Cabo San Lucas Covid Update and Market Report

From our Friend Michael Nicol and the Cabo4Sale Team.
https://www.cabo4sale.com/

“I hope this mail finds you and your family well!

We wanted to give you an updated Covid report from the Los Cabos Tourism board which keeps us up to date with the latest information in English. 
The virus has impacted Los Cabos, but all confirmed cases have been in quarantine and are under close medical supervision to avoid the spread of the virus. Real-time updates of COVID-19 in Baja California sur can be found here: https://coronavirus.bcs.gob.mx/english/

  • The Los Cabos Tourism Board continues to monitor the situation and communicate guidance offered by the Mexican authorities. Travel information related to the coronavirus is being shared on their digital channels.
  • Los Cabos is currently open to travelers and tourism activities as of June 15th, 2020.
  • The government of the state of Baja California Sur announced a new color-coded classification to be given to local establishments, such as hotels, restaurants, tour operators, and convention centers, to name a few, that determine the level of safety they can offer and whether or not they are able to open to the public. As of June 15th, 2020, Los Cabos is categorized in stage 5, which allows for and requires:
  • Non-essential activity to be reopened and conducted
  • Businesses to maintain occupancy at a rate of 1 person per 13 feet
  • Recreational and social activities to operate at a 30% capacity
  • Tourism is the heartbeat of Los Cabos. 90% of our population depends on this industry and we are committed to effectively communicate the latest updates on the virus in the destination.

You are required to wear a mask when indoors such as grocery stores and restaurants (unless you are eating or drinking). The government recommends masks outside but wearing a mask outside is not enforced.
Currently we 657 cases with a population in Los Cabos of approximately 175,000 (according to statistics I found in 2015).
Since Tourism was shut down on March 20th, 2020, we were not sure what to expect regarding Real Estate Sales. We figured we could take a little time off to unwind and relax, but thankfully we were wrong. We were contacted by clients that were on the fence but now decided to move forward with their purchase as well as new clients that had extra time to explore the internet. Other real estate companies were also contacting us because they had clients interested in our listings (which was hard to do because for 3 months we could only send videos and virtual tours).
I decided to compare the Los Cabos stats from March 2019 to July 31, 2019 to the same period this year, and this is what I found: Condos overall in 2019 under contract 196 units and for the same period in 2020 we there are 129 units. For homes overall we had 179 in 2019 and 130 homes for 2020. Even though the stats are down, we were completely shut down for 3 months and hotels are only allowed 30% occupancy. We see these numbers as a very positive sign for our market. There are some deals to be found but the average home price actually went up 2% from $593,352 in 2019 to 608,776 in 2020.
We do have a lot of new and exciting listings to share with you. I hope we see you here as soon as it is safe for you to do so.

Best Wishes,
Michael Nicol and the Cabo4Sale Team”

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