Costa Rica Real Estate Market Update – January 2025
The Costa Rica real estate market has entered 2025 with notable shifts in pricing, sales volume, and overall market activity. Whether you're a buyer, seller, or investor, understanding these trends can help you make informed decisions in the months ahead.
Key Market Trends in January 2025
1. Median Home Prices Drop Significantly
One of the most striking changes in the market is the 41.21% decrease in the median sold price of single-family homes. In January 2024, the median price was $907,769, but as of January 2025, it has dropped to $533,647. This significant price reduction indicates a potential market correction, shifting affordability in favor of buyers.
2. Sales Volume is on the Rise
Despite falling prices, the number of sold listings increased by 30.77%, showing that demand remains strong. More buyers are entering the market, likely drawn by lower prices and increased inventory.
3. Price Per Square Foot Declines
The average price per square foot has fallen by 40.54%, from $281.56 to $167.42. This decline reinforces the overall trend of decreasing home values, making Costa Rica a more accessible market for those looking to purchase.
4. Inventory is Expanding
With a 16.19% increase in inventory, there are now 1,371 active listings, up from 1,180 last year. This rise in available properties provides more options for buyers and could contribute to price stabilization in the coming months.
5. Properties are Selling Faster
The average days on the market has dropped by 42.33%, from 593 days in 2024 to just 342 days in 2025. This suggests that well-priced properties are moving quickly, indicating an active market with motivated buyers.
What Does This Mean for Buyers & Sellers?
- For Buyers: With lower prices, increased inventory, and quicker sales, now may be an excellent time to enter the market. Opportunities for good deals are increasing, particularly for those looking at single-family homes.
- For Sellers: While prices have decreased, homes are selling much faster than before. If you're looking to sell, competitive pricing and a strong marketing strategy will be key to attracting buyers in this shifting landscape.
- For Investors: The market dynamics suggest a buyers’ market, which could be a prime opportunity to invest in Costa Rica real estate before prices potentially rebound.
Looking Ahead
While it’s too early to predict how the market will evolve throughout 2025, the increase in sales activity and declining prices suggest a more accessible and dynamic real estate environment. External factors such as global economic trends, tourism growth, and foreign investment will likely play a role in shaping Costa Rica’s property market in the months ahead.
If you're considering buying, selling, or investing in Costa Rica real estate, staying informed about market trends is crucial. Click Here to request the full January 2025 Costa Rica Real Estate Market Report.
