a constant leader in Puerto Vallarta Real Estate.
- Voice from the Street