Something's happening. What it is ain't exactly clear.
But the Multiple Listing Service's inventory of homes for sale, about 10 days ago, hit the 150 mark. That's the highest ever, rising even from January's record level of 145.
But now, it's heading down, standing at 141.
- Link to the Multiple Listing Service via Cruz Bay Realty: http://bit.ly/dbQcqd
Houses going to contract, or owners pulling them off the market to wait for things to change? What say you? Comment here.
9 thoughts on “Villa inventory shrinking a bit”
I can’t say for sure what is happening but I know that many people are trying to rent out their properties until the market hits another upswing. Once the market hits and upswing they can sell and not lose….or so they think. Who realy knows how long that will take though?
I agree on what Becky have said.
So far this year, 2 homes have closed & 11 others are “pending” on St. John.
The pendings, is financing going through? I have not heard good things about successful financing in the island.
The house we’re caretaking (for reduced rent) has been for sale for over a year in Coral Bay. Owner dropped price from $2M to accept $1.3M cash. That’s what it took to sell it. Now we’re looking for a new place to caretake for off season while we are building our own–know Karen & Rob: 227-1110
You are my link to what is going on in St. John. I have been receiving your newsletter for years and I appreciate all that you do to keep us main landers informed.
I say its time we stop (hey, what’s that sound?)
everybody look what’s going down…
… it’s that real estate ballon slowly leak’n down . . . .
Where are these reduced vacation rentals?? My family and I used to love vacationing in St. John, but with the economic downturn haven’t been able to afford it for the past two years. I keep checking the villa rental sites, but the rental amounts listed are the same pre-downturn inflated rates — even though I notice that the their occupation calendars look a bit sparse. If owners are trying to attract vacation renters, maybe they should consider lowering their rates and ADVERTISING that.