First Half of 2017 Puerto Vallarta Market Report
The first half of the year has flown by and we have the results from the first six months of the Puerto Vallarta and Riviera Nayarit real estate market in 2017. It has been a wonderful year so far filled with incredible weather, activities, theatre, concerts, parades and celebrations, and of course a busy real estate market.
Here is a comparison for the first half of 2017 compared with the first half of 2016.
The numbers of Condominium sales in Puerto Vallarta are up by 86% and sales volume is up by 88%. The average Condominium sales price is up by 1%.
The number of House sales in Puerto Vallarta are up by 79% and sales volume is up by 76%. The average sales price has dropped slightly by 6% due to extra inventory still on the market but representing some great opportunities to purchase at great value.
In general we had a super start to 2017 in Puerto Vallarta and the Riviera this year. In 2016 we had the obstacle of higher exchange rates for Mexican national buyers and Canadian buyers who have been looking at increases due to the exchange rates of up to 35% – 40%. Now mid year we have seen the exchange rate drop to about 18 pesos to the US dollar which is helping a bit for our National and Canadian buyers. Some that had been holding back on making their investments until exchange rates are more in line with previous levels 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.
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 6 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.