2024 San Miguel de Allende Real Estate Market Update

Welcome to Our Real Estate Market Update.

2024 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 on the fence until the outcomes become clear. San Miguel saw 404 total resale properties close in 2024 compared to 425 in 2023, and 521 during the last peak market of 2022 post covid.

Where's the market going?

We don't anticipate major changes in the San Miguel real estate market for the next couple of months. As I explained in previously, Mexicans tend to hold off on any major purchases during the first six months of a new president (sworn in on October 1st) and until it becomes clear how new policies will change the outlook. Then with Donald Trump’s win in the US and the potential changes in policies towards Mexico it seems that everyone on both sides of the border is waiting to see what actually happens and how Mexico responds.