What Kind of Real Estate Was Sold in 2012 in La Paz and for How Much?

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What Kind of Real Estate Was Sold in 2012 and for How Much?
By Susan Fogel
The quick answer: Not a whole lot and certainly not at top dollar!
According to the Multiple Listing Service (MLS) figures, 73 units were sold in 2012 in La Paz. That includes 21 detached homes, 22 condos, and 30 building lots. By comparison, only 18 units were sold in 2011. Of the four detached homes that sold in 2011, only one sold for more than $500,000. In 2012, two homes and one condo sold for more than $500,000. Here are some figures for the properties that sold last year:

Price Range (USD) Houses Condos Lots
0-     30 k 0 0 13
0-     40 k 1 0 5
0-     50 k 1 0 2
51-100 k 7 2 2
101-160 k 5 7 5
161-200 k 4 7 0
201-250 k 0 2 2
251-300 k 0 3 1
301-400 k 1 0 0
500 k+ 2 1 0

As of 31 December 2012, there were 195 homes, 94 condos, and 243 lots considered as active listings. These are listings currently on the MLS, waiting for a buyer. Of these 532 properties, only 73 sold last year. These are not exciting numbers, but real estate sales in 2012 were four times the sales of 2011. That is good; it means there is movement in the market. So far, 2013 is looking up, with expectations of more activity. But, sellers must be cognizant that sales are slim, and what is selling is mostly low-priced properties. When a seller says to their agent that they will wait for their price, consider this: Based on 2012 figures, if no additional houses came on the market and prices remain the same, it would take 103 months to sell all of the houses currently listed, lot owners may wait 126 months, and condo owners may wait 24 months. But more properties are coming on the market every day, so the wait will probably get longer.
The average days on the market by year end 2012 ranged from 491 days for condos, 297 days for houses and 188 days for lots. Want to sell your house fast? Take a deep breath, set your emotions aside, and cut your price. By having your home on the MLS, you have worldwide exposure and can be confident that the member agent you choose to work with subscribes to a higher standard of practice. Happy New Year, let’s sell some houses!

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