The end of an era?
Remember the yesteryears? Well, in terms of local Real Estate in Los Cabos, those were early 2000’s up until mid-2008. Ahh the great Baja Sur Real estate Market, the ultimate SELLERS’ Market!
Peaks and dips in Real Estate are related uniquely and solely on offer and demand. The more the demand; the less the offer, and vice versa.
A Seller’s Market [in Real Estate terms] means that inventory (houses, condos, lots, etc.) offered for sale is scarce, thus the demand (people looking) are greater, for example:
1 house = 3 buyers = better overall prices in favor of the Sellers
That Era ended in 2008 here in our Local Baja Sur Market, and thus began our BUYERS’ Market! Where the inventory (houses, condos lots, etc.) offered for sale outnumbers the demand (people looking), for example: 3 houses = 1 buyer = better prices in favour of the buyer.
Our Baja Sur buyers have been benefiting from great value in the past few years and have taken great advantage of steals and deals.
Now, before a market changes in favor of one or another, it stabilizes for a while until the next peak. This period is the tricky one for the buyers that are still on the fence or are still “thinking about it”. Some of these buyers believe that “it will still drop” and end up missing the opportunities. In fact, a stable market is as unpredictable and a peak Buyer or Seller Market.
NOW READ CAREFULLY: We are presently in a stabilizing market
Which translate that our inventory right here in Baja Sur is moving (selling!) as the market’s demand gets greater and greater. Sometime in the near future, we will find ourselves in those good ol’ Yesteryears! Who’s happiest? Our Sellers of course!
So this is LAST CALL… If there are any potential buyers out there reading this, the trends are in and this is pretty much the END of This Era! Try not to miss this boat as no one knows if and when it will once again set sail.
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