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)