Puerto Vallarta, Mexico - The Easter holiday is over and Timothy Real Estate Group has the results from the first quarter Puerto Vallarta real estate market. It has been a wonderful season filled with incredible weather, activities, theater, concerts, parades and celebrations and, of course, a busy real estate market.
Here is a comparison for the first quarter of 2015 compared with the first quarter of 2016.
The number of Condominium sales in Puerto Vallarta are up by 19% but the sales volume is down by -5%. The average sales price is down by -21%.
The number of House sales in Puerto Vallarta are up by 9% and sales volume is up by 47%. The average sales price has also risen up 35%.
In general we had a good start to 2016 in Puerto Vallarta this year with things a little slower for Riviera Nayarit. Our biggest obstacle has been the 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%. They have been holding back on making their investments until exchange rates are more in line with last year. I strongly believe that if the exchange rate for the US dollar against the peso and Canadian dollar were in line with last year’s rates we would have had a blockbuster first quarter. The buyers are still hungry to purchase but are waiting for some stabilization in rates.
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 six years which means we bring to the table our qualified, professional representation in all aspects of your real estate transaction. We offer talented negotiators and expert realtors to make your experience joyful and satisfying.
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 a strategic location in the Romantic Zone of Puerto Vallarta in the Colonia Emiliano Zapata. 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.
When you combine extensive local knowledge and our long standing reputation for honesty and sound judgment, you have an unbeatable resource at your disposal. You have Timothy Real Estate Group, a constant leader in Puerto Vallarta real estate.
Timothy Real Estate Group is a full-service real estate sales, rentals and development agency representing some of the most distinguished properties and developments across Puerto Vallarta, Bahía de Banderas and the Riviera Nayarit. For more information, visit TimothyRealEstateGroup.com.
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