Judging from the Multiple Listing Service, the residential real estate business is picking up. At least eight homes have “Sale Pending” notices on their listings, the most I’ve seen in a long time. The most expensive property apparently under contract (nearly $3 million) is a new four-bedroom villa at Rendezvous Bay. Features include a pool, spa, media room and gym. The least expensive is a “cute island cottage” near Coral Bay, priced at $349,500.
In the last six weeks, the average house listing price has risen
slightly from $2.065 million to $2.167 million while the median price
of a house for sale on the MLS has held steady at $1.5 million. The
largest number of homes for sale are in Chocolate Hole, with an
average asking price of $1.8 million. Carolina (Coral Bay) has 23
homes for sale at an average of $1.2 million. There are 14 listings at
Rendezvous/Ditliff and 13 in Fish Bay.
On the commercial side, it appears the Cruz Bay Subway is back on the market, at $150,000. A week ago, the MLS showed a sale pending graphic, but it’s gone now. Meanwhile, Estate Zootenvaal (at right), located on the shore of East End’s Hurricane Hole, is offered at $14 million. It includes four short-term rental cottages and a white powder beach on nearly 5 acres. Web site: http://www.estatezootenvaal.com/