Puerto Vallarta apartment asking prices fell 2.4% in August, while PVDN found no public source with a complete citywide count of the month’s closings.
A national listing portal put apartment asks at 73,322 pesos per square meter. Its median apartment value was 7.6 million pesos, up 5% from January despite August’s monthly decline.
The portal’s house series showed 47,110 pesos per square meter and a 6.75 million-peso median. The median declined 0.4% from July and 13.6% from January.
Those figures measure advertisements, not deeds. The most detailed post-August transaction analysis covers Jan. 1 through Sept. 10 and includes communities around Banderas Bay.
How the August market affects buyers, sellers and residents
Buyers entered September with evidence for negotiating below list price. A baywide settled-sales study found a 5.2% median reduction from the first asking price to the closing price.
Sellers faced a longer wait. The same study placed median marketing time at 232 days, 45% longer than one year earlier. Only 12% of properties sold within 90 days.
Residents should not read the region’s large active-condo count as a count of finished, vacant homes. Half of the active supply in a regional settled-sales study was preconstruction.
That distinction changes how readers interpret listings near Olas Altas, Basilio Badillo or Calle Viena. PVDN has separately examined how tower growth is testing public planning.
Citywide averages also obscure the local housing market. PVDN’s August affordability review found lower advertised prices in Vista Hermosa, Las Aralias I, Los Tamarindos and Delfines. Those neighborhoods sit far from prime coastal pricing.
For this report, I reviewed public MLS summaries, listing portals, and a local broker’s analysis. I also checked Banco de México data and the federal housing index. Their dates and geographic boundaries do not align.
What each public number measures
| Public measure | Period covered | Geography | What it measures |
|---|---|---|---|
| August portal prices | August 2026 | Puerto Vallarta | Advertised apartment prices |
| Post-August transaction analysis | Jan. 1-Sept. 10, 2026 | Puerto Vallarta and the wider bay | Reported condo and house sales |
| Settled-sales study published in August | Aug. 1, 2025, through July 31, 2026 | Puerto Vallarta and Banderas Bay | Closed prices, discounts and selling time |
| Live MLS inventory snapshot | Sept. 15, 2026 | Puerto Vallarta and Riviera Nayarit | Active asking prices and inventory |
| Federal housing index released Aug. 10 | Second quarter and first half of 2026 | Mexico and individual states | Appraised values of mortgaged homes |
The table explains why the numbers cannot be combined into one August total. They remain useful when each is kept inside its published boundary.
Closed sales show a divide inside the condo market
Two publicly indexed MLS records provide August-specific examples. Seaview Residences 202 in Amapas closed Aug. 25 for $299,000 after 106 days on the market. It sold at 100% of its final list price.
Zo-Ho Skies 1301 T2 in the Hotel Zone closed Aug. 31 for $575,000 after 151 days. It also sold at 100% of its final list price.
Those two listings show that August transactions occurred, but they are not a complete or representative sample. They cannot establish the month’s median price, total closings or typical discount.
A September market analysis by local real estate agent Will Hutt reported 699 condo sales through Sept. 10. The comparable 2025 period had 893, a 21.7% decline.
The analysis placed condo sales volume near $354.8 million in U.S. dollars. The average sale price rose about 4% to $507,545, even as fewer units changed hands.
An August settled-sales study counted 1,340 residential closings in the 12 months through July, up 17.8%. Its median sold price rose 8.3% to $403,000. The median price per square meter fell 1.8% to $3,882.
Hutt estimated that resale-condo sales increased to about 499 from 427. Estimated preconstruction closings fell to about 200 from 466.
| Broad bay condo sample | 2026 through Sept. 10 | Comparable 2025 period | Change |
|---|---|---|---|
| Total condo sales | 699 | 893 | -21.7% |
| Estimated resale sales | 499 | 427 | +16.9% |
| Estimated preconstruction closings | 200 | 466 | -57.1% |
That period extends 10 days into September, so 699 is not an August sales count. PVDN also did not subtract it from another report’s July total because filters and classifications may differ.
The last complete one-month comparison I could verify was July. The Aug. 6 market pulse explicitly states that it reads July data.
That pulse reported 69 condo closings, down 19.8% from one year earlier, and 25 house closings, down 13.8%. Condo sales totaled 601 through July, compared with 800 in 2025.
The July condo median fell 8.1% to $337,850. The house median rose 35.7% to $555,000. Three houses sold between $2 million and $3 million, compared with none one year earlier.
The house market showed less movement in its closing count. Hutt reported 221 completed sales, down from 231. The median price was $415,000, compared with $417,685 one year earlier.
Inventory expanded, but public counts conflict
An early September market pulse reported 3,255 active condo listings, up 24% from 2,623. It also said condo days on market rose about 5% during the month.
Hutt’s analysis counted 1,400 active house listings, compared with 1,224. Completed house sales declined to 221 from 231, while median selling time increased to 222 days from 191.
A separate live MLS feed counted 4,125 baywide listings on Sept. 15. That total included 2,869 condos, 789 houses and 467 land listings. The median asking price was 8.3 million pesos.
The live feed refreshes several times daily and covers Puerto Vallarta and Riviera Nayarit. It is not a municipality-only inventory count.
The public inventory series also contains a sharp break. The same brokerage’s Aug. 6 pulse reported 2,801 active condos for July, down 15.4% year over year.
Its September pulse reported 3,255 and a 24% annual increase. The pages do not explain the methodological break. I treat both as snapshots rather than one continuous index.
Discounts depend on which asking price is used
Hutt’s resale sample closed at a median 96.2% of list price. That implies a 3.8% discount from the listed figure used in his analysis. Median resale time rose to 184 days from 160.
The 12-month settled-sales study found a larger 5.2% median cut when it measured from the first asking price. It said 67% sold below ask, and 11% sold above ask.
That study reported 232 median days on the market. The 25th percentile was 132 days, and the 75th percentile was 395 days. It also found 29% remained unsold after one year.
The live MLS analysis offered a third check. Across about 1,000 closings during the previous 12 months, it reported a median closing at 97% of asking price. Its median sold price was $3,692 per square meter, compared with a $3,845 median ask among active listings.
The three discount figures use different baselines. The study measuring the first asking price captures reductions made before the final list price.
Neighborhood results moved in different directions
The August-published settled-sales study provides the clearest comparable neighborhood table. It covers the 12 months through July, not August alone.
| Puerto Vallarta area | Median sold price in U.S. dollars | Year-over-year change | Sold price per square meter in U.S. dollars | Median days on market | Resale supply | Preconstruction share |
|---|---|---|---|---|---|---|
| Zona Romántica | $425,000 | -4.9% | $5,231 | 213 | 12.8 months | 54% |
| Centro and 5 de Diciembre | $357,000 | -5.6% | $3,896 | 180 | 12.8 months | 59% |
| Conchas Chinas | $978,000 | +2.9% | $5,182 | 190 | 16.2 months | 5% |
| Amapas | $725,000 | +7.4% | $4,312 | 181 | 16.9 months | 53% |
| Marina Vallarta and Hotel Zone | $510,000 | +34.2% | $4,178 | 321 | 22.4 months | 66% |
| Versalles and Fluvial | $329,000 | -7.1% | $3,372 | 274 | 13 months | 69% |
The study cautioned that “median sale prices are mix-sensitive and reflect what sold, not pure appreciation.” The 34.2% Marina and Hotel Zone increase, for example, does not mean every home appreciated by that amount.
A Sept. 15 asking-price snapshot showed another layer of variation. Lower Conchas Chinas led at $7,066 per square meter. Zona Romántica followed at $6,472.
The snapshot placed 5 de Diciembre at $4,842 and Marina Vallarta at $4,518 per square meter. Amapas stood at $4,494 and Versalles at $4,048.
Those are active asking prices. They should not be compared directly with the sold-price table.
For properties on Paseo de la Marina, Avenida Francisco Medina Ascencio, or Carretera 200, I would use nearby closed sales. A city median cannot adjust for floor, view, parking, condition, or steep hillside access.
Resale and preconstruction now move on different clocks
The settled-sales study found that preconstruction represented 50% of active listings but 28% of closings.
Preconstruction sold at a median of $4,102 per square meter, 11% above the $3,693 resale median. Its median marketing time was 373 days, compared with 199 for resale.
As of July 31, the study listed 618 units scheduled for 2026 delivery, 581 for 2027 and 372 for 2028. That schedule is not a count of remaining units on Sept. 15.
Hutt’s later analysis points in the same direction, with estimated resale sales up 17% and preconstruction closings down 57%. He also reported a 464-day preconstruction median, up from 221 days.
“Recorded closings do not tell us everything about current reservations, signed contracts, construction progress, or future deliveries,” Hutt wrote.
Buyers comparing an existing condo with an off-plan contract are not comparing the same product. One is built; the other can remain years from physical delivery and legal closing.
PVDN’s reporting on real estate fraud cases and the full cost of a property purchase provides further due-diligence context.
The peso raised the August cost for dollar buyers
Banco de México’s monthly FIX series averaged 17.0664 pesos per U.S. dollar in August, compared with 17.4607 in July. The peso strengthened about 2.3% on that measure.
Using those averages, an unchanged 8 million-peso price cost about $458,200 in July and $468,800 in August. That is roughly $10,600 more for a dollar buyer without any change in the peso price.
The calculation applies to a peso-denominated price. Dollar-denominated listings and individual closing contracts can produce different results.
Federal data show continued state-level appreciation
The federal housing index published Aug. 10 found national home prices rose 7.3% in the second quarter from one year earlier. The first-half increase was 7.9%.
Jalisco recorded 11.2% first-half appreciation and Nayarit 10.6%, according to the federal agency. Nationwide, new homes rose 8.3% and used homes 7.5% during the half.
That index covers homes acquired with mortgage credit and does not isolate Puerto Vallarta. The settled-sales study reported roughly 91% cash purchases where financing was recorded, limiting the index’s local reach.
Its upward state trend and August’s lower portal asking prices measure different markets and time frames. Neither series disproves the other.
Limits of the available record
PVDN found no public, same-month dashboard that combines municipal deeds, cash sales, developer contracts, and every MLS closing. The available sources use private reporting systems.
Most MLS summaries also stretch beyond the municipality. They may include Bucerías, Nuevo Vallarta, La Cruz de Huanacaxtle, Sayulita and Punta de Mita in Nayarit.
Membership and coverage change over time. A 10-year MLS review said more developers and agencies from outlying areas began reporting after 2017. That affects long-term comparisons.
Preconstruction creates another timing issue. A reservation, signed purchase contract, physical delivery, and recorded deed can occur in different months.
Portal medians can also move when listings enter, leave, or are repriced. They do not function as a municipal deed register.
A market split by product and place
The available record supports a narrow August assessment. Portal asking prices eased, broad condo sales remained below last year, and resale demand held up better than preconstruction.
Long selling times and discounts gave buyers room to negotiate. Neighborhood price data showed no uniform decline.
Conditions varied from Olas Altas and the Malecón area to Paseo de la Marina, Versalles, Fluvial, and inland neighborhoods. The August evidence describes a more negotiable market divided by property type and location.
