What Did the August 2026 San Miguel de Allende Market Actually Do?

27 homes & condos closed in San Miguel de Allende during August 2026 at a $595,000 median, $16.6 million in total volume, & a median 184 days from listing to closing. Only 15% sold in under 90 days & 19% had been listed over a year. 44% of priced sales closed under $500,000, & nothing closed above $2 million. The full figures, charts & methodology live in the August 2026 market report.

This is the readable version of that report, written for the question I actually get asked on the phone: what do last month’s closings mean for me, right now, this fall.

What did August look like in one paragraph?

27 homes & condominiums closed for $16.6 million at a $595,000 median, with 3 land parcels counted separately. Half of those sales took longer than 184 days to reach closing. The busiest stretch was August 10 through 16, which carried 9 closings on its own, a third of the month.

The month came in quieter than July on count & higher on price, which is a mix story rather than an appreciation story. July had 33 closings at a $422,000 median because so much of what sold was in the lower price bands. August had fewer sales & a heavier share of them in the mid & upper mid market, so the median moved up without any individual home being worth more than it was in July.

Can I trust the median & the average this month?

Both, & that is unusual enough to mention. August’s $615,000 average sits within 3% of the $595,000 median, & 52% of sales closed below it. July needed a caveat because one $6.5 million closing left 82% of sales under the average. August’s top sale was $1,795,000.

When the median & the average agree, you are looking at a month where the middle of the market really is the middle of the market. That matters if you are building a budget from these numbers, since a distorted average quietly tells you homes cost more than they do.

Why are homes taking about six months to sell?

Because inventory gives buyers time & most sellers still launch above what comparable homes closed at. The median stretched from 173 days in July to 184 in August, & the share selling inside 90 days fell from 27% to 15%. Nearly one in five August closings had been listed over a year.

I want to be careful here. Two months & 27 sales cannot tell you whether this is the ordinary summer lull or a genuine slowdown, & anyone claiming certainty from a sample this size is selling you something. What I can tell you is what has held true all year: homes priced at the closed comparables moved, & homes priced at aspiration collected reductions & then sold for roughly the same number several months later.

What should I do with this if I am buying?

Use the calendar as leverage. A seller 400 days into a listing is in a very different frame of mind than one who launched in July, & August gave us plenty of the former. Bring closed comparables to the offer, not asking prices, & ask how long the home has been listed before you fall in love with it.

Here is where the month gives a buyer room:

Pair that with a fall visit while the rain is still finishing, which I make the case for in why September is the best month to walk through a house, & you get both leverage & an honest look at the property. If you want the process laid out end to end, the Buyer’s Roadmap walks it stage by stage.

What should I do with this if I am selling?

Price at the closed comparables on day 1 & plan on roughly 6 months to a signed contract, plus 30 to 45 days to close. The homes that sold quickly in August were the ones launched at a number the market had already paid for something similar. The ones that sat opened high.

Practically, that means resisting the temptation to test a number. Testing costs you the first 60 days, which are the only days your listing is genuinely new to every buyer watching. My approach to launch pricing, photography & positioning is on the selling your home page, & I will give you the honest read before we list rather than after.

What about land?

3 land parcels closed in August & they are reported entirely separately. Land is excluded from every price, median, average & days-on-market figure in the report, because lot pricing behaves nothing like house pricing & mixing them makes both numbers useless.

If you are looking at land, judge it on its own comparables, on access & services, & on what building here actually costs. Lot deals in San Miguel move on very different math than a finished home in Centro.

How does August fit into the year so far?

Closings by month in 2026 have run 25, 38, 31, 26, 34, 27, 33, & 27 from January through August. August sits comfortably inside that range, so the count is normal. The lengthening time to sell is the figure worth watching over the next two months.

For the wider picture, the first half of 2026 report covers 185 sales, 603 new listings & the pricing discipline story in detail, & the market updates hub keeps every month in one place.

Does the exchange rate change any of this?

Only on the peso-denominated side. Most listings marketed to foreign buyers are quoted in dollars, so a softer peso does not discount them. Peso-priced sales in this report are converted to dollars at the prevailing rate published by Banco de México.

Where the currency genuinely shows up is your local spending: renovation labor, materials, property tax & utilities. I walk through the second-half outlook in the peso outlook for 2026, & the short version is that the property & the price matter more than the currency.

Where do these numbers come from?

Closed sales recorded in the AMPI San Miguel de Allende MLS from August 1 to 31, 2026, compiled September 4. 32 raw records were cleaned to 27 home & condo closings: 2 rental listings miscoded as sales were removed, & 3 land parcels were split out.

I publish the cleaning rules with the report because a raw MLS export overstates the market, & a market you are making a six-figure decision in deserves numbers you can audit. The full August report lists the methodology in plain language.

My final thought

August was a slower, higher-priced, more patient month, & patience is the whole strategy in a market where the median home takes half a year to sell. If you want me to run these figures against a specific home or a specific budget, reach out through the get started page, or start with the free Insider’s Guide.