Short answer: through October 2026, San Miguel de Allende shows an active but more selective market. The median home sold in dollars closed at US$562,500, about six months after listing and at 96% of its last asking price. This is a preliminary report: the year has not closed, and we will update it when full-year data is available.
What this report covers
We combine two sources. The first is RESMA's database of closed sales in San Miguel de Allende, January to October 2026 (372 closings, of which 310 were homes). The second is a snapshot of the 449 properties for sale in RESMA's own inventory on 11 November 2026. Closed prices describe what buyers paid; asking prices describe what owners hope for. We keep them separate throughout.
Closed sales, January–October 2026
| Indicator (homes) | 2024 | 2025 | 2026 (Jan–Oct) |
|---|---|---|---|
| Median price, sales agreed in US$ | US$580,000 | US$525,000 | US$562,500 |
| Median days from listing to closing | 132 | 204 | 188 |
| Median closing price vs. last asking price | 96% | 96% | 96% |
- Currency: 69% of the homes sold were agreed in US dollars. Lots behave differently: 80% were sold in pesos.
- Price per square meter: the median was US$2,375 per m² of construction, 2% above 2025 and 6% above 2024.
- Price ranges: of the homes sold in dollars, 44% closed between US$300,000 and US$600,000, 24% between US$600,000 and US$1 million, and 20% above US$1 million.
- Price reductions: 37% of the homes sold had at least one reduction before selling.
- Buyers: among closings with a recorded nationality, 69% of buyers were American; Mexican buyers rose from 22% in 2025 to 27% in 2026.
Source: RESMA closed-sales database; methodology in our article San Miguel de Allende doesn't have just one price. Medians, not averages. The database does not include every private sale in the municipality.
What is for sale now (RESMA inventory, 11 Nov 2026)
Our published inventory had 449 properties: 363 homes, 73 lots and 13 other properties. Of the homes, 162 were listed in dollars (median asking price US$730,000) and 201 in pesos (median MX$6.8 million). Asking prices sit above the closed median, which is normal: listings include the high end and properties that have not yet met their market.
| Homes listed in US$ by asking price | Listings |
|---|---|
| Under US$300,000 | 23 |
| US$300,000 – 600,000 | 40 |
| US$600,000 – 1 million | 41 |
| US$1 – 2 million | 32 |
| US$2 million and above | 26 |
What the numbers say
- Prices held, they did not jump. The dollar median is within the range of the last three years. Value per m² rose moderately.
- Selling takes time. About six months is the norm, and homes that started too high took longer and closed further below their original price.
- Two markets in one city. Dollar-priced homes aimed at international buyers and peso-priced homes for Mexican buyers move differently. Mexican demand is growing.
- Context: Mexico's mortgage-backed home price index (SHF) rose 7.3% year over year in the second quarter of 2026. It measures mortgage-financed homes nationally, so it is a reference, not a San Miguel price.
The outlook for 2027: scenarios, not predictions
No one can promise where prices will go. These are the conditions we will watch, and what each would likely mean:
- If international demand stays steady and pricing discipline holds, expect stable medians and similar selling times, with the best-located, well-documented homes selling first.
- If more inventory reaches the market than buyers absorb, expect longer selling times and more negotiation, especially for homes priced above their comparables.
- If Mexican demand keeps growing, peso-priced homes in well-served neighborhoods could gain share of sales.
We will publish the full-year 2026 figures in January 2027 and update this page with them.
Frequently asked questions
Are prices falling in San Miguel de Allende?
Not according to our 2026 closed sales through October: the dollar median was US$562,500, between the 2024 and 2025 figures, and value per m² rose about 2%. What changed is how long sales take and how much overpricing costs.
Is this the full-year 2026 report?
No. It covers January to October 2026. We will update it with full-year data in January 2027.
Why are asking prices higher than closed prices?
Listings include the high end and properties that have not sold yet. Closed prices show what buyers actually paid; the median closing price was 96% of the last asking price.
Talk to someone who knows San Miguel
Tell us what you are looking for and we will share options from our listings and the AMPI MLS, and help you plan your next steps.
Explore available propertiesSpeak with the RESMA teamSearch the AMPI MLSRelated reading
- Is San Miguel de Allende Real Estate Overpriced? What the Data Can—and Cannot—Tell Us
- What Can $500,000 USD Buy in San Miguel de Allende?
- San Miguel de Allende doesn't have just one price
- How long does it take to sell a home?
- Browse homes for sale
Sources
- RESMA Real Estate, database of closed sales in San Miguel de Allende, Jan 2024–Oct 2026, as published in “San Miguel de Allende doesn't have just one price”
- RESMA Real Estate, “How long does it take to sell a home in San Miguel de Allende?” (closed sales Jan–Oct 2026)
- RESMA Real Estate, active listings published on 11 Nov 2026 (449 properties, own inventory)
- Sociedad Hipotecaria Federal, Índice SHF de Precios de la Vivienda, 2nd quarter 2026
Sources and data consulted on 11 Nov 2026.