March Market Updates
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If you've been watching our market over the past months, you've seen new listings and price adjustments resulting in a buyers' market. With higher inventory levels and sellers reducing prices in response to market demand, now is the time to take advantage of the opportunities.
San Miguel Market Snapshot
This chart shows the inventory added each month throughout 2019 compared to the number of homes under contract. In 2020, we continue to add new listings each month almost at the same pace as 2019. Time on market also increased significantly from 2018 to 2019, so we are seeing price reductions as the market leveling process takes place in San Miguel.
What does this mean for buyers?
1) More home for less money. Sellers have reduced the prices and the market is slowly adjusting. Right now, you get more home for less money in more desirable location.
2) Now is the moment to buy. Showing activity is picking up in 2020 and our inventory is moving in response to price adjustments and increased buyer interest.
If you're thinking about investing in San Miguel but not sure about the process, download our guide to buying and owning property in San Miguel. We've addressed the key questions first time buyers in Mexico ask our agents
Are you selling a home in 2020?
There are some things you can do to optimize your property for this market.
1) Price your property to sell. Make sure your property is priced based on the 2020 market. Properties priced correctly get more views, showings and ultimately, offers. Savvy buyers are watching the market closely and looking for the best values.
2) Schedule a tax consultation. Lowering the price of your home or having a new appraisal may result in lower capital gains that offset the price reduction.
Call your listing agent and ask for a new valuation based on today's market conditions.
Featured Homes
CASA ORQUIDEA
Own a slice of San Miguel history with this Robert Burillo designed estate home built overlooking the orchid gardens of Sterling Dickenson.
CASA ACAMAPIXTLE
Half a block from Live Aqua, this light-filled home offers panoramic views of the city and botanical gardens.
VILLA HISTORICA
Breathtaking estate in the heart of historic Atotonilco with mature gardens, pool, and gourmet kitchen.
CASA SUSY
A great value under $200k, this charming cottage is located on one of the best streets in San Antonio.
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