Joining Nick Fong, the broker and founder of Ronival Real Estate, his special guest Gary Massa from San Diego is a real estate agent both at home and in Cabo. In this next episode of The Nick Fong PODCAST, Nick and Gary reveal the first semester 2021 Cabo market report. Gary has been a real estate agent in Sand Diego for 14 years. And, he is a licensed agent in Cabo working for Nick Fong himself.
As we dive into the first semester market report for all of Cabo, Nick Fong presents the facts in the report. Cabo, also called Los Cabos, includes Cabo San Lucas, San Jose del Cabo, and all that sits between and around the area, Continue reading to see just how the market has performed over the first six months of 2021, while the pandemic is taking place and Cabo has been recovering in an amazing way.
Gary Massa has quite a love for Cabo
As he now visits Cabo quite frequently during the last couple of years, both for business and personal reasons, Gary has quite a love for the Cabo area. And as you’ll hear him say in the video, Cabo is relaxing, Cabo is warm, and Cabo is sunny almost 100% of the time. Next, he states that he plans to live in Cabo from 50 to 60 percent of the year. On top of that, he plans to retire in Cabo, maybe sooner than later, as he says.
This combined business in San Diego and Cabo is a natural progression according to Gary. As such, he mentions how he loves to help people find their home-away-from-home in Cabo. His clients either purchase for retirement or for a second home in the Mexican paradise of Baja California Sur.
First semester of 2021 – the real estate market report
As the first notable statistic to report, the number of units that have gone under contract during the first six months of 2021 reveal just how the market is doing. When you watch the video, see how Nick talks about how there’s been 907 properties that have already gone under contract in the MLS so far this year. That’s very impressive indeed! The report includes both condos and houses throughout the Cabo region. By comparison, Gary states that over 2000 units went under contract in San Diego County, just in May. But, when you consider the overall population, that makes sense.
Average sale price in Cabo compared to San Diego figures
In the video, Nick states that the average condo sale price in Cabo is $524,000 USD, which is less than that of San Diego. But when it comes to the average home sale price in Cabo, Nick states that it’s $1,600,000 USD. That’s much higher than in San Diego. The reason for that is there’s been a huge influx of luxury real estate sales, which pushes the average price way up. There are many affordable homes in Cabo, and Nick Fong of Ronival Real Estate is the source when you want a great deal in Cabo.
The average days on market comparison
There is a strange phenomena in San Diego according to Gary. To explain, in 2020, when COVID-19 was quickly ramping up, the number of days on the market was cut in half for some reason. Maybe the reason for that will come out some day so stay tuned.
According to Gary, the average days on market is 15 days in San Diego County. That calculates to about half the amount it was last year. In Cabo, Nick states that the average days on market is 261 days, which is a crazy number compared to San Diego. But, compared to last year, where the average days on market was 339 days, which is a significant reduction in just one year.
When comparing to Cabo in 2018, the number of days on the market was 412. That means, Cabo is really crushing it. And, that is awesome news for the market in Cabo and throughout Baja California Sur! Be sure to watch the video to see what else Nick Fong and Gary Massa reveal about the first semester real estate market report in Cabo and how it compares to San Diego. Their first-hand knowledge is very impressive!
Click HERE to download the 1st semester 2021 Cabo market report for yourself.
Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions. You can also schedule a time to show you around this breathtaking location.
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Thank you for reading See the first semester Cabo market report from Nick Fong & Gary Massa. Be sure to read other posts about Cabo and Baja California Sur on the Ronival blog. There, learn about the many wonderful aspects of Baja California Sur, Mexico, from blog posts like this.