Locked Out

The real estate scene in San Miguel de Allende (SMA) is currently defined by a high-demand, low-inventory environment that favors sellers, particularly in the historic core. As of early 2026, the market remains a premier destination for North American retirees, but it has seen a notable influx of younger, affluent remote workers and "digital nomads" who are driving up prices for modern, move-in-ready homes.Here is a breakdown of the current landscape:1. Market Trends & Pricing (2026)The market has shown remarkable resilience and growth. In 2025, sales volumes spiked by over 50% compared to previous years, and that momentum has carried into 2026.Average Home Price: Now hovers around $540,000 to $600,000 USD.Appreciation: Properties are seeing a steady annual appreciation of 3% to 7%, significantly outpacing national averages in Mexico.Inventory: The city currently has about an 11-month supply of housing. While this sounds like a lot, it is a significant tightening from the 19-month supply seen post-pandemic, indicating a "balanced" market that leans toward a seller’s market in prime areas.2. Neighborhood BreakdownWhere you buy in San Miguel dictates not just your price, but your lifestyle.NeighborhoodVibePrice Range (USD)Centro HistóricoIconic, walkable, noisy, historic.$750k – $5M+Colonia Guadiana"Beverly Hills" feel; flat walk to Centro, upscale.$500k – $2MColonia GuadalupeArtistic, murals, bohemian, becoming gentrified.$350k – $800kSan AntonioMix of local and expat; vibrant, more affordable.$250k – $700kAtascaderoHillside, panoramic views, larger lots, tranquil.$400k – $2.5MZirándaro/GatedModern construction, golf, suburban feel.$150k – $450k