Market Intelligence 11 briefings
San Miguel de Allende Market Intelligence
Every figure we publish is sourced and dated. Where we cannot source something, we say so rather than estimate it.
Every other source of San Miguel de Allende market data earns a commission when you buy. That is not an accusation, it is a structural fact, and it shapes which numbers get published and which quietly do not. Overpriced inventory sitting past 300 days is a real feature of this market. You will not find it in a listing brochure.
This section is the counterweight. It carries the transaction data, the appreciation figures by neighbourhood, the honest rental yield distribution rather than the best case, and the comparisons against the other markets you are probably weighing. Each page states its sources and the date they were current.
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01 Market Intelligence
Prices and Appreciation in San Miguel de Allende
What San Miguel de Allende property costs and what it has done: the 2025 average sale price, why no median exists, and the 2026 inventory build.
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02 Market Intelligence
Short-Term Rental Yields and Regulation in San Miguel de Allende
The median San Miguel de Allende short-term rental grosses $1,096 a month before costs. The revenue distribution, the occupancy conflict, the tax stack.
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03 Market Intelligence
San Miguel de Allende's Luxury Segment: Above $2 Million
Twelve homes sold above $2 million in San Miguel de Allende in 2025, down from 19. What that contraction explains about the market, and what it does not.
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04 Market Intelligence
San Miguel de Allende Against Five Other Mexican Markets
San Miguel de Allende compared with Merida, Oaxaca City, Puerto Vallarta, Ajijic and Tulum on price, appreciation, rental performance, advisory level and title.
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05 Market Intelligence
What Nobody Publishes About the San Miguel Market
There is no public registry of San Miguel de Allende property sales. The full list of what cannot be sourced, and what to do when a figure is quoted.
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06 Market Intelligence
Real Estate Agent Commissions in San Miguel de Allende
What agency commission costs in San Miguel de Allende: the 6 per cent plus IVA figure, who pays it, whether it is negotiable, and what it does to advice.
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07 Market Intelligence
The Downside Case for San Miguel de Allende Real Estate
The honest bear case for San Miguel de Allende property: the 2026 inventory build, round-trip costs, currency, liquidity, regulation and security risk.
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08 Market Intelligence
Housing Inventory and Months of Supply in San Miguel de Allende
One publisher says inventory normalised to about 11 months. The monthly data shows 29.6 months for January to May 2026 against 17.6 a year earlier.
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09 Market Intelligence
How Long It Takes to Sell Property in San Miguel de Allende
No days-on-market figure from closed sales exists for San Miguel de Allende. What can be measured about exit time, and what the round trip costs.
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10 Market Intelligence
Currency Risk for Foreign Buyers in San Miguel de Allende
How the peso rate changes what a San Miguel de Allende property costs and returns: spot versus annual averages, and which costs are peso-denominated.
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11 Market Intelligence
Water Risk and the San Miguel de Allende Aquifer
CONAGUA records a 61.98 million cubic metre annual deficit in the aquifer under San Miguel de Allende, and zero volume available for new concessions.
Common Questions
Where does San Miguel de Allende transaction data actually come from?
There is no public registry of closed sales for San Miguel de Allende. The Guanajuato property registry publishes no compraventa statistics and the local AMPI chapter publishes none, so effectively every price and volume figure in circulation for this market traces to a single brokerage reporting counts from its own MLS view. That includes ours. Any figure quoted for this market should carry that limitation.
How many properties sold in San Miguel de Allende in 2025?
Nobody has published a count. The widely repeated figure of 504 resale closings in 2025 was never reported by any source: the underlying publisher reported 404 closings for 2024 alongside a 24.68 per cent increase for 2025, and 504 is the product of those two numbers. We describe it as implied, never as reported.
Is the San Miguel de Allende market rising or cooling?
Inventory rose materially through the first half of 2026. Months of inventory averaged 29.6 for January to May 2026 against 17.6 a year earlier, and active listings peaked at 860 in May 2026, roughly 45 per cent up year on year. One publisher separately described inventory as normalising to about 11 months; both figures rank on page one and they do not agree.
What is the average property price in San Miguel de Allende?
One brokerage citywide annual average, drawn from its own MLS view, was US$568,829 for 2025 against US$650,462 for 2024. That is closed-sale derived, which almost nothing else published for this market is. There is no closed-sale median for any year, no closed-sale figure at neighbourhood level, and no price per square metre from a closed sale.
San Miguel de Allende · Heritage Equity
The report no agent will send you.
The SMA Wealth Intelligence Report. Transaction data, neighbourhood appreciation, and the full short-term rental yield distribution. No commission agenda, because we do not earn one.