December St. John real estate report

There is some definite softening in the market.  Taking a look at the Multiple Listing Service, the average house on the market is now asking $2.047 million.  That’s down 11% from $2.31 million in February. 

A similar dip is evident in the median price of a home.  Eleven months ago, the midpoint was $1.7 million, now it’s n$1.5 million, off 12%.  There’s also been a slight dip in the number of properties on the MLS since last February, dropping from 133 to 127.

IscreamThe newest business listing is I Scream.  Owners of the hot dog and ice cream operation, with shops at Wharfside and Mongoose Junction, are asking $149,000.

Offering lots of encouragement, the listing says “The possibility of franchising to other islands has been considered and is a possibility for the new owners!”

6 thoughts on “December St. John real estate report”

  1. I wonder if business’s just put up a for sale sign to see if they will get bites.
    Isn’t I Scream Colette’s business?
    It is doing well so I hear on island

  2. So what does one get for 149,000.00? There’s no customer base. There’s really no inventory of any value. For the equipment? It could probably be bought for a lot less. Maybe the lease is worth something, but I would think is someone wanted to start with ice cream and hot dogs, they could lease somewhere else.
    So back to the original question. What do you get for 149,000.00.

  3. Thanks Frank for advice, but it was asked as a financial rhetorical question. You know like those financial shows I follow. 🙂
    Maybe there’s a lot of good will.

  4. Housing on the mainland are getting back to long term trended prices. Don’t know what that would mean on St. John, but would be an interresting data point.
    $149K..Sounds like someone is trying to sell a job….best of luck!

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