Cabo Real Estate Market Update
Cabo Real Estate Market Update 2025
Are Sales Higher or Lower Than Last Year? A Look at Houses, Condos, and Land
The Cabo real estate market in 2025 continues to show strong growth overall, building on the momentum from 2024. Here’s a detailed breakdown of how the market is performing across houses, condos, and land.
Total Sales Volumes
Sales are up +25% year-over-year.
- 2024: $390,207,628
- 2025: $487,825,163
Condo Market Update
Condo sales across Baja Sur are up 1% year-to-date:
- 2024: $136,259,387
- 2025: $138,723,943
Condos represent 28.4% of the total MLS sales in 2025.
Tezal has been a standout condo market, with condo sales up 21%:
- 2024: $34,844,593
- 2025: $42,327,158
- Average Sale Price in Tezal: $571,000
In San Jose del Cabo, condo sales are up 37%, and the average price has increased by 10% to $729,096.
House Market Update
House sales have soared in 2025:
- Total Home Sales:
- 2024: $176,850,501
- 2025: $304,074,324 (+71%)
- Number of Houses Sold in Baja Sur: Up 23%
Cabo Home Sales (CSL + Cabo Corridor):
- 2024: $25.6 Million
- 2025: $58.5 Million (+128%)
The San Jose del Cabo Corridor holds the highest average home prices:
- 2025 Average Sale Price: $5,782,143
- 2024 Average Sale Price: $3,993,269
- Price Growth: +44%
(Includes exclusive communities like Palmilla and Querencia.)
The Only Market with a Decline:
- La Paz: Home sales are down 28% year-to-date.
Homes represent 62.4% of total MLS sales in 2025.
Land Market Update
Land Sales are down 41% compared to last year:
- 2024: $77,097,740
- 2025: $45,026,896
Land sales make up 9.2% of total MLS sales in 2025.
Interestingly, even with lower land sales volumes, many buyers who previously purchased land are now moving forward with construction projects — largely due to a stronger USD:MXN exchange rate stabilizing building costs.
Market Spotlights
Pacific Side Golf Communities:
- 75% of Pacific side sales are in golf course communities.
- $85,065,750 total closed so far in 2025.
- $63,992,000 closed in Quivira, Diamante, and Rancho San Lucas alone.
These premier golf communities are seen as a natural extension of Cabo, starting just above Rancho San Lucas.
Loreto:
- The fastest-growing market in Baja Sur for 2025.
- Reminiscent of La Paz’s strong growth in previous years.
- Challenges: Limited flights and first-world amenities — but opportunity for early investors.
East Cape:
- Home sales are up 79%:
- 2024: $7,219,500
- 2025: $19,941,400
- Current Active MLS Listings:
- Homes: 145
- Condos: 18
While East Cape has opportunity, the region still faces challenges: limited infrastructure (roads, water, electricity) and a lack of organized HOA communities. Unlike the Pacific side with Todos Santos anchoring growth, East Cape development is more scattered — but momentum is picking up.
Other Key Insights
- Main Golf Courses in San Jose del Cabo: Puerto Los Cabos, Campestre, Querencia, Palmilla, and Cabo Real. (Not counting El Dorado or Vidanta.)
- Formula for Growth: Beach Club + Private Golf Course = Higher Prices. Watch Puerto Los Cabos, Cabo Real, and Campestre closely.
- Off-Market Sales: An estimated 25% of Cabo's sales are happening off MLS.
(Meaning actual total sales volume in 2024 approached $2 Billion.)
Pedregal Snapshot:
- Currently for Sale:
- 52 homes
- 66 condos
- Closed Sales YTD 2025:
- 5 homes
- 8 condos
Final Thoughts:
Pricing is Increasing.
Overall, the 2025 Cabo real estate market is healthy, with strong growth in homes and condos. Land sales have softened slightly, but building activity remains high. Opportunities remain — especially in up-and-coming areas like East Cape and Loreto — but premium communities with golf, beach clubs, and private amenities continue to drive the most impressive price increases.
Fletcher Wheaton
MX - 624.229.5228
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