Market Report Q2 2024

MARKET REPORT

Q2 2024 VS. Q2 2023

Cabo San Lucas

Cabo Corridor

San Jose Corridor

San Jose del Cabo Pacific

La Paz East Cape

A View From Los Cabos

In a year marked by a historic number of global elections and a changing economic environment, the luxury property market continues to thrive. Here in Los Cabos, the luxury market has seen a remarkable surge. The mobility of affluent individuals has led to an increasing number of buyers acquiring property in the area, as the trends in this report explore.

The prevalence of hybrid work arrangements has significantly bolstered this trend. Additionally, the strategic proximity of Los Cabos to the U.S. makes it an exceedingly desirable location for owning second or third homes. Established and surging tech hubs like Houston, Phoenix, Chicago, Seattle, L.A., San Diego, and San Francisco have direct flights to Los Cabos.

Among discerning luxury buyers, the upscale golf developments lining the Corridor connecting Cabo San Lucas and San Jose del Cabo, including El Dorado, Maravilla, Cabo del Sol, Palmilla, Chileno Bay and Diamante, remain highly coveted.

MLS-BCS registered an impressive increase of 149% between Q2 2023 and Q2 2024 in median sold price for houses in the San Jose Corridor, an area favored among luxury buyers.

Noteworthy is the emergence of luxury homes in previously less-prominent communities, such as Todos Santos and East Cape regions. Serving as an example of this, our highest sale during 2024: The Cove Beachfront Puerto Mexia, a beautiful vast parcel of 74 acres situated on the shoreline of the Sea of Cortez, sold for US$6M setting a record and pushing the market in La Paz area.

Our luxury market boasts healthy inventory levels and although identifying the ideal investment opportunity may pose challenges, aligning with the unparalleled expertise of our region’s premier team of real estate professionals ensures the most secure path to optimal results.

Visit loscabossir.com to explore our services and listings.

Interested in additional information not included in the report?

Wondering how this insight could be advantageous to you and your personal real estate goals? Our expert agents are here to help. +52 (624) 172.6555 | +52 (624) 143.1588 info@sirloscabos.com | www.loscabossir.com