Market Updates
San Miguel Real Estate Market Update – September 2026Residential real estate activity in San Miguel continues to show remarkable strength, positioning 2026 to become the second‑best year ever recorded. As of the e…
Philip Hardcastle3 min readSan Miguel Real Estate Market Update – August 2026Resale activity in San Miguel remains solid, though we are beginning to see early signs of the same market pressures affecting the U.S. housing sector. Through…Philip Hardcastle2 min readSan Miguel Real Estate Market Update – July 2026Resale activity in San Miguel continues to show strength, with all properties Under Contract outpacing last year’s performance. As of the end of July, 279 prope…Philip Hardcastle2 min readSan Miguel Real Estate Market Update – June 2026Mexico received an encouraging wave of positive global attention during the World Cup, with many games hosted throughout the country.Philip Hardcastle2 min readSan Miguel Real Estate Market Update – May 2026Year‑to‑date resale home sales remain strong, with 197 closings through May compared to 190 during the same period in 2025—a year that set an all‑time record.Philip Hardcastle2 min readSan Miguel Real Estate Market Update – April 2026Resale home sales in San Miguel de Allende remained strong through April, and year‑to‑date activity continues to outpace the same period in 2025—our strongest y…Philip Hardcastle1 min readSan Miguel Real Estate Market Update – March 2026Resale activity in San Miguel de Allende remained strong in March, though the data is beginning to show some conflicting signals.Philip Hardcastle2 min readSan Miguel Real Estate Market Update – February 2026February was another solid month for resale homes in San Miguel de Allende.Philip Hardcastle2 min readSan Miguel Real Estate Market Update – January 2026The number of resale home sales in San Miguel de Allende closed January 2026 up 8% compared to January 2025 while the dollar volume was up a little over 20%. Th…Philip Hardcastle1 min readSan Miguel Real Estate Market Update – December 2025Resale home sales in San Miguel de Allende closed 2025 with a remarkable 24.68% increase in the number of homes sold compared to 2024, along with a 9.03% increa…Philip Hardcastle2 min readSan Miguel Real Estate Market Update – November 2025We are happy to announce that in November we surpassed the total dollar volume of sales compared to all of 2024. We still have three more reporting weeks in Dec…Philip Hardcastle2 min readSan Miguel Real Estate Market Update – October 2025We are pleased to announce that by early October, we had already surpassed the total sales volume of 2024— and we still have two more months in 2025! Resale act…Philip Hardcastle2 min readSan Miguel Real Estate Market Update – September 2025We’re proud to share that San Miguel de Allende has once again been named the Best Small City in the World by the Condé Nast Traveler Readers’ Choice Awards.Philip Hardcastle1 min readSan Miguel Real Estate Market Update August 2025August saw a slight dip in home resales compared to July, the market remains active and healthy. With year-to-date performance still strong, 2025 is on track to…Philip Hardcastle1 min readSan Miguel Real Estate Market Update – July 2025Home resales in July saw a significant increase compared to previous months. However, it's important to note that July's reporting period covered five weeks, wh…Philip Hardcastle1 min readSan Miguel Real Estate Market Update – June 2025Home resales in June surpassed the numbers recorded in the same month last year, though they fell slightly below this year’s monthly average.Philip Hardcastle1 min readSan Miguel Real Estate Market Update for May 2025May was the slowest month this year, which is typical, the number of resale sales still exceeded the number of resale sales in May of 2024. Overall, we have see…Philip Hardcastle1 min readSan Miguel Real Estate Market Update April 2025Sales of resale homes in San Miguel de Allende continue to be strong. Compared to the end of April of 2024. We have seen 190 properties put under contract as of…Philip Hardcastle1 min readReal Estate Market Update for March 2025, San Miguel de AllendeSales of resale homes in San Miguel de Allende continue to be strong. Comparing the first quarter of 2025 to 2024 sales volume is up 54% and the total dollar am…Philip Hardcastle1 min readWelcome to Our Real Estate Market Update for February 2025.Sales of resale homes in San Miguel de Allende continue to be extraordinarily strong. Comparing year to date data at the end of February 2025 to the average sal…Philip Hardcastle1 min readJanuary 2025 San Miguel de Allende Real Estate Market UpdateResales of homes in San Miguel de Allende are off to a great start in 2025. Compared to the average sales in 2024 the volume of sales is up over 17% and the dol…Philip Hardcastle1 min readSan Miguel de Allende Real Estate Market Update January 2025Compared to the average sales in 2024 the volume of sales is up over 17% and the dollar volume is up by over 12%. Although this update doesn’t include them, the…2024 San Miguel de Allende Real Estate Market Update2024 was a great year for real estate sales in San Miguel de Allende considering that it was an election year both in Mexico and the USA where many people sit o…Philip Hardcastle1 min readMonthly Market Update April 2024Inflation will continue to push prices up. The costs of the materials and labor continue to increase the Replacement Costs calculations to value a property will…Philip Hardcastle2 min read1st Quarter 2024Many sellers will hold out for the higher sales price, but as I have learned in my almost twenty years in San Miguel real estate, there are always sellers who w…Philip Hardcastle3 min readSan Miguel de Allende´s Real Estate Market Continues StrongIt has not been uncommon for us to work with clients who visit every few months or years until they finally figure out what they want to do with the rest of the…Philip Hardcastle2 min readSan Miguel de Allende Becomes the Place to Escape (part 2)Waiting for property prices to fall in San Miguel before buying a home probably won't prove to be a good plan. Unless some drastic world event(s) happen, my bet…Philip Hardcastle4 min readWhy Real Estate in San Miguel de Allende Will Remain a Solid Long Term InvestmentAs a result, Mexico unseated China as the largest exporter to the US in 2023, and become one of the top 10 exporters globally. It is this economic strength that…Philip Hardcastle2 min readSan Miguel de Allende continues to escape the global real estate standstill.I think what we are actually seeing both in real estate and in consumer goods and services is the devaluation of our fiat currencies. Fortunately for now, the U…Philip Hardcastle4 min readSan Miguel de Allende Becomes the Place to EscapeWhen the stock markets were up because many buyers, even if planning to eventually live here full time, were cashing in investments to purchase a second home. B…Philip Hardcastle5 min readSan Miguel de Allende Market Overview April 2022The US Fed raising interest rates has put a huge damper on US home sales as buyers now need 50% more income to qualify for the same loan as just a few months ag…Philip Hardcastle2 min readSan Miguel de Allende Market Update February 2022We are starting to see prices slightly increase for homes that are well located and in better than average condition, the main indicators we see as sales activi…Philip Hardcastle3 min readSan Miguel de Allende Market Update January 2022At first glance, it appears that the inventory of homes is still fairly high in San Miguel de Allende and that we still have 19 months of inventory. However, an…Philip Hardcastle4 min readIs it Still A Good Time to Buy Real Estate in San Miguel de Allende?Este mercado se ha vuelto enorme y las casas terminadas pueden igualar el tamaño del mercado de reventa. Si incluyeras todas las unidades parcialmente construid…Philip Hardcastle6 min readIs Now the Time to Buy in San Miguel de Allende?The importance of the stock market in this context isn’t a prediction of whether it will go up or down but rather the broad impact it has on most things financi…Philip Hardcastle7 min readSan Miguel de Allende Real Estate Market Update February 2021I don't really see any data point which would cause prices to drop much further or cause prices to quickly appreciate. The sense that there is pent-up demand wi…Philip Hardcastle3 min readRealty San Miguel Market Update January 2021The price correction we have seen in the past few months is probably coming to an end as most of the fluff has been taken away. Most will not...Philip Hardcastle4 min readRealty San Miguel Market Update October 2020There were two positives in October. First, the median price of all properties declined by $38,000. Second, the percentage sold below the asking price increased…Philip Hardcastle5 min readReal estate buying strategies - Fall & Winter 2020/2021So what should your buying strategy be when you are looking to purchase a home in San Miguel de Allende this fall and winter season? The answer somewhat depends…Philip Hardcastle4 min readFour Plus Year of Inventory and GrowingIn early 2017, our inventory was as low as I had ever seen it and within the MLS there were only 175 properties listed for sale. Today, there are over 850 resal…Philip Hardcastle3 min read20 YEARS of Inventory In The Million Plus Market...being optimistic and hoping for two more before the end of the year, that would mean that only ten homes priced at or over a million dollars will sell this y…Philip Hardcastle1 min readMarket Update October 1, 2020Tracking 34 years of cycles in San Miguel, we should continue on a downward trend both in volume and prices. However, SMA is probably way more connected to the…Philip Hardcastle5 min readIs San Miguel de Allende Open to Visitors or Shut Down?Some clients, who had just arrived yesterday, described entering without problems and easily received their tourist visas.Philip Hardcastle1 min readBuyer Beware – Only 50% of All Homes For Sale Are Reasonable Priced!We found that slightly over 40% of the homes currently for sale were still priced at or above the peak prices of mid-2018. The percent of “overpriced” homes wen…Philip Hardcastle4 min readWhat Will Help My House Sell?The ones that are newer or have been remodeled sell better than a home that is feeling dated - even if it is in tip-top condition. In boom times buyers will oft…Philip Hardcastle7 min readUS & San Miguel Market Disconnect – Hopefully Closing SoonThere are always sellers here who are under outside or self-imposed pressure to sell. Since almost all homes here are purchased with cash versus a mortgage, sel…Philip Hardcastle2 min readMexico's Economy... news from Mexico these days is mostly good ... the second largest economy in Latin America, has remained resilient to the U.S. slowdown and the financial tu…Philip Hardcastle1 min readBouncing off the Bottom… given that Centro is the hottest real estate market in San Miguel de Allende. It was the last to see the decline in prices after the crisis began and will be…Philip Hardcastle2 min read
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