The greater Bay of Banderas market offers buyers a plethora of options, from luxury, ocean-front homes with six+ bedrooms and baths; to cozy, artist studios – something for every person and price point. I wanted to provide a deep dive into two-bedroom, two-bath condos that represent the bulk of inventory in the area.
We analyzed the data and dissected it between built and pre-construction, as well as, Puerto Vallarta vs. Riviera Nayarit. (note: MLS Flex data period from January 1, 2025 through June 1, 2025)
These are some of the key findings:
Greater Bay of Banderas Market
All 2 bedroom/2 bath units:
- A total of 253 units sold with an average number of days on the market of 305 days.
- The average list price was $481,758 and the average sold price of $455,031 which represents the typical sale is 6% under ask.
Existing 2 bedroom/2 bath units:
- A total of 129 units sold with an average number of days on the market of 206 days.
- The average list price was $542,652 and the average sold price of $518,749 which represents the typical sale is 5% under ask.
Pre-construction 2 bedroom/2 bath units:
- A total of 124 units sold with an average number of days on the market of 408 days
- The average list price was $418,409 and the average sold price of $388,744 which represents the typical sale is 7% under ask.
We now want to dive deeper into the data to see how the markets look in both Puerto Vallarta vs Riviera Nayarit
Puerto Vallarta
All 2 bedroom/2 bath units:
- A total of 171 units sold with an average of 309 days on the market.
- The average list price was $497,604 and the average sold price of $472,416 which represents the typical sale is 5% under ask.
Existing 2 bedroom/2 bath units:
- A total of 96 units sold with an average of 198 days on the market.
- The average list price for all condos was $571,272 and the average sold price was $545,965 which represents the typical sale is 5% under ask.
Pre-construction 2 bedroom/2 bath units:
- A total of 75 condos sold with an average of 452 days on the market.
- The average list price for all condos was $403,308 and the average sold price was $378,274 which represents the typical sale is 6% under ask.
Riviera Nayarit
All 2 bedroom/2 bath units:
- A total of 82 units sold with an average number of 297 days on the market.
- The average list price for all condos was $448,714 and the average sold price was $418,714 which represents the typical sale is 7% under ask.
Existing 2 bedroom/2 bath units:
- A total of 33 units sold with an average of 229 days on the market.
- The average list price for all condos was $459,984 and the average sold price was $439,574 which represents the typical sale is 5% under ask.
Pre-construction 2 bedroom/2 bath units:
- A total of 49 condos sold with an average number of 342 days on the market.
- The average list price for all condos was $441,522 and the average sold price was $404,769 which represents the typical sale is 8% under ask.
THE TAKE AWAY
What does all this mean?
The numbers don’t lie – it continues to be a buyers-market throughout the Bay, so a good time to invest.
Puerto Vallarta continues to lead in the number of existing units sold by 2 to 1. This also means that prices in Vallarta for units, on average, are 33% more expensive than those of Riviera Nayarit.
In terms of pre-construction, Nuevo Nayarit had more sales and, on average, those were 7% more expensive than Puerto Vallarta, although the units tend to have a bit more square footage.