INDEPENDENT RESEARCH · NO LISTINGS · NO COMMISSION

San Miguel de Allende real estate, without the sales pitch

We are a publisher, not an agency. We list nothing, represent no one and take no commission, so we can print what the market would rather not. Written for buyers from the US, Canada, Europe and Mexico weighing a home here.

Q2 2026 edition · 63 pages · Free, and no one will call you

THE MARKET · Q2 2026

What the numbers say now, and what they cannot tell you

$480K
Median closed sale price, H1 2026

181 AMPI MLS closings, per one brokerage agent's report. August alone: $595K on 27 sales.

29.6 months
Average inventory, Jan-May 2026

Against 17.6 months in the same period of 2025. The same source calls 15 to 18 months normal here.

$568,829
Average resale sale price, 2025

Down from $650,462 in 2024. An average, not a median, and reported by a single brokerage.

Every figure is sourced and dated; the briefing was last updated 24 September 2026. There is no public registry of San Miguel sale prices: every closed-sale figure comes from a brokerage reading the local MLS, and we say whose, beside the number. See every published figure in the monthly market tracker, or get the full Q2 reading in the report.

WHY WE EXIST

San Miguel has always had agents. It has never had a source with nothing to sell.

Every other player in this market earns a commission when you buy. That is not a criticism. It is a structural fact that shapes every piece of advice, every data point shared, and every property shown to you. Invest In San Miguel was built because that structure leaves serious buyers without the one thing they actually need before making a half-million dollar decision in a foreign country: information that has no financial stake in the outcome.

An open doorway onto a planted courtyard, carrying the Invest In San Miguel Heritage Equity mark

We read every figure published about this market, trace it to its source, date it, and say plainly when there is no source at all. Every neighbourhood, every legal development, every change to the short-term rental rules. We publish it in plain language, with primary sources cited, and we make it available to anyone who is serious about understanding this market before they enter it. We do not list properties. We do not represent buyers or sellers. We earn nothing when you sign. What we earn is your trust, and we treat that as the only asset worth building.

START HERE

Seven buyers. Find the one that describes you.

Each guide opens with the three questions that buyer arrives with, and answers them with the same sourced figures used across the site.

What Buyers Say

"I had been told by three different agents that the fideicomiso was standard everywhere in Mexico. The ISM report was the first time anyone explained, with actual legal citations, that San Miguel is inland and we own outright. That one fact saved us months of anxiety."

American buyer, Austin TX

Purchased in Centro Historico, Q4 2025

Slide 1 of 3

"I had been told by three different agents that the fideicomiso was standard everywhere in Mexico. The ISM report was the first time anyone explained, with actual legal citations, that San Miguel is inland and we own outright. That one fact saved us months of anxiety."

American buyer, Austin TX

Purchased in Centro Historico, Q4 2025

"We had narrowed it down to SMA and Merida. Every comparison article we found was lifestyle content. ISM gave us an actual side-by-side: appreciation rates, safety ratings, STR yields, average price. We made our decision in a week after fourteen months of going in circles."

Canadian buyer, Vancouver BC

Purchased in Guadalupe, Q1 2026

"I work remotely and was paying $4,200 a month in rent in Denver. The ISM rent-versus-own analysis was the first thing that showed me, in real numbers, that buying in San Miguel was not just lifestyle aspiration. It was the mathematically correct decision."

Remote professional, Denver CO

Purchased in San Antonio, Q4 2025

The people behind the research

About Us

Managing Director

Diego Lujan

Client Relations & Partnerships

Yenisei Wayne

Market Data Analyst

Noah West

Broker Relations Manager

Ethan Rhodes

THE QUARTERLY REPORT · Q2 2026 EDITION · 63 PAGES · FREE

The market has cooled. Here is the evidence.

Supply at roughly twice what this market calls normal, what homes actually sold for, six neighbourhoods, the full cost of buying, holding and selling, the law, and a briefing for your situation. It opens with a digest you can read in ten minutes.

Free. The download starts on the next screen. We then send five short emails on the questions buyers ask most, and after that about one a month when the numbers change. No one will call you, we never share your address, and every email has a one-click unsubscribe. Privacy notice.

Or read what is inside first