Welcome to The Nick Fong PODCAST, where today, we’ll be revealing the 1st semester 2021 Cabo market report. Joining Nick is his special guest, Gary Massa from San Diego. Gary is a real estate agent in Sand Diego, where he’s worked for 14 years now. But also, he is a licensed agent in Cabo for Nick Fong, the broker and owner of Ronival Real Estate.
Diving into the 1st semester market report for all of Los Cabo, which includes Cabo San Lucas, San Jose del Cabo, and everything between and around the area, Nick Fong presents the facts in the report. Now, read on to uncover how the market has performed over the fist six months of 2021, while COVID-19 is still taking place and Cabo is recovering well.
Gary Massa’s love for the Cabo area
Now visiting Cabo more frequently over the last couple of years for both personal and business reasons, Gary loves the Cabo area. As he says in the video, it’s relaxing, it’s warm, and it’s sunny pretty much all of the time. Also, he says that he wants to live there 50 to 60 percent of the time. And, he would love to retire in Cabo, which might be sooner than later.
Gary calls his combined business in both San Diego and Cabo a natural progression. He loves helping people find their home-away-from-home in Cabo, either for retirement, or for a second home in this Mexican paradise.
2021 first semester real estate market report
The first notable statistic to report is the number of units that have gone under contract during the first six months of 2021. In the video, Nick states that there’s been 907 have already gone under contract in the MLS since January, which is amazingly impressive. That includes both condos and houses throughout Cabo. 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 days on market
In San Diego County, the average days on market is 15 days. That is 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.
Gary identifies with a strange phenomena in San Diego. 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.
Regarding Cabo in 2018, the number of days on the market was 412. That means, in 2021, Cabo is crushing it according to Nick. That’s great news for the market in Cabo and throughout Baja California Sur! Now, 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 indeed.
The average sale price in Cabo vs. San Diego
According to Nick Fong, 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.
Click HERE to download the 1st semester 2021 Cabo market report.
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.
Ronival on YouTube
See Nick Fong in action on his Ronival YouTube Channel. Find his videos on the Rovival VLOG, where you can read a short, yet in-depth post. Below is an example of one of Nick Fong’s Ronival videos:
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.