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Real Estate Statistics

J o h n Yo u d e n , g e n e r a l d i r e c t o r o f Producciones Viva, opened the conference by presenting statistical information he had compiled from operating the multiple listing service (Multi-List Vallarta) for the Vallarta real estate associations over the past 17 years. The MLS service, prior to 2004, had seen modest growth in total sales reported, with $35 million USD established in 2003. In 2004, however, the market took off, with $94 million in sales reported, nearly tripling from the previous year. The same happened with new real estate development. Before 2004, sales were estimated to be less than $150 million. But with many new projects coming online in 2004, this increased to nearly $300 million, and nearly $500 million in 2005. New real estate development now supplies the majority of the product to the market, with the MLS comprising less than 15% of available real estate for sale, the remainder being provided by developers. This is down from 25% in 2003. To continue to have enough inventory for the strong demand they are experiencing, real estate agencies are now selling new development product more than ever, and many are also handling the marketing for small developers. 174 | VALLARTA Lifestyles | Summer-Fall 2006

Since 1999, condominiums have appreciated annually by 12%, while homes have increased annually by 15%. Traditionally, two-bedroom condominiums have been most popular, comprising 60% of the market. In today’s market, however, the public seems to prefer three-bedroom units, which now comprise 45% of all condominiums presently under construction. Even the two-bedrooms are delivered with an entertainment room or office, which is often referred to as an additional “half bedroom,” offering 2.5 bedrooms. In 2004 the difference between listing prices and selling prices was 8.6%. Last year that dropped to 6.7%. All indications are that this very strong market will continue, especially with the availability of mortgage financing. To date, this robust market has grown on primarily a “cash-only” basis. As mortgages become readily available, sales will take off, as will appreciation.

Estadísticas de los Bienes Raíces

J o h n Yo u d e n , d i re c t o r g e n e r a l d e Producciones Viva, abrió la conferencia presentando información estadística recopilada al operar el Servicio de Listado Múltiple (MultiList Vallarta) para las asociaciones de bienes raíces de Vallarta durante los últimos 17 años.

Antes del 2004, el servicio de MLS había tenido un modesto crecimiento en ventas reportadas, con $35 millones de dólares producidos en el 2003. En el 2004, sin embargo, el mercado despegó reportando $94 millones en ventas, casi el triple a las del año anterior. El nuevo inventario de desarrollos experimentó un aumento similar en ventas generales. Antes del 2004, las ventas se estimaban en menos de $150 millones, pero con los nuevos proyectos del 2004, estas aumentaron hasta casi $300 millones, y casi $500 millones en el 2005. Los nuevos desarrollos de bienes raíces ahora proveen la mayoría del producto en el mercado, con el MLS constituyendo menos del 15% de todos los bienes raíces en venta, y el resto ofrecido por desarrolladores, comparando con el 25% que representaron en el 2003. Para continuar teniendo suficiente inventario para la enorme demanda que están sufriendo, las agencias de bienes raíces ahora están vendiendo nuevos productos y están manejando el mercadeo para los pequeños desarrolladores. Desde 1999, los condominios han tenido una plusvalía anual del 12%, mientras que las casas han aumentado un 15% anualmente. Tradicionalmente, los condominios de dos Visit: www.virtualvallarta.com

Vallarta Lifestyles Spring Summer 2006  

Featuring our annual "Best of Vallarta" section.

Vallarta Lifestyles Spring Summer 2006  

Featuring our annual "Best of Vallarta" section.