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Market Overview

The Puerto Vallarta housing market in June 2024 showed significant changes compared to the previous year. Here are the key metrics:

  • Active Listings: 506 (42.9% increase from June 2023)
  • New Listings: 46 (17.9% decrease from June 2023)
  • Pending Listings: 27 (42.1% increase from June 2023)
  • Sold Listings: 18 (45.5% decrease from June 2023)
  • Average List Price: $1,028,260.80 (5.43% increase from June 2023)
  • Median List Price: $660,500 (4.94% increase from June 2023)
  • Average Sale Price: $594,522.72 (22.81% increase from June 2023)
  • Median Sale Price: $432,500 (11.18% increase from June 2023)
  • Average Days on Market: 205 (5.09% decrease from June 2023)
  • Absorption Rate: 22.08 (76.78% increase from June…

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As we dive into the latest data on Puerto Vallarta's condo market, it's clear that the winds of change are blowing through this tropical paradise. Let's break down the key trends and what they mean for buyers and sellers in this vibrant Mexican coastal city.

1. Inventory Surge

Active Listings

The number of available condos has skyrocketed over the past year. In June 2024, there were 1,727 active listings, a whopping 24.4% increase from the 1,388 listings in June 2023. This surge in inventory gives buyers more options but may put pressure on sellers to make their properties stand out.

2. Sales Slowdown

We're seeing a significant cooling in the market when it comes to closed sales. June 2024 saw only 56 condos sold, compared to 83 in June…

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