What is happening in the Los Cabos Real Estate Market Today?

Today, many investors are looking for more than just an investment, they are seeking a lifestyle that they can use, and get a good ROI while gaining equity. Los Cabos continues to surpass expectations while being close to home for many smart investors. Successful captains of industry are drawn to the area not only for fantastic year-round weather, the ability to play championship golf courses, enjoy Yachting and world-class fishing along with a vibrant culinary scene. 

Los Cabos has now become the epicenter of luxurious living with lifestyle amenities and wellness encompassed by the warm spirit of Mexican hospitality. With the Momentum that has been built over the last few years, Los Cabos has seen unprecedented growth. Baja now offers new unique opportunities for those considering owning a piece of paradise.

Real Estate Market Report | January 1st - May 31st 2024

2024 Market Report 13

Here is the Market Sales Stats with a Breakdown for all of Baja:

Total Sold Properties 738 for a Total Sales Volume of $533,592,772 USD

  • 220 Homes Sold for a total of $263,781,858 USD 
  • 272 Condos Sold for a total of $168,767,991 USD
  • 198 Land Sold for a total of $88,577,168 USD
  • 39 Commercial Properties Sold for a total of $9,137,755 USD
  • 9 Fractional Properties Sold for a total of $3,328,000 USD

Market Sales Stats by area:

Cabo San Lucas: 267 properties sold with $136,889,237 USD in sales volume

San Jose Del Cabo: 167 properties sold with $233,682,586 USD in sales volume

East Cape: 66 properties sold with $23,497,018 USD in sales volume

La Paz: 83 properties sold with $38,972,583 USD in sales volume

Pacific Side: 121 properties sold with $95,983,529 USD  in sales volume

2024 Market Report 12

Important Real Estate FAQ:

has inflation impacted the real estate market?

Yes, Los Cabos has seen a rise in construction material and labor costs. With this in mind, there is no sign or factors that show that prices will decrease anytime in the near future. Los Cabos has grown in popularity resulting in a population rise with people still wanting to build since there is a lack of inventory throughout Los Cabos. Because of this, land value has increased and replacement costs for properties are higher because you can not build the property in today’s economy for less.  In addition, another massive factor is the weakening of the US Dollar which has stabilized the market in Baja. Even though prices have increased, buyers are still entering the market to diversify their portfolio and as they invest their money into a secure cash market.

Why are people Selling right now?

Historically, there has been a consistent market trend that after people buy their first property and get even more enamored with the Cabo lifestyle they often choose to move up after gaining equity and purchase a second property within 5-7 years enhancing their lifestyle. Many of the investors we work with have benefited from a booming market and seen their portfolios increase substantially over the last 3-5 years. Many owners have decided to move up to a larger home or into a community with more amenities, or even purchase a second or third property as an investment for overflow or  ROI since the inventory in the luxury market is in high demand. 

Has there been an increase of inventory on the market? Yes, because there have been many new developer projects as an effort to meet demand. However, there is a limited amount of turn-key move in ready homes or condos with ocean views in key communities, so when properties are desirable and priced right, they sell right away sometimes within days of hitting the market. 

Why are so many people buying right Now?  

Savvy and smart buyers are working with our team because we listen to our clients’ wants and needs while at the same time helping them find the best value proposition. Furthermore, our diverse team has a slight edge that benefits you because we understand that you need strong representation for developer purchases and creative negotiations such as extended closings, Soft Closings, and Creative Seller Financing while protecting your best interest to get the property you want while negotiating the best price.  In addition, there is now a 30-year fixed loan offered to qualified American buyers and loans for Canadians on move-in ready residences. 

Here at Oceanside Real Estate Group, we have never had anyone come back and say that they wish they would not have purchased, only that they wish they would have bought sooner or purchased more property. 

Why choose Oceanside Real Estate to represent you? 

Our team is well-versed in the latest market trends, the high-end luxury communities and knowledgeable about the newest inventory coming to market. We are prepared to engage in financial conversations, and we have the ability to explain the buying and selling process along with outlining the differences from your area which is key to assisting you with your real estate goals and achieving them.  We recommend that you contact our team for information about your future investment. Let’s work together to narrow your search now that there is a window of new inventory that just came on the market to get the property you want while it is still available.

Thinking of Selling Your Baja Property?

If you’ve been considering selling your Baja property or thinking about buying in Cabo, there’s no better time than now. You can expect a smooth and successful transaction with our team. Contact us today for a free consultation, and let’s meet your real estate sales goals. These numbers tell a clear story, Baja is a red-hot market!

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Oceanside Los Cabos-Real Estate Guide

Alvaro Obregon 1505, Gallery District, Centro, 23400 San José del Cabo, B.C.S., Mexico