Welcome to Our Real Estate Market Update for May 2025.

Although May was the slowest month this year, which is typical, the number of resale sales still exceeded the number of resale sales in May of 2024. Overall, we have seen over 46 sales per month in 2025 compared to 32 per month in 2024. If sales continue as they have in the first five months of this year we are on track to seeing close to 560 resale sales compared to 389 last year. That would reflect a 43% increase in the total number of sales compared to 2024.

Through the end of May we have averaged over $27,000,000 USD in monthly sales compared to the average of $21,000,000 in 2024.

Although it appears that the average resale sales’ price of $588,965 USD is substantially lower than $650,462 USD in 2024 this is somewhat a reflection of the fact that fewer homes priced over $1.5 million dollars, particularly the multimillion-dollar ones, have sold this year compared to last year. So that may make up for half of the difference in the average price sold. However, you can also see that there is a growing number of Months of Inventory in several price ranges. This puts downward price pressure on sellers who have properties in those price ranges.

Where’s the market going?

There is so much happening geopolitically in the world, including between the US and Mexico, which is outside of the trends we followed just a couple of years ago, it is difficult to know what will happen. However, I tend to believe that San Miguel will remain a popular destination, and sales will remain strong. I hope I am wrong, but I tend to believe the conflicts surrounding deportations and the protest in the US will not end quickly and may last for many months. Social instability and violence in the US will continue to push many towards Mexico.

Thanks,
Team Realty San Miguel