Realty San Miguel - 37700 San Miguel de Allende
About Realty San Miguel
San Miguel de Allende Market Update February 2022 by Lilia Aguilar.
I have been working with Philip gathering San Miguel´s real estate sales data for a few months and also working with clients. Here are some highlights about February.
San Miguel real estate continues to see some heavy activity, at least in the volume of clients and sales. However, prices have not increased as they have in many other cities in the US and Canada.
MARKET ACTIVITY FEBRUARY 2022
| Feb 21 | Feb 22 |
Properties Sold | 24 | 28 |
Avg Sale Price | $485,867 | $569,759 |
% Below Asking | 9.00% | 8.1% |
Avg Days On Market | 449 | 468 |
Over $1,000,000 | 3 (12.5%) | 4 (14.28%) |
Under $150,000 | 5 (20.83%) | 2 (7.14%) |
% Mexican Buyers | 29.16% | 32.14% |
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Reported Under Contract | 21 | 59 |
Taken Off Market | 7 | 7 |
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Price Reductions | 31 | 22 |
Average Price Reduction | 16.20% | 1.90% |
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New Listings | 53 | 57 |
Average Price New Listing | $525,065 | $652,689 |
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Properties On The Market |
| 713 |
Observations
- The average sales price of homes priced increased 14% to $569,759 USD compared to February 2021’s $485,867 USD. This average is more reflective of two multi-million dollar sales in February than as a drastic increase of the average price as it first appears.
- We continue to see much higher than average sales of homes over a million dollars.
- The number of properties reported Under Contract in February is almost three times the number of reported in February of 2021.
- Although we are starting to see prices slightly increase for homes that are well located and in better than average condition, the main indicators we see as sales activity increases are that there is less negotiation on the actual sales prices compared to listing price and there are fewer price reductions during the listing period. This is evident by comparing February 2021 where the actual sales prices were 16.2% below asking to just 1.9% in February 2022.
Other Influences
- Covid map goes green for all of Mexico – According to Mexico´s daily news, “Mexico Goes Solid Green.”on coronavirus risk map. This means more freedom and more chances of traveling to San Miguel. Restaurants will allow 100% capacity, no restrictions on service time. However, San Miguel is one of the Tourist cities with a more conscious culture. Residents and tourists care about keeping the city a nice place to visit/live. Even though life is going back to normal, many people on the streets wear masks and to enter a public building it´s still mandatory.
- USD to Peso Exchange Rate – The US dollar reached $21.30 MXN in February, according to Banxico. This means foreigners receive more pesos for their dollars, or as we like to say – More Life for Less Money!
- Simplified Visa Process – In response to the global pandemic, Mexico has made it easier for foreigners who work via the internet to obtain residency status here. This is attracting a new demographic of people and also a younger demographic compared to the typical pre-retirement and retirement demographic.
- San Miguel de Allende Nominated the Second Friendliest City in the World- According to Condé Nast Traveler magazine, San Miguel was nominated to be the second friendliest city in the world along with Singapore and Marrakesh. This gives free publicity all over the world and people will want to visit and live San Miguel´s magical experience.
- https://mexiconewsdaily.com/news/coronavirus/mexico-solid-green-coronavirus-map/?utm_medium=webpush&utm_source=jeeng
To read more about the Condé Nast Traveler issue, follow the link. https://www.cntraveler.com/gallery/2015-08-14the-2015-friendliest-and-unfriendliest-cities-in-the-world
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Contact Realty San Miguel
Address : | Calle del Dr Ignacio Hernandez Macias 101, Zona Centro, 37700 San Miguel de Allende, Gto., Mexico |
Phone : | 📞 +88 |
Website : | http://www.sanmiguelrealestate.com/ |
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City : | Gto. |
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Dick Magill on Google
★ ★ ★ ★ ★ We had a fabulous experience with Realty San Miguel. Our Agent Charles Thomas sold our house in 11 days. He is a true professional. We bought our house through him and had such a great experience we listed it for sale with him.Charles became our friend and a great Real estate agent.
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Duane Hopson on Google
★ ★ ★ ★ ★ I had the pleasure of working with Charles Thomas when we purchased our home in Rancho Los Labradores. Charles was very professional, attentive, and made us feel comfortable with every step of the process. Additionally, we have been welcomed to San Miguel by the staff at Realty San Miguel on several occasions. I would recommend using Realty San Miguel to anyone considering purchasing property in San Miguel.
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Larry Austin on Google
★ ★ ★ ★ ★ Charles Thomas and Realty San Miguel handled our home purchase in San Miguel and we could not have been happier. Charles told us what we needed to hear with patience and professionalism. Without a doubt the best Realtor experience we have ever had.
Larry y Jo Austin
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Stephen Brink on Google
★ ★ ★ ★ ★ Great agency, great people!! They really know San Miguel de Allende. Their website is a wealth of information, also. We had an especially good experience working with Charles Thomas, both in buying a home and selling a home. He always has your back.
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Randy Kremlacek on Google
★ ★ ★ ★ ★ We worked with Charles Thomas with Realty San Miguel and purchased a fine home under his professional guidance. His goal was to make sure we made the right decision, armed with the facts of the local marketplace. His honesty and integrity made us confident buyers and happy homeowners. Highly recommended.
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JMark Allison on Google
★ ★ ★ ★ ★ We purchased our home in San Miguel de Allende with the great help of Charles Thomas. He was always available to us and helped us through some hurdles along the way. I would recommend his services and this agency to anyone looking for a home in San Miguel. We now call San Miguel home and are thankful we found Charles to help make that happen.
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John Schwoebel on Google
★ ★ ★ ★ ★ Working with Charles Thomas was a delight! He was extremely thorough, and easily walked us through the process of selling our home here in San Miguel. He’s charming and knowledgeable about the ups and downs of selling a home here and was always honest and up front with us. He’s also a very nice, unassuming guy...so that’s a plus as well. We would use him again!
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William Frantz on Google
★ ★ ★ ★ ★ Our agent, Gloria Farias, was knowledgeable, diplomatically assertive and demonstrated admirable real estate acumen. Her English is very good as well. Our experience with her resulted in the successful purchase of our house in San Miguel de Allende! We highly recommend Gloria and Realty San Miguel.
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