2021 Home Guide
Puerto Vallarta Housing Market is HOT Average Sales Price is $367,000 USD
By Jerry Jones If you’re in the market to buy a new home or condo in the Puerto Vallarta area, be prepared for a hot market, with the area experiencing perhaps one of the best years ever for real estate. “Miraculously, like so many other places in the world, this past year and a half have been unbelievably busy in Puerto Vallarta real estate,” said Jay Burchell, a senior real estate advisor with Timothy Real Estate Group. According to the local MLS service, the Puerto Vallarta/Riviera Nayarit region had one of its best quarters between April and July of this year. “The number of sales reported to the MLS services in the second quarter increased by 50% over the first quarter and already, after just six months, have reached 75% of what were the total number of sales in 2020 and 65% of what was sold in 2019,” the MLS report said. “It gets even better when comparing sales volume at $270 million in the first six months of this year, compared to $336 million for all of 2020.”
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Home Guide
Alfonso Davalos, a realtor with The Agency Vallarta, said the housing market in Puerto Vallarta was “on fire”. “For example, in July 2020 we had 60 transactions and in July 2021 we had 121 transactions closed,” he said. “I think the numbers talk.” Ryan Donner, broker with Ryan Donner & Associates, said his team has seen sales volume up 100% over the previous year. “Sales volume is up over 100 percent, and units sold is up nearly 100 percent over last year,” he explained. Burchell said it was a seller’s resale market because the area is low on resale inventory. “There seems to be more resale buyers than listed properties available,” he said. But Donner said his team thinks it remains a buyer’s market, but he has seen a shift in the market leaning towards the seller’s favor.
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