May 27th, 2009
To get an idea of the state of the Real Estate Market in Puerto Vallarta my boss Franklin, the owner of Tropicasa realty did a survey with information available to members of the MLS Vallarta of properties sold since the middle of 2007 up to date.
Now this is not a scientific survey since not all real estate agencies report their sales but it does seem to represent how our real estate market is doing.
Here is what the survey showed:
Number of Sold Properties Surveyed: 392
Number of Properties Sold Above Asking Price: 16 = 4.08%
Number of properties Sold at 100% of Asking Price: 33 = 8.42%
Number of Properties Sold up to 10% Less Than AP: 185 = 47.2%
Number of Properties Sold up to 20% Less Than AP: 115 = 29.33%
Number of Properties Sold up to 30% Less Than AP: 33 = 8.42%
Number of Properties Sold more than 30% less of AP: 10 = 2.55%
Again, maybe not scientific but this analysis seems to represent quite well our present real estate market.
I guess our market is stronger and more stable than some people have thought and one of the reasons maybe that it is a cash market… even if some of those people paying cash had to re-finance a property in the US or Canada to take advantage of their equity and buy their dream home in Puerto Vallarta.
To get an idea of the state of the Real Estate Market in Puerto Vallarta my boss Franklin, the owner of Tropicasa realty did a survey with information available to members of the MLS Vallarta of properties sold since the middle of 2007 up to date.
Now this is not a scientific survey since not all real estate agencies report their sales but it does seem to represent how our real estate market is doing.
Here is what the survey showed:
Number of Sold Properties Surveyed: 392
Number of Properties Sold Above Asking Price: 16 = 4.08%
Number of properties Sold at 100% of Asking Price: 33 = 8.42%
Number of Properties Sold up to 10% Less Than AP: 185 = 47.2%
Number of Properties Sold up to 20% Less Than AP: 115 = 29.33%
Number of Properties Sold up to 30% Less Than AP: 33 = 8.42%
Number of Properties Sold more than 30% less of AP: 10 = 2.55%
Again, maybe not scientific but this analysis seems to represent quite well our present real estate market.
I guess our market is stronger and more stable than some people have thought and one of the reasons maybe that it is a cash market… even if some of those people paying cash had to re-finance a property in the US or Canada to take advantage of their equity and buy their dream home in Puerto Vallarta.
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