AMPI Chapter 51

Jan 9, 2012 by AMPI

As we enter this New Year, I would like to wish all our AMPI members and Rocky Point Times
readers a very healthy and prosperous 2012. The Puerto Peñasco community has weathered
another economically anemic year in 2011. While overall the year was reminiscent of 2010 in
some ways, there was progress to be sure in very successful tourism influx during the holiday
weekends. Also, we had several new restaurants open and relocate as well as the continuing
progress of the Old Port and Malecon street project.
Rocky Point’s real estate activity through November 2011, as compared to the same time one
year earlier, reflects a few incremental improvements. The year to date number of active
listings, 568 vs. 636, represents a 10% reduction in inventory this year. The absorption rate,
another inventory measurement, reflects a 12% reduction in number of months to absorb the
inventory of active listings at 47 months vs. 53 months.
The all important number of sold or closed transactions was 132, 7% less than the 143 of 2010.
The average and median list price of residential properties was approximately 14% less than
2010. The good news for buyers was that the median sale price of $172,500 was 27.5% less
than the prior year. As sold and closed transactions slowed down during the last two months of
2011, average “days on market” for the existing inventory increased. Given this characteristic,
look for the median sale price to continue to trend down for a few more months in 2012.
Given that this is my last opportunity to represent the AMPI Puerto Peñasco chapter as its
President, I wish to thank all the members who have helped and provided their personal time
to assist in the continuing improvement of our association, including each of the directors. In
addition, I would like to urge all members to become more involved in your association and to
support the efforts of our new President, Milton Felix Reyes.
Should you have any questions about this real estate data please consult your AMPI sales
professional who can provide you with additional pertinent data customized for your use. I also
encourage our readers to visit our AMPI Puerto Peñasco website,
www.PuertoPenascoAMPI.com, where there is meaningful information for your review,
including a list of AMPI members and a section devoted to frequently asked questions.
Be sure to seek out the services of an AMPI professional for all your real estate needs.
Richard Savino
President – AMPI Puerto Peñasco
Rocky Point Resort Properties
Rsavino1@gmail.com

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