Real Estate Update: price cuts

After a short-lived reduction in the number of houses for sale on the Multiple Listing Service, inventory is climbing again.  In the past week, three residences went on the market, boosting the total to 90 – near the record of 91. 

At least one major real estate firm on island has reduced prices on three properties in its printed ad, and s fourth is marked as having an "anxious owner."

Businesses for sale and commercial offers have increased almost 30% thanks, in prt, to the re-listing of Voyages de St. Jan, formerly an upscale restaurant in a terrible location for an upscale restaurant.  Space on the first and second floors is being subdivided into condominiums for office or retail use. 

Ronnie’s Rolling Pin, a pizza place and bakery, is also on the market again, although I swear when I drove by this week I saw a laundromat there.  I’ll look again.

An additional 10 land lots have also been added to the market.

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