Fluvial is weird from what I've noticed over the last 3 years observing it, back in early 2021 houses were going for 350k, then spiked to 500k in the middle 2023 for no reason at all because they were still building and providing greater inventory, then when they slowed down construction in the area prices came down to 475k, and now they're back up again hitting 550k and sometimes beyond. I don't understand this at all, these houses are nice and all but they have almost no land, they're built town house style, usually have no pool or very small pools, pools that if in the back "yard" have no sun light because it's being blocked from other homes. If someone could explain this to me, or make any sense of the market in that neighborhood please let me know.

475k seems about right for a 5bdr in fluvial. don't get gringo priced, wait it out until prices start to come down.

I'd say it's the 30% increase in prices.

Puerto Vallarta right now is way overpriced. The median price in 2023 was $336k and in February 2024 the median dropped to $300k. The average sales price in 2023 was $400k snd has dropped in February 2024 to $393k. The other important aspect which I think pinches the pocketbook is the peso which was $16.79 to $1 USD. This makes purchasing power a lot less. Right now, even with interest rates high, the USA is still a better real estate investment. If I was going to purchase anywhere in Mexico I would wait till November or December to see if the peso actually does drop to $17.50 as anticipated by the federal reserve of Mexico. I love my country of Mexico having been born here but I am also realistic of the markets in both beautiful countries, Mexico and the USA. Hasta luego amigos 😊

The beginning of the video is the Kupuri neighborhood of Nuevo Nayarit. The interview with Nik is in the beachfront complex of One Beach Street in Amapas. The thumbnail is from a complex in Zona Romantica

Several years ago you could build for approximately $11,000 pesos, the price for building over the last year or so has been in the $25,000 to $28,000 pesos/m2.

@@nikvalcic1875 ah the gringo price has kicked in, well the best way to offset that is to get builders from other area of the state.

@@hoppeanofasgard1365 Unfortunately, that is not the case. It has to do with the price of steel , concrete, aluminum, and other commodities. There is also a shortage of workers, so that increases your costs. I am involved with several large development projects so I hear these details direct from the developers.

@@nikvalcic1875 So is this a phenomena in only Puerto Vallarta or are these shortages and higher prices effecting all of Mexico? where does Mexico get it's steel and concrete?

@@hoppeanofasgard1365 Inflation and supply chain issues are a global phenomenon.

I tend to agree, and once Americans and Canadians can no longer afford these inflated prices they're going to drop like a brick. Heck some foreign owned properties might need to be liquidated to help some families stay afloat if they over extended them selves.

Hola, my name is Nik and I work with Gary. I spend a lot of time analyzing the real estate data, and unfortunately I have to let you know that you are incorrect. As of April 19, the average sold price for condos is $439,042. I analyze the data monthly and it has not gone down since 2021. I'm happy to share these data with you if you like.

Deeded properties listed in our PV MLS, which is part of Mexico's national real estate association (AMPI), are normally priced by looking at similar comps in their neighborhood - regardless of whether they're owned by Mexican citizens or foreigners. There is a market outside of AMPI, but most brokers here recommend that foreign buyers stay within the MLS

@@hoppeanofasgard1365 You may in fact be able to find some properties that are not listed on the MLS for less, but likely they would be in areas that you would not want to live in. Let's use the Marina area as an example, and this is an actual example. I was driving through the neighborhood and spotted a for sale by owner so I pulled over and knocked on his door. He was kind enough to let me in and chat with me even though I told him I was an agent. He had his home over priced relative to the other AMPI listed homes on his street (there were several). Getting back to your question (and Gary's answer) homeowners in general, but especially Mexican nationals have a tendency to overprice their properties. The national mentality here is I'll start way high and we can negotiate down. What they do not understand is that when a property is seriously overpriced, you won't have anyone to negotiate with. Buyers agents and buyers in general won't bother looking at properties out of their price range or if they are overpriced. Several other factors why agents stay away from non AMPI sales are: 1)How are you going to find these homes? Craigslist? Facebook? Road signs? Each of those techniques have been around for a long time and do work, but they are a ton of work, and they are very hit and miss. When/if you do find such a property for sale, you will have to dig for information, call ask about the size, number of bedrooms etc etc - all the stuff that you would find in a second by looking at the MLS listing. 2)In order for a property to be listed on the MLS, a variety of legal factors need to be verified, homes that are not on the MLS are immediately suspect. As a buyers' agent, I won't take a client to a property that is not listed on the MLS. If a buyer finds a property that they really want and it's not on the MLS, it's also highly likely that I won't take that job. It's a ton of extra work. If the house is being represented by an agent, then the agent is non-AMPI and I'll have to do all the legal work for him (if he is not AMPI likely he has no clue what he is doing), if the property is for sale by owner, same answer - I'll end up doing all the work. There may be one or two exceptions where getting involved with a non AMPI property is feasible, but it would be rare.

Hey there, this is Nik and I work with Gary. I do check out the MLS daily and download buckets of raw data from them weekly. As of April 19 prices are up 8% vs the same period last year (Jan 01 - April 19) average prices are up 10%. Sales are down, as is normal in a US election year, but prices remain. With Mexican consulates in the USA and Canada jammed with folks looking for their residency and with the continued retirement of the boomers and early retirement of the X'rs, I don't anticipate much slowdown over the next few years.

Those were the statistics taken direct from the MLS at the time of filming. We don't make this stuff up. We are salesmen for sure, but we base our information on legitimate statistics that we get from the official AMPI MLS portal.

@@nikvalcic1875 I hope realize that MLS portal doesn't cover all properties listed in PV. without looking at other sources like inmuebles and icasa, you'll never have a full understanding of the market.