Palmilla Real Estate
The largest and most expensive residential market in Los Cabos: 141 recorded sales worth $620 million in three years. It is also two markets in one — the ocean side trades at five times the inland median. Here is what all of it actually sells for.
One name, two completely different markets
The Los Cabos MLS does not file Palmilla as a single community. It files it as two — Palmilla-Ocean Side and Palmilla-Inland — and the gap between them is the most important thing a buyer here needs to understand.
On the ocean side, 79 properties have sold in three years at a median of $5,600,000, and 32 are listed asking $268,390,000 between them. Inland, 62 properties sold at a median of $1,100,000, with 22 listed asking $76,600,999. The ocean-side median is more than five times the inland one, inside a community that markets itself under one name.
Neither half is the "real" Palmilla. Villas de Oro, inland, has recorded eight sales below $1,000,000 — genuine entry points to a prestigious address. Villas del Mar, on the ocean, has traded $320,200,000 on its own. Both are Palmilla. Knowing which one you are shopping in is the first decision.
Houses, Condominiums, Homesites
Palmilla trades all three in volume, which is unusual. The house market alone is larger than the entire recorded market of any other community on the corridor.
Houses
72 sales, median $5,525,000, range $850,000 to $25,900,000. Median close 96.6% of asking, with six sales above list. Villas del Mar and Espiritu del Mar account for 50 of the 72. 25 listed now, $1,450,000 to $24,950,000.
Condominiums
28 sales, median $1,285,000, range $675,000 to $6,600,000. The firmest segment at 96.8% of asking, and the only route into Palmilla under $1 million. 11 listed now, $965,000 to $2,325,000.
Homesites
41 sales, median $1,100,000, range $540,000 to $7,200,000. The softest segment at 93.6% of asking. Oasis Palmilla alone accounts for 21 of them. 18 listed now, $700,000 to $24,500,000.
The Eleven Neighborhoods That Trade
Every one of these has recorded MLS activity. Prices below are closed sales and current asking prices — nothing here is an estimate.
Ocean Side
Villas del Mar
Forty sales worth $320,200,000 — 52% of everything Palmilla has traded. Thirty-five house sales make this the one address with a readable price ladder by bedroom count.
Explore Villas del Mar
La Caleta
$69,765,000 of listed inventory against exactly one recorded sale. A fifth of Palmilla’s asking inventory, and 0.7% of its transactions.
Explore La Caleta
Espiritu del Mar
Four of fifteen house sales beat their asking price, one by $1,777,119. The strongest seller record in Palmilla, at a median of 98.4% of list.
Explore Espiritu del Mar
Palmilla Cove
Five sales, five discounts. A median of 89.4% of asking and $5,175,000 taken off $42,100,000 of listings — the softest record on the ocean side.
Explore Palmilla Cove
Caleta Loma
Three homesites and one 2024-built house. The single recorded lot sale closed at 81.4% of asking — the most recent land evidence here.
Explore Caleta Loma
Oceano Alta & Baja
The cheapest houses on Palmilla’s ocean side, every sale under $3,500,000 — and the softest negotiating record in the community at 85.7% of asking.
Explore Oceano
Villas de Montana
Three recorded sales. Both current listings are two-bedrooms asking above the best two-bedroom result the address has produced.
Explore Villas de MontanaInland
Oasis Palmilla
Twenty-one homesite sales, half of Palmilla’s land market — and not one lot left on the market. Buyers took a median twelve per cent off asking.
Explore Oasis Palmilla
Palmilla Estates
Seven of eleven sales closed at exactly the asking price. Lot values rose 40% between 2024 and 2026 — and the current asks go 30% further.
Explore Palmilla Estates
Palmilla Dunes
Nine sales, four at exactly asking. The one address where the current listings sit at or below what the record supports. Filed under two MLS spellings.
Explore Palmilla Dunes
Villas de Oro
The only address in Palmilla with sales under $1,000,000 — eight of twelve. Median close $900,000, cheapest $675,000.
Explore Villas de OroSix smaller pockets
These have recorded MLS activity but too few transactions for a page of their own. They are here so the picture is complete rather than tidy.
| Sales (3 yr) | Recorded prices | Listed now | |
|---|---|---|---|
| Palmilla Norte | 2 houses, 1 lot | $9,250,000 and $4,700,000; lot $1,000,000 | 1 lot at $2,850,000 |
| Palmilla (unassigned) | 4 lots | $1,600,000, and three at $795,000 | None |
| Palmilla Canyon | 1 lot | $1,060,000 | 1 lot at $1,250,000 |
| Palmilla Fairway | 1 house | $1,925,000 | None |
| Punta Bella | None | — | 1 lot at $2,300,000 |
| Palmilla Inland — general | None | — | 1 lot at $24,500,000 |
The last row is the largest single listing in Palmilla and carries no subdivision name in the MLS at all. At $24,500,000 it asks more than three times the highest recorded Palmilla lot sale of $7,200,000. Nothing in the MLS record explains it, so nothing here treats it as a comparable — ask before you draw conclusions.
What Palmilla Actually Sells For
Closed sales from the Los Cabos MLS, trailing three years. Recorded transactions, not asking prices. Where a neighborhood mixes houses, condominiums and land, the median reflects that mix — the neighborhood pages break them apart.
| Neighborhood | Type | Sales | Median Close | Range | % of Ask |
|---|---|---|---|---|---|
| Villas del Mar | Houses, condos & land | 40 | $6,075,000 | $1.75M – $25.90M | 95.4% |
| Oasis Palmilla | Land & houses | 23 | $1,200,000 | $900K – $4.00M | 89.6% |
| Espiritu del Mar | Houses, condo & land | 18 | $6,275,000 | $3.00M – $16.25M | 97.5% |
| Villas de Oro | Condos & house | 13 | $900,000 | $675K – $1.32M | 95.0% |
| Palmilla Estates | Houses & land | 11 | $715,500 | $540K – $3.40M | 100.0% |
| Palmilla Dunes | Condominiums | 9 | $1,350,000 | $870K – $1.90M | 98.2% |
| Oceano Alta & Baja | Houses & land | 7 | $2,200,000 | $620K – $3.50M | 96.7% |
| Palmilla Cove | Houses | 5 | $6,475,000 | $4.00M – $13.50M | 89.4% |
| Villas de Montana | Condominiums | 3 | $1,500,000 | $1.38M – $2.25M | 93.8% |
| Caleta Loma | House & land | 2 | $3,025,000 | $1.75M – $4.30M | 81.4% |
| La Caleta | House | 1 | $13,600,000 | — | 97.1% |
| Smaller pockets | Houses & land | 9 | $1,060,000 | $795K – $9.25M | 86.2% |
Source: Los Cabos MLS (FlexMLS), closed sales, three years to 24 August 2026. Community-wide: 141 sales, $620,144,612 volume, median close $3,075,000, median sale price 96.5% of asking. Nine sales closed above asking and thirty at exactly the asking price. The Palmilla Dunes figures combine two MLS subdivision spellings for the same building, and Oceano combines the Oceano Alta and Oceano Baja subdivisions. Data is deemed reliable but not guaranteed and is refreshed quarterly.
Ocean side against inland
| Ocean Side | Inland | |
|---|---|---|
| Sales, 3 years | 79 | 62 |
| Recorded volume | $539,822,062 | $80,322,550 |
| Median close | $5,600,000 | $1,100,000 |
| Listed now | 32 | 22 |
| Total asking | $268,390,000 | $76,600,999 |
The split follows the MLS’s own two community values, Palmilla-Ocean Side and Palmilla-Inland. Transaction counts are close — 79 against 62 — but the ocean side carries 87% of the money.
Sales by year — a market that is growing
| Year | Sales | Volume |
|---|---|---|
| 2023 (from 24 Aug) | 17 | $36,460,022 |
| 2024 | 37 | $144,532,000 |
| 2025 | 54 | $260,365,090 |
| 2026 (to 24 Aug) | 33 | $178,787,500 |
2023 and 2026 are partial years, so neither is an annual total. But the first eight months of 2026 have already recorded more money than the whole of 2024 — $178,787,500 against $144,532,000. Volume rose in every complete year in the set. This is the opposite of the pattern on the Pacific side, and a buyer should not assume time is on their side here.
The Palmilla Buyer’s Guide
A PDF covering what the listing portals will not tell you — all eleven neighborhoods with every recorded sale, where the ocean-side premium actually sits, which addresses hold their price and which discount, the fideicomiso process, honest closing costs, and the questions to ask before you make an offer.
- Eleven neighborhoods, with every recorded sale price
- Ocean side and inland analysed separately
- Where asking price is the price, and where it is not
- Fideicomiso bank trust explained step by step
- A realistic closing-cost worksheet at real Palmilla prices
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Yes, you can own here — and it is simpler than you think
Palmilla falls inside Mexico’s restricted zone, the strip within 50 km of the coast where foreigners cannot hold direct title. That sounds alarming and is not. Foreign buyers take ownership through a fideicomiso — a renewable bank trust in which a Mexican bank holds title as trustee while you hold every right of ownership: to occupy, renovate, rent, sell, or leave it to your heirs.
The trust runs 50 years and is renewable indefinitely. Setup typically runs a few thousand dollars with an annual maintenance fee. Alternatively, buyers purchasing for rental income sometimes hold through a Mexican corporation instead — which one is right depends on how you intend to use the property, and it is worth deciding before you make an offer rather than after.
Budget roughly 5–8% of the purchase price in closing costs as a buyer: acquisition tax, notary fees, trust setup, and registry. On the Palmilla median sale of $3,075,000 that is roughly $153,750 to $246,000. On the median ocean-side sale of $5,600,000 it is $280,000 to $448,000. Sellers carry the brokerage commission.
James Laker
I live and work in Los Cabos and I track the Palmilla market transaction by transaction. This is the deepest market on the corridor — 141 recorded sales in three years — which means almost every question here has a real answer rather than an opinion. Whether the gap between a Villas de Oro condominium and a Villas del Mar house is worth it to you is a personal decision; what each one actually trades for is not. Message me directly. No call centre, no lead routing — it comes to my phone.
Palmilla, Answered
Can a foreigner buy real estate in Palmilla?
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What is the cheapest way to buy into Palmilla?
What is the difference between Palmilla ocean side and inland?
Do properties in Palmilla sell for their asking price?
Is the Palmilla market rising or falling?
Are there lots for sale in Palmilla?
See What Is Available Right Now
Fifty-four properties are currently active inside Palmilla — 25 houses, 18 homesites and 11 condominiums, from $700,000 to $24.95 million.