Real estate sales slow

The spike in home prices on St. John over the past few years has become a dull headache, like in hangover.  Diana Beam of Re/Max Island Paradise Realty
told the St. John Source sales are off 24 percent and the average sales
price is down 10%.  She said prices "skyrocketed" in 2005 but are now
"leveling out."  Another real estate sales person. Rosemary Sauter,
also cited the inflated prices but added business began to soften after a report of an alleged rape of a St. John woman last fall.  Sauter said that while some property values doubled and tripled before this year, now some have fallen as much as 25%.

Here’s the latest from the Multiple Listing Service.

    * Houses:  110 (up 1 from 8/13)
    * Commercial:  23 (unchanged from 8/13)
    * Condos:  41 (up 1 from 8/13)
    * Land lots:  263 (up 4 from 8/13)

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