Puerto Vallarta and the Banderas Bay in general, is well known for being one of the most desirable retirement paradises. This fact, in conjunction with recent changes in most production systems, increased levels of return of investment (ROI), tourism, technology, infrastructure and real estate development, is helping position Puerto Vallarta and the Banderas Bay real estate market towards one of the most dynamic periods in its history. High demand of properties is reflected in a 4.75% increase in condominium
average sales price for the 2nd quarter.
The Puerto Vallarta and Banderas Bay Real Estate Market is made up of both full-time retirees and second-home owners and for this reason, we experience higher DOM than metropolitan cities.
Due to the higher demand of real estate properties and more competitive asking prices, the 2nd Quarter Average DOM in 2022 decreased, referenced as a 18.82% drop for condos and 20.77% drop for houses, in comparison with the 2nd quarter of 2021.
Restricted permits for new construction and increased levels of return of investment (ROI) contributed to a reduction in the number of new listings, referenced by a 20.2% drop for condos and a 14% drop for houses.
High levels of real estate demand, competitive asking prices and high levels of Return of Investment (ROI) were determining factors that lead to an increased amount of SOLD condos to 25.5% and the historical 45.5% increase of sold houses.
We are experiencing low levels of inventory, together with the fact that the housing demand is higher than the new listings created, as referenced in a 22.7% reduction of condos for sale and a 9% drop of houses for sale.
All statistics used in this 2nd quarter 2022 Market Analysis are sourced from the Puerto Vallarta, Riviera Nayarita, and Compostela Sections of the Mexican Association of Real Estate Professionals (AMPI) Multiple Listing Service.
Please contact us for further information:
President & Broker
Mobile +52 322 227 4796
Office +52 322 223 5543
Romantic Zone Office
Aquiles Serdán No. 265, int A, Shopping Plaza Los Mercados, Colonia
Emiliano Zapata, Puerto Vallarta, Jalisco, México, C.P 48380