PUERTORICOLUXURY MARKET REPORT Q1-Q3 2022 RITAPELLENS
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Sub-heading1 RITA PELLENS Real EstateProfessional License3302 PuertoRico Sotheby'sInternational Realty 787.397.4427 | ritapellens@sothebysrealtypr ritapellens.com
PUERTORICO
MARKETUPDATE Welcome to Puerto Rico's Luxury Market Report for Q1-Q3 2022. This report focuses exclusively on residential salespriced above$1M,in Dorado,Condado, Palmasdel Mar and BahiaBeach between January 1and September30,2022.
Puerto Rico's luxury residential market continues to grow, with pricing remaining strong. The first three quarters of 2022 have seen markets adjust to higher interest rates with the number of sales slowing down, however average prices per sq. ft. have increased considerablyascomparedtothesameperiodof 2021.
The volume of closed transactions decreased 39% in Dorado, 33% in Condado, 52% in Bahia Beach, and increased 16%in Palmasdel Mar. Averagepricesper sq. ft.increased41%in Dorado(77%in DoradoBeach),22% in Condado, 63%in BahiaBeach and 27%in Palmasdel Mar.
RITAPELLENS
All reports published for Q1 Q3 2022 are based on data available at the time of publication, December 2022 All reports presented are based on data available form the Property Registry of PR, Comparables Online, and other sources, and may not reflect all real estate transactions in the market Information and accuracy deemed reliable but not guaranteeed Percent changes calculated comparing the most recent statistics with the same period (Q1 Q3) the previous year
Rita Pellens Real Estate Professional License 3302 Puerto Rico
787 397 4427 | rita pellens@sothebysrealty com
Sotheby's International Realty
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Total SalesVolume$1M+ Properties
Pellens Real Estate Professional License 3302
Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com MedianSalesPrices PalmasdelMar/Condado//BahiaBeach/Dorado RITA PELLENS Real EstateProfessional License3302
7873974427 | ritapellens@sothebysrealtypr
Rita
Puerto
PuertoRicoSotheby'sInternationalRealty
Pellens Real Estate Professional License 3302
Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Avg.PriceperSq.Ft. PalmasdelMar/Condado/BahiaBeach/Dorado 1 RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita
Puerto
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com At AGlance $3,075,000 $1,143 61 $331,718,893 Median Sales Price Average Price per Sq.Ft. Total Units Sold Total Sales Volume
Rita Pellens
Real Estate Professional License 3302
RITA PELLENS
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Real EstateProfessional License3302
PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Dorado Q1-Q3 2022
Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com At AGlance $6,200,000 Median Sales Price 33 Total Units Sold $283,916,768 Total Sales Volume $1,642 Average Price per Sq.Ft.
Rita
DoradoBeach
Q1-Q3 2022
Rita Pellens
Real Estate Professional License 3302
RITA PELLENS
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Real EstateProfessional License3302
PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Overview Average prices in Dorado Beach have increased 84% year over year. Theaveragepriceper squarefoot increased 77%. RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 7873974427 | ritapellens@sothebysrealtypr RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com DoradoBeach Q1-Q3 2022
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Propertysalesrangedfrom$1,050,000to$40,000,000. AverageSalesPrice$8,603,538 MedianSalesPrice $6,200,000 27%of salesrangedfrom $1$5M 45%of salesrangedfrom$5-$10M 27%of saleswereabove $10M Q1-Q3 2022 DoradoBeach
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com At AGlance $1,625,000 Median Sales Price 40 Total Units Sold $82,933,950 Total Sales Volume $738 Average Price per Sq.Ft.
Rita
Condado
Q1-Q3 2022
Rita Pellens
Real Estate Professional License 3302
RITA PELLENS
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Real EstateProfessional License3302
PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com eading1 RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr Condado Q1-Q3 2022
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Propertysalesrangedfrom$1,025,000to$6,500,000. AverageSalesPrice$2,073,349 MedianSalesPrice $1,625,000 63%of salesrangedfrom $1-$2M 27%ofsalesrangedfrom$2-$3M 10%of saleswereabove $3M Condado Q1-Q3 2022
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com At AGlance $1,555,000 Median Sales Price 28 Total Units Sold $54,719,118 Total Sales Volume $573 Average Price per Sq.Ft.
PalmasdelMar
Q1-Q3 2022
Rita Pellens
Real Estate Professional License 3302
RITA PELLENS
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Real EstateProfessional License3302
PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Pellens
Estate Professional License 3302
Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
PELLENS
EstateProfessional License3302
Realty 7873974427 | ritapellens@sothebysrealtypr
Rita
Real
Puerto
RITA
Real
PuertoRicoSotheby'sInternational
Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Q1-Q3 2022
Rita
PalmasdelMar
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Propertysalesrangedfrom$1,050,000to$4,850,000. AverageSalesPrice$1,954,254 MedianSalesPrice $1,555,000 68%ofsalesrangedfrom $1$2M 18%of salesrangedfrom$2 $3M 14%ofsaleswereabove $3M Q1-Q3 2022 PalmasdelMar
RITA PELLENS
Real Estate Professional License 3302
Real EstateProfessional License3302
PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Rita Pellens
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com At AGlance Median Sales Price $2,400,000 7 Total Units Sold $25,385,504 Total Sales Volume $1,334 Average Price per Sq.Ft.
Rita Pellens
Real Estate Professional License 3302
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
BahiaBeach
Q1-Q3 2022
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr BahiaBeach Q1-Q3 2022
Rita Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com Propertysalesrangedfrom$1,750,000to$8,000,000. AverageSalesPrice$3,626,501 MedianSalesPrice $2,400,000 14%of salesrangedfrom $1$2M 43%ofsalesrangedfrom$2-$3M 14%of salesrangedfrom$3M-$5M 29%ofsaleswereabove $5M BahiaBeach Q1-Q3 2022
Pellens Real Estate Professional License 3302 Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com
Rita
Rita Pellens
Real Estate Professional License 3302
Puerto Rico Sotheby's International Realty 787 397 4427 | rita pellens@sothebysrealty com RITA PELLENS Real EstateProfessional License3302 PuertoRicoSotheby'sInternational Realty 787.397.4427 | rita.pellens@sothebysrealty.pr ritapellens.com
