In this episode of Notes From the Field, Ronan McMahon checks in from Cabo with a broad market update after two weeks back at his base in Baja California Sur.
From surging rental demand and tightening inventory to delayed but increasingly compelling deal flow, Ronan explains why he’s more bullish than ever on Los Cabos—and why the wider region, including Todos Santos and La Paz, continues to gain strength.
Episode Description
Broadcasting from Cabo as the sun rises over the Pacific, Ronan uses this dispatch to reflect on what he’s seeing on the ground in one of the most dynamic markets on his beat.
His first takeaway is clear: rental demand is exploding. Both short-term and long-term inventory are under pressure as Cabo attracts a new wave of residents and visitors—remote workers, younger families, extended-stay renters, and lifestyle buyers rethinking where and how they want to live. What began as a tourism recovery story has evolved into something broader: a structural shift in demand for well-located, well-designed homes in one of North America’s most appealing sun-and-sea destinations.
Ronan also explains how the market itself is changing. At the lower and middle end of Cabo’s typical price spectrum, the shortage of quality condos has become especially acute. The sweet spot—two- and three-bedroom homes with views, strong amenities, and access to town and beaches—is exactly where demand is strongest. In his view, that reinforces the long-term value of the same type of inventory he has consistently targeted for RETA deals.
He also shares an update on delayed Cabo opportunities that remain in the pipeline. Though permitting and water issues have repeatedly slowed launches, Ronan says the underlying economics have only improved. Comparable inventory has moved higher, market demand has strengthened, and the price points he is targeting still look extremely attractive by Cabo standards.
Beyond Cabo San Lucas and San José del Cabo, Ronan turns to the broader Baja story. In Todos Santos, he sees a maturing boutique market increasingly reminiscent of early Tulum—high-end, design-driven, and deeply appealing to sophisticated travelers. In La Paz, he sees a quieter but increasingly attractive waterfront city benefiting from better security, stronger public spaces, and growing long-term potential.
For Ronan, the message is simple: Cabo and the broader Baja market are not cooling off—they are gaining momentum. And despite ongoing infrastructure constraints, the combination of weather, proximity, lifestyle appeal, and relative value continues to create one of the strongest long-term stories anywhere on his global beat.
In This Episode
Ronan covers:
Key Takeaway
Cabo is no longer just a vacation market. It is becoming a deeper, more durable lifestyle market driven by relocation, longer stays, remote work, and persistent inventory shortages. For the right kind of property, that creates a very powerful setup for both renta
