Many people are wondering how Puerto Vallarta’s new 2013 real estate season is shaping up so I thought I would share some of my feelings as we move forward into the New Year. Sometimes you have to go with your feeling when things have been so uncertain over the past 4 years but after reviewing the MLS statistics I think we can finally start to draw some conclusions.
First of all I would like to congratulate the Timothy Real Estate Group team of professionals for being number 1 in sales and listings for the entire bay in 2012 (According to 2011 and 2012 MLS statistics). This marks the second year in a row that we have lead in sales production and listing inventory for Puerto Vallarta and I am very proud of our agents.
We all wish we had a crystal ball to foresee the future but as far as our office is concerned we are starting the year off strong in sales. Full price offers have been made already this year and we are seeing interest in properties that have been on the market for some time. I do not feel that the market has shifted yet but developers are once again looking at opportunities and showings on some of our higher priced inventory are picking up which is a good sign that buyer confidence in the market is returning and that inventory levels are going down instead of up.
Here are some statistics from 2012 that may show us where we are headed in 2013.
Total Active Listings went up by 10% over 2011 but New Listings went down by 18%.
The number of sales went up by 43% between 2011 and 2012.
Total Sales Volume went up by 44% between 2011 and 2012.
As you can see the trend shows the market getting stronger in 2012 and there is no reason to believe that this trend won’t continue through 2013.
There are still some great buys available, some tremendous opportunities, but I don’t see these opportunities staying around for 2014 if things continue with the current growth. We are seeing US buyers in the market again after a big pull back. The US real estate markets are getting stronger and the US economy is headed in the right direction to make it easier for US buyers to invest in that dream home they have been wanting. Mexico continues to be much safer than most US cities and the lifestyle here is intoxicating for baby boomers looking to enjoy the new chapter in their lives.
As the Puerto Vallarta real estate market continues to grow we hope that Timothy Real Estate Group will be an important part of that growth taking professional representation to new levels while helping our clients reach their investment goals with joy and excitement.
Carl Timothy [email protected]
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