Let’s look at the number of condos for sale in our MLS FBS inventory in the Bay of Banderas – Nayarit and Jalisco
Active
As of today, there are 1,606 active condos for sale. I am looking at some of the main features buyers ask for.
Pet Friendly: 1,541 are pet friendly; 66 do not allow pets.
4% of condos do not allow pets. When advising a seller who wants to sell quickly, it is helpful if the building allows pets for owners. There are a number of buildings allowing only owners to have pets. Fewer agree to pets of renters.
If you are buying a condo, it is important to have a written copy of what the pet allowances are in the building you are interested in buying. These rules and regs for pets need to be in the formalized rules and regs registered in the public registry.
Many buildings do not allow pets at the pool or on the grass, so know what you are facing before you purchase the property. To change condo rules and regulations, a much higher percentage vote than 51 % is required.
Active condos having pools are 1,464 out of 1606 – 91%. Whether the pool is heated or not is not a line-item currently. So, you need to ask, and the HOA fees may be a clue for the cost of the pool maintenance and heating.
How many condos have gyms? 989 are reporting out of 1,606 – 61%
At this point there are no guidelines or definition of what constitutes a ‘gym.’ New owners can become upset when they learn the gym is a set of weights and one treadmill. New developments do not define much so this ends up being the decision later of the developer.
Elevators are in demand from most buyers, regardless of the age of the property. Reporting elevators in common areas are 384 of the 1,606. None of these amenities we are reporting are required fields, so there may be agents not listing elevators in their listing profiles.
Sold
Today, we have 960 condos reported sold by April 3, 2023, for the year.
900 are reported as pet-friendly – 93%, so 7% are not pet-friendly.
Elevators are 728 reported of the 960, so 75% with.
858 condos have pools out of 960, so 89%.
473 gyms reported, 49%.
These statistics can be off if the agents have not checked the optional boxes I have used. My goal was to see if I could tell if, if these amenities are missing, the prices paid are lower than for buildings with more amenities.
At this point, there does not appear to be big differences, except those without pet-friendly also included sales at lower prices but went as high as the top prices paid with pet-friendly.
This article is based upon legal opinions, current practices, and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review.
