ESPIRITU 71, ESPIRITU DEL MAR
ENGEL & VÖLKERS SNELL REAL ESTATE
Copyright 2023 © by Engel & Völkers Snell Real Estate. All rights reserved. No part of this publication may be reproduced or adapted in any manner. Data and marketing subject to change.
2023 MARKET SNAPSHOT END OF Q3, 2023 LOS CABOS, MEXICO
snellrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845 info@snellrealestate.com
Contents In the pages that follow, we´ve prepared a brief market snapshot detailing information from Q1, Q2 and Q3 of 2023. Data is based on MLS sales in Mexico´s Baja California Sur market. The report combines market data with insight and perspective into long-term property and lifestyle investment in Los Cabos, Mexico. We invite you to experience an extraordinary way of life.
2023 MARKET SNAPSHOT
4
LOS CABOS — THE FIRST CHOICE FOR INVESTMENT
12
HIGHLIGHTS BY DEVELOPMENTS
14
IN THE KNOW ON THE DESTINATION
22
2023 AWARD WINNING
24
FEATURED SALES
26
2023 MARKET SNAPSHOT Single-Family Homes
Q1 2023
Q2 2023
ACTIVE INVENTORY + LISTING VALUE
593 / $1,145M
634 / $1,16
NEW LISTINGS
397 / $597M
389 / $477
UNDER CONTRACT (includes contingent + pending)
229 / $277M
178 / $219
MEDIAN LISTING PRICE
$733k
$725k
MEDIAN SOLD PRICE
$349k
$694k
$436 USD
$425 USD
214
216
163 / $194M
188 / $233
AVERAGE SOLD PRICE PER AC SQ.FT. AVERAGE MARKET TIME CLOSED SALES
*PERCENTAGES SHOWN COMPARE UNITS & VOLUME OF Q2 TO Q3 OF 2023; DATA IS BASED ON MLS SALES IN ME
6 4
3
Q3 2023
+/- Q2 & Q3*
61M
617 / $1,125M
-2.7% / -3.1%
7M
236 / $342M
-39.3% / -28.3%
9M
120 / $106M
-32.6% / -51.6%
$700k
-3.4%
$524k
-24.5%
$374 USD
-12.0%
238
-10.2%
159 / $153M
-15.4% / -34.3%
D
3M
EXICO’S BAJA CALIFORNIA SUR MARKET
CASITA 700, VILLAS DEL MAR 7 5
Condominiums
Q1 2023
Q2 2023
ACTIVE INVENTORY + LISTING VALUE
798 / $541M
912 / $672
NEW LISTINGS
492 / $304M
590 / $404
UNDER CONTRACT (includes contingent + pending)
361 / $217M
301 / $191
MEDIAN LISTING PRICE
$439k
$448k
MEDIAN SOLD PRICE
$350k
$432k
AVERAGE SOLD PRICE PER AC SQ.FT.
$403 USD
$371 USD
AVERAGE MARKET TIME
335 days
263 days
366 / $284M
225 / $144
CLOSED SALES
*PERCENTAGES SHOWN COMPARE UNITS & VOLUME OF Q2 TO Q3 OF 2023; DATA IS BASED ON MLS SALES IN ME
6
3
Q3 2023
+/- Q2 & Q3*
2M
920 / $678M
+0.8% / +0.9%
4M
376 / $254M
-36.2% / -37.3%
1M
268 / $174M
-11.0% / -9.0%
$439k
-1.9%
$533k
+23.3%
D
$451 USD
+21.6%
s
268 days
+1.9%
4M
249 / $193M
+10.7% / +34.1%
EXICO’S BAJA CALIFORNIA SUR MARKET
QUERENCIA PH C 501, 502 7
Developer Opportunities/Land
Q1 2023
Q2 2023
1,018 / $1,353M
1,000 / $1,18
NEW LISTINGS
414 / $417M
388 / $339
UNDER CONTRACT (includes contingent + pending)
214 / $103M
205 / $117
MEDIAN LISTING PRICE
$229k
$250k
MEDIAN SOLD PRICE
$91k
$160k
AVERAGE SOLD PRICE PER SQM
$181 USD
$248 USD
AVERAGE MARKET TIME
293 days
300 days
CLOSED SALES
157 / $42M
174 / $82M
ACTIVE INVENTORY + LISTING VALUE
*PERCENTAGES SHOWN COMPARE UNITS & VOLUME OF Q2 TO Q3 OF 2023; DATA IS BASED ON MLS SALES IN ME
6 8
Q3 2023
+/- Q2 & Q3*
87M
1,005 / $1,233M
+0.5% / +3.9%
9M
387 / $424M
0% / +25.0%
7M
138 / $60M
-32.6% / -48.7%
$244k
-2.4%
$141k
-11.9%
D
$160 USD
-35.5%
s
309 days
+3.0%
M
157 / $63M
-9.8% / -23.2%
3
EXICO’S BAJA CALIFORNIA SUR MARKET
PIEDRAS PRIMERAS, NORTHERN EAST CAPE 7 9
Commercial
Q1 2023
Q2 2023
ACTIVE INVENTORY + LISTING VALUE
70 / $53M
69 / $56M
NEW LISTINGS
65 / $74M
11 / $9M
UNDER CONTRACT (includes contingent + pending)
18 / $13M
7 / $1.5M
MEDIAN LISTING PRICE
$179k
$223k
MEDIAN SOLD PRICE
$78k
$399k
$423 USD
$240 USD
173
152
13 / $3M
8 / $1.5M
AVERAGE SOLD PRICE PER AC SQ.FT. AVERAGE MARKET TIME CLOSED SALES
*PERCENTAGES SHOWN COMPARE UNITS & VOLUME OF Q2 TO Q3 OF 2023; DATA IS BASED ON MLS SALES IN ME
6 10
3
Q3 2023
+/- Q2 & Q3*
M
65 / $43M
-5.8% / -23.2%
M
21 / $16M
+90% / +77.8%
M
10 / $3.7M
+42.9% / +146%
$349k
+56.5%
$217k
-45.6%
$280 USD
+16.7%
201
+32.2%
12 / $1.6M
+50%/+6.7%
D
M
EXICO’S BAJA CALIFORNIA SUR MARKET
COMMERCIAL BUILDING CABO 7 11
LOS CABOS — THE FIRST CHOICE FOR INVESTMENT
Purchasing in Los Cabos, Mexico makes for a truly incredible buying opportunity. Buyers are drawn to Los Cabos for ease of travel, comfortable temperatures, exquisite beaches, recreational activities, the finest in amenities, arts and culture, philanthropy, and value for money representation in terms of second and third home markets. It’s the travel and leisure worlds, media and celebrities, confident investors, and people of high net worth from the USA, Canada, Mexico, Europe, Russia, Asia and Australia who continue to place Los Cabos as their first choice for investment.
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EXPERIENCE LIFE BY THE OCEAN 13
Highlights By Developments Exclusively represented by Engel & Völkers Snell Real Estate
SOLD OUT
4 RESALES NOW SELLING (2- and 3-bedroom options)
The Residences at Las Ventanas Al Paraiso, A Rosewood Resort For 24 years, Las Ventanas al Paraíso has expertly blended the very best of Mexico presenting extraordinary places of residence in company with first-class personalized Rosewood services. For those who expect unmatched luxury with perfection, there simply is no better place to call home than The Residences at Las Ventanas al Paraíso. #OwnYourKeyToParadise. • 30 Residences now sold out • Signature, Pool, Penthouse Residences • 4 RESALES AVAILABLE (Penthouse Residence 6501, Signature Residence 5402, 3101 and 1103) • Starting at $2,450,000 USD • Location: Corridor View listings at The Residences at Las Ventanas al Paraíso. lasventanas@snellrealestate.com 14
ONLY 1 RESIDENCE REMAINS Waldorf Astoria Residences, Los Cabos Pedregal Each ready-to-move-in luxury private home encompasses custom designed living spaces, private terraces, an infinity plunge pool, stunning architectural features, the very finest of furnishings and picture-perfect ocean, marina and city views. Endless benefits to ownership. • 7 luxury hillside private homes • Starting at $2.75M • 3 bedrooms • Over 5,580 square feet of luxurious indoor-outdoor Cabo living • Iconic 24-acre site • Location: Pedregal View listings at Waldorf Astoria Residences, Los Cabos Pedregal. waldorf@snellrealestate.com
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The Paraiso Residences Located in the heart of the Cabo San Lucas marina, The Paraíso Residences brings urban luxury living to the foreground. Connected to the famed Luxury Avenue Shopping Mall, this vibrant residential community of private residences and vacation properties delivers architectural sophistication and sleek elegance with one-of-a-kind exquisite marina views. Experience Cabo´s hottest address. • 16 RESIDENCES REMAIN from the initial 58 Bliss Residences Phase I • Starting at $720,000 USD up to $1,680,000 USD • 2 - 4 bedrooms • Location: Cabo San Lucas marina • By the developers FREL View listings at The Paraíso Residences. paraiso@snellrealestate.com
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ONLY 2 UNITS REMAIN The Break at El Arenal The Break at El Arenal introduces 13 remarkable residences each with privileged 220° Sea of Cortez views that overlook the entire bay of San Jose del Cabo. Located on the iconic Costa Azul cliffside, the two- and three-bedroom residences present a turnkey option with amenities including rooftop terraces, pool and bar with lounging area, and a wellness room. In seamless harmony with the surrounding Baja mountains and ocean, homeowners and guests are set to experience a landscape of breathtaking natural beauty. • Turn-key options starting at $959,000 USD • Appliances and furniture packages available • 2-3 bedrooms • Location: San Jose del Cabo • Designed by renowned Mexican architect Javier Sánchez View listings at The Break at El Arenal. thebreak@snellrealestate.com
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ONLY 2 RESIDENCES REMAIN Cabo Mare Cabo Mare is a coastal community that magically merges modern architecture with the organic soulfulness of the earth. Combining contemporary influences, timeless aesthetics and breathtaking panoramic views, these ocean view residences and villas are a true reflection of all things Cabo. Each three- and four-bedroom residence offers up to 4,908 sq.ft of pure luxury living. • Pre-construction houses • Starting from $1,750,000 USD • Model unit ready • Location: Rancho Cerro Colorado • By Californian developer and architecture Kom Studio View listings at Cabo Mare. cabomare@snellrealestate.com
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La Mar A modern lifestyle village inspired by nature and the rhythms of the ocean. Offering a limited collection of villas, La Mar merges thoughtful design, upscale amenities and dramatic views. • 7 properties • Turn-key available • 3-4 bedrooms • Unforgettable sea, mountain and city vistas • On-site amenities • Appealing investment opportunity with excellent rental potential • Starting from $575,000 USD | $10,700,750 MXN* • Location: El Tezal, Cabo San Lucas View listings at La Mar lamar@snellrealestate.com
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Tamarindos Tierra Viva Wellness Villas Nestled in the pristine heart of San Jose del Cabo, find Tamarindos Tierra Viva. This eco-minded community boasts a limited collection of Tamarindos Wellness Villas promising homeowners optimum comfort, privacy and a sense of sanctuary. Built around the thriving self-sustainable destination of Los Tamarindos, this master-planned holistic project brings new meaning to Los Cabos luxury living combining a farm-to-table culture, high-end amenities and the most tranquil of settings. • 160m² air-conditioned 2-bedroom villas epitomizing well-being and luxury • Pre-construction villas • Offering unparalleled value for those seeking a serene oasis in Los Cabos • An array of unmatched amenities • Location: San Jose del Cabo • Official launch end of November, 2023 • By Chef Enrique Silva, Michel Rojkind, Alvarez Tello, ASPJ, Hugo Vargas, Nacho Cadena
Listings coming soon. tamarindos@snellrealestate.com
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What You Call Paradise, We Call Home
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In The Know On The Destination • In July 2023, nearly 347,000 passengers arrived to the Los Cabos airport, representing a growth of 9.3% compared to 2022 • Travelers on international flights represent nearly 60% of total passengers
• Remainder of 2023: 1.2 million seats are scheduled from the U.S; 88.2 thousand from Canada; and 1 million from domestic fligh
• 2023-2024 upcoming new hotels: Grand Velas Boutique hotel (November 2023); the second Four Seasons hotel (February 2024 Park Hyatt (June 2024); Soho House (July 2024); St. Regis Los Cabos (July 2024); Aman Hotel (end of 2024) Source: The Los Cabos Tourism Board
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FOUR SEASONS VILLA “O,” COSTA PALMAS 23
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2023 Award-Winning • Best Luxury Real Estate Agency in Mexico 2023; Luxury Lifestyle Awards • Best Real Estate Brokerage in Mexico 2023-2024; International Property Awards; six years running • Best Luxury Real Estate Firm 2023 – Mexico; Corporate Excellence Awards • Female Executive of the Year 2023, Vanessa Fukunaga; Titan, Women in Business Awards • TOP 100 Real Estate Brokers & Developers of the World 2023; Luxury Lifestyle Awards (currently shortlisted) • 2023 Outstanding Property Award, Villa Love & Peace; Opal Awards (currently shortlisted) • Transaction Of The Year 2023; GRI Awards Mexico (nominee) • Best Overall Company Marketing; Luxury Real Estate (nominee) We are thrilled to once again be distinguished as among the best property professionals from across the globe. These high-level international accolades further recognize our value in the luxury real estate sector and the relevance of continuing to do business at the highest level. Achieving overall excellence takes an expert team who are passionate about their every move and we are proud to be leading the way with competence, market expertise and notable service.
TAKE A CLOSER LOOK 25
Current Featured Listings Below, please find a collection of some of our signature listings available for purchase. For a complete list of exclusive real estate opportunities, visit us online at snellrealestate.com
Four Seasons Villa “O” $45M | $837,450,000 MXN
Punta el Encuentro $22.44M | $417,548,364 MXN
Villa Love & Peace $19.85M | $369,408,500 MXN
Espiritu 71 $17.35M | $322,883,500 MXN
Querencia PH C 501, 502 $10.95M | $203,779,500 MXN
Cabo Colorado Estate #1 $9.99M | $186,099,981 MXN
Las Ventanas Penthouse Residence 6501 $9.95M | $185,169,500 MXN
Oceanfront Development Lot $6.589M | $122,621,290 MXN
Values shown reflect the listing price of each property. 26
Piedras Primeras $75M | $1,395,750,000 MXN
Casita 700 $5.8M | $107,938,000 MXN
Casa Ocho Nueve $5.895M | $111,380,850 MXN
Casa Colina 22 $5.288M | $98,424,568 MXN
Casa Las Glorias $4.9M | $91,189,000 MXN
Casa White $4.8M | $89,328,000 MXN
The Eagles Nest $4.8M | $89,328,000 MXN
Ritz North Enclave 201 $4.2M | $78,162,000 MXN
Casa Flip Flop $3.985M | $74,160,850 MXN
Casa Manzana $3.595M | $66,902,950 MXN N
TOUR AND LEARN MORE
Visit us online at snellrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845
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After 25 years and nearly $3.3B in sales since inception, Engel &Völkers Snell Real Estate continues to innovatively bring Los Cabos to the world. Our extensive market knowledge combined with a drive for excellence makes us the #1 top-producing brokerage in the Baja California Sur. As we continue to monitor current trends and prioritize a market specialization that resonates with the dynamics of buyers and sellers — we keep our finger on the pulse. Thinking beyond the traditional market practices, we are leading the charge forward into the future and revolutionizing the way luxury real estate is sold. ...
snellrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845 info@snellrealestate.com