Why Patience and Strategy Matter in Puerto Rico’s Real Estate Market

By Eli Torres, Real Estate Broker & REALTOR in Puerto Rico

In 2024, Puerto Rico's real estate market faced notable challenges, including high-interest rates, the impacts of an election year, and the traditional holiday season slowdown. These factors contributed to properties remaining on the market longer than anticipated.

Understanding Market Cycles

Puerto Rico's real estate market exhibits distinct cycles. Historically, the months leading up to an election see a decline in buyer activity as people adopt a "wait and see" approach. Additionally, December often brings a holiday pause, with fewer buyers actively searching for homes. These patterns, coupled with interest rates at 7.2%, made late 2024 especially slow.

When properties were listed in the fall, we discussed these market realities with our sellers. Our advice then—and now—was to remain patient and strategically position your property for success in the new year. January through May is Puerto Rico's selling season, and we are already seeing renewed activity in the market.

Why Now Is the Time to Stay the Course

As we move into the new year, here's why it's crucial to remain calm and focused:

• Increased Buyer Activity: The new year brings motivated buyers who are ready to make decisions.
• Election-Year Resolutions: Post-election clarity often spurs market confidence and movement.
• Interest Rate Stability: While still elevated, rates have begun stabilizing, allowing buyers to make informed decisions.

What You Can Do

If your property has been on the market for several months, consider the following strategies:

• Reassess the Price: In some cases, a slight adjustment can attract the right buyers.
• Enhance Presentation: Small updates, professional photos, or staging can make a significant difference.
• Trust the Process: Our team is here to guide you, with your best interests always at the forefront.

A Commitment to Collaboration

At eXp Puerto Rico, our priority is to work collaboratively with our clients. Selling a property is a partnership, and we honor the trust you place in us when you sign a listing agreement. The current market challenges are not permanent, and together, we can position your property for a successful sale in the months ahead.

We are here to listen, strategize, and achieve your goals. Thank you for your patience and trust as we navigate this ever-changing market.

Let's make 2025 a year of opportunities and success—starting now.

Eli Torres, Director at eXp Puerto Rico, Realtor with 11 Years of Experience