1. In November the average condominium sold for just under US$150,000 while the average sales price for year-to-date was $250,000. Compared to last year, the average sales price for a condominium was $338,000; a substantial drop. This drop has had more to do with demand than actual depreciation as Realtors report they have people looking for condominium under $300,000 as the most popular price range.
2. (Recently corrected). The difference between list and sales price was 12.4% (the average here historically has been about 6-8%) year to date (YTD) for both homes and condominiums. For just condos YTD the difference was 9.6% and for homes it was 16%. However, if you took out the Million-Dollar-Plus home sales (and there weren’t many!), this dropped to just a 5.4% difference between list and sales price. The over a million price range has seen substantial price drops.
3. Number of listings at Multi-List Vallarta remains constant at just over 1,000 listings with 101 new listings for the month of November.
4. Top visiting regions in the US to MLSVallarta.com, the public-side website for the Vallarta/Riviera Nayarit website, were California, Texas and Washington. Top visiting Canadian cities were Calgary, Vancouver and Edmonton. The website had 8,688 unique visitors in November with a total of 95,600 for the year. This is down from 10,200 unique visitors in November of 2008. Interesting that visits are down as it has averaged over 10,000 visits throughout the year. Especially when Realtors are reporting an uptick in activity in November, the best in some time.
5. Unfortunately number of real estate sales and sales volume are not reported by all agencies so we do not publish these numbers – they would not be accurate.