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Puerto Vallarta Real Estate Market Report

Puerto Vallarta Real Estate Market Report

It’s hard to imagine that the first half of 2024 has passed. With this in mind, we take a look at the past six months of condominium sales data to provide a snapshot of the real estate market in the greater Puerto Vallarta metropolitan area.

2024 continues to show the strength and depth of the Puerto Vallarta market with condominiums leading the way.  The area saw a total of 431 condominium sales totaling $212,735,836 USD during the first six months of the year.  Of those sales, 247 represented existing proprieties vs. 184 for pre-construction.

Taking a deeper dive into the data, the average list price of existing condos was $573,605 USD vs the average selling price $550,605 USD, indicating that existing condos sold, on average, 4% under asking price.

Looking at pre-construction, the average list price was $440,160 USD with the average sale price of $416,918 USD or 6% under asking; largely due to developer discounts to buyers of new construction.

Finally we look at the current active inventory which shows a total of 1,604 properties listed on the Flex MLS.  The breakdown of these is 37% are existing units and 63% are pre-construction signaling that the Bay of Banderas continues to be in growth mode.

We anticipate the market to remain consistent for the remainder of the year and highlight the affordability for those buyers who are willing to wait a little for the delivery of their new Mexican home.


Source: AMPI Vallarta Flex MLS




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