What Nobody Publishes About the San Miguel Market

0

Public registries publishing SMA sale prices

The Guanajuato Registro Público de la Propiedad publishes no compraventa statistics. Checked 23 July 2026.

1

MLS behind every closed-sale figure

The AMPI San Miguel de Allende MLS, which publishes nothing itself. Four brokerages report from it; the two that publish monthly count the first half of 2026 differently, at 186 and 181.

156

Data gaps we documented

Recorded while researching the rest of this site. The significant ones are listed below.

0

Published appreciation indices for any colonia

No repeat-sales index, no hedonic index, no MLS time series. Neighbourhood appreciation figures are estimates.

Most pages on this site publish numbers. This one publishes the absence of them.

While researching the rest of this site we kept a record of every figure a serious analysis would want and could not obtain. That record ran to 156 entries. What follows is the significant part of it, grouped by what it prevents you from knowing.

This is not a disclaimer. It is the most useful page here, because almost every figure quoted at a buyer in this market rests on one of these gaps, and none of the sources quoting them will tell you that.

Is there a public record of San Miguel de Allende sale prices?

Everything downstream follows from that table. When six different websites quote you the same average sale price, they are not corroborating each other. They are all quoting the same brokerage.

That data is the best available and we use it throughout this site. But it is unaudited, and its coverage is partial by its publishers’ own account: Realty San Miguel’s updates reference an AMPI MLS transition and note that not all agencies participate in the same system, and the MLS may not capture all private sales. It is published by firms that earn a commission when you buy.

What cannot be measured

Appreciation

There is no measured appreciation series for San Miguel de Allende at any level of geography. No repeat-sales index. No hedonic index. No MLS price series that can stand in for one: the citywide monthly medians published since August 2026 moved by some $300,000 between April and June on 25 to 38 sales a month, and nothing is published by colonia.

This matters more than any other gap on this page, because appreciation is the single number most often used to justify a price. When you are told that a neighbourhood appreciates at 13 to 15 percent annually, no index produced that figure. It is an estimate built from listing data, and the method behind it is not published by anyone.

Days on market

A citywide figure now exists. Since August 2026 a brokerage agent has published the median time from listing to closing in the AMPI MLS: 178 days for homes sold in the first half of 2026, 184 for August and 195 for September. It comes from a commissioned source, and it counts only the homes that sold. We have found no days-on-market figure by price band, and none exists at neighbourhood level.

Corrected 24 September 2026: earlier versions of this page said no days-on-market figure derived from MLS or closed-sale records existed at any price point. Since 1 August 2026 a citywide one is published, by a brokerage agent reading the AMPI San Miguel de Allende MLS.

The roughly 150-day citywide average in wide circulation is a different number, and still worth following to its source. One version cites a brokerage market update that contains no days-on-market data at all. Another cites the 2020 INEGI census, which cannot produce such a figure. The number is real in the sense that many people repeat it. It is not real in the sense of having been measured.

Price per square metre

Every published price-per-square-metre figure for San Miguel is an asking price or crowdsourced, never a closed sale. They disagree with each other by roughly a factor of two.

For scale on how thin the crowdsourced end is: Numbeo’s San Miguel property figures rest, by its own disclosure, on 50 entries from 9 contributors over 18 months. Its city-centre figure sits 74 percent above the citywide asking median another publisher released three days earlier.

The median

A citywide median from closed sales has been public since 14 April 2026, when Rafael Mora Real Estate put the first-quarter figure at $480K on the public page of a gated report. Since 1 August 2026 a brokerage agent reading the AMPI MLS has published medians every month, starting with $480K across 181 homes in the first half of 2026. It is the most useful single statistic this market has had, because the average for the same homes, $627K, is pulled up by a handful of large sales, and in a market where roughly a dozen transactions above two million dollars a year can swing the mean by tens of thousands of dollars, the average is the least informative statistic available.

What still does not exist is a public median by neighbourhood, a median from anyone without a commission, or one that can be checked against a registry. The market tracker sets the published figures side by side each month.

Corrected 8 October 2026: earlier versions of this page named three brokerages that publish readings of the AMPI MLS. Live In San Miguel is a fourth; its report for 7 January to 30 September 2026, read on 8 October 2026, gives a $385K median of all closings with a recorded price. The page also stopped at August: September’s median was $372,500 on 38 sales and its median time to sell 195 days (Mike Fanelli, read 5 October 2026), and Realty San Miguel’s year-to-date count has two later readings, 226 against 258 through July and 253 against 289 through August (updates of 18 August and 9 September 2026).

Corrected 24 September 2026: earlier versions of this page said no median sale price from closed transactions was published for any year. One has been public since 14 April 2026 (Rafael Mora Real Estate, Q1 2026: $480K), and a brokerage agent has published monthly medians and days to sell from the AMPI MLS since 1 August 2026.

What cannot be verified

What this changes about how you should read anything

Three practical rules follow.

Ask what produced the number. Not who published it, what produced it. An appreciation rate should come from an index. A days-on-market average should come from transaction records. If the answer is that a brokerage estimated it, the figure is an opinion with a decimal point attached.

Treat agreement between sources as weak evidence. In this market, six sources quoting the same figure usually means six sources quoting one source. Corroboration requires independent measurement, and independent measurement mostly does not exist here.

Distinguish load-bearing figures from decorative ones. The fideicomiso question has a definitive legal answer and you can act on it. The neighbourhood appreciation rate does not, and building a purchase decision on a specific one is building on an estimate whose method nobody has published.

What we do about it

We publish the gap rather than filling it. Where this site states a figure, it carries its source and the date it was current. Where a figure would improve a page and cannot be sourced, the page says so instead of estimating, which is why several pages here contain sentences admitting that the most interesting number in the section does not exist.

That is a worse reading experience than the confident alternative. It is a considerably better basis for a decision involving several hundred thousand dollars in a foreign country.

Sources do close these gaps: since April 2026 brokerages’ reports have closed two in part, the citywide median and, from August, the citywide time to sell, and this page did not say so until September. If you find a source that closes another, we would genuinely like to know. Send corrections and sources through the contact form.