Puerto Vallarta Real Estate Market Year Comparison 2016 – 2017

As the end of 2017 approaches, we decided to show you a comparison of between 2016 and 2017 statistics of the Puerto Vallarta Real Estate Market. 2017 was probably, the best year in many, many years as sales improved all across the board and here are the statistics.

SUMMARY STATISTICS CONDOS

Nov 17 Nov 16 % Chg 2017 YTD 2016  YTD %Chg
Absorption Rate 14.44 34.55 -58.21 17.63 35.26 -50.00
Average List Price $373,887 $331,624 12.74 $346,122 $339,521 1.94
Median List Price $299,950 $269,245 11.40 $280,000 $278,500 0.54
Average Sale Price $264,868 $236,763 11.87 $269,693 $262,531 2.73
Median Sale Price $222,000 $192,000 15.63 $217,250 $215,475 0.82
Average DOM 571 376 51.86 402 375 7.20
Median DOM 420 271 54.98 262 309 -15.21

The Condo Real Estate Market in Puerto Vallarta showed a significant increase of New Inventory that became available for sale last year as well as this year. This along with the preference of current buyers for new construction has caused an increase in the AVERAGE DAYS ON MARKET.

It is also important to note the reduction of the absorption rate which has come down now to 14.44 months, a reduction of over 58% from last year.

 

SUMMARY STATISTICS HOUSES

Nov 17 Nov 16 %Chg 2017 YTD 2016 YTD %Chg
Absorption Rate 31.69 42.32 -25.12 33.49 66.37 -49.54
Average List Price $765,792 $664,671 15.21 $621,127 $606,209 2.46
Median List Price $374,305 $340,000 10.09 $338,083 $298,500 13.26
Average Sale Price $373,870 $497,457 -24.84 $355,792 $373,969 -4.86
Median Sale Price $214,560 $375,450 -42.85 $205,000 $207,500 -1.20
Average DOM 364 438 -16.89 374 358 4.47
Median DOM 323 342 -5.56 227 254

Traditionally, in our Real Estate Market, condos sell more than houses however, this year we also saw an increase in the sales of houses.

SUMMARY STATISTICS LAND

Nov 17 Nov 16 %Chg 2017 YTD 2016 YTD %Chg
Absorption Rate 60.24 91.86 -34.42 65.73 137.64 -52.24
Average List Price $617,268 $646,082 -4.46 $636,642 $818,557 -22.22
Median List Price $228,556 $201,557 13.40 $195,000 $221,725 -12.05
Average Sale Price $77,900 $221,488 -64.83 $331,743 $173,139 91.61
Median Sale Price $79,000 $254,398 -68.95 $110,000 $132,500 -16.98
Average DOM 374 489 -23.52 N/A 462 N/A
Median DOM 384 526 -27.00 443 374 18.45

It is important to note that these are for both Puerto Vallarta and the Riviera Nayarit, if you want to see statistics by Area contact me at alfredoh@tropicasa.com or call 3221426296 and I will be happy to provide them to you.

 

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