We now begin the summer season, and spring is in the rear view mirror. Anecdotal evidence indicates that the last 3 months have been very active with a higher level of visitors than normal for this time of year. Local businesses have enjoyed an uptick in volume as well. This bodes well for our town of Puerto Peñasco.
There have been a number of very positive developments and public pronouncements of late. They include; positive updates on the construction of the breakwater and pier for the cruise ship home port, continued street construction in various sections of town, announcement regarding a new charter air service from Scottsdale, AZ airport to Puerto Peñasco. These positive issues may have something to do with an increase in real estate activity during the last 6 weeks. Not all of which shows up in recorded sales. But from my vantage point, there is much more activity from potential investors and buyers who have recently decided to investigate the local real estate market and are looking carefully at their investment options in land, condos and single family homes.
Residential real estate activity for the first 5 months of 2015 also had positive results. Below is a comparison of May 2015 vs May 2014:
May 2015 May 2014
Number of sold properties: 16 12
Number of pending sales: 14 14
Properties for sale in MLS: 509 497
Median sale price: $171,000 $160,500
While sales have increased, the significant statistic above is the Median Sale price which now begins to favor the seller. Buyers should find their properties now and negotiate seriously to close a deal. If this trend continues, then values will continue to increase making future purchases more costly for buyers.
Additional year to date activity is highlighted below:
YTD May 2015 YTD Mar 2014
Number of sold properties: 52 46
Number of pending sales: 64 51
Properties for sale in MLS: 666 642
Median sale price: 167,250 162,369
While the dream of a house near a beach has always had its allure, Mexico as a retirement option for people in the USA and Canada makes more sense all the time. The dollar exchange is extremely strong versus the peso and the experts predict it will remain so for the balance of 2015. If owning property in or moving to Mexico is a possibility in your future, you can move forward with confidence in real estate practices and professionalism here in Rocky Point. You can find a Sonora licensed AMPI real estate agent in Puerto Peñasco / Rocky Point to help with your real estate needs at www.RockyPointAMPI.com.
If you have questions about the information presented here please feel free to contact me. In addition, if you have questions about our market and desire to seek more detailed information please contact a licensed professional from our AMPI organization.
Richard Savino is the Designated Broker for Realty Executives Rocky Point and is a Past President of the Puerto Penasco chapter of AMPI. He can be reached at firstname.lastname@example.org or 480 707-3822 US.