Real estate update: 11/29/04

Stuffed fuller than a Thanksgiving turkey is one way to describe the inventory of residential properties on St. John right now.  There are more listings on the Multiple Listing Service than I’ve seen in a year.  An economist could be expected to say the result could be some softening in pricing, especially in the $1 to $2 million range.  But that’s between you and your real estate sales person.  (The island’s full of good ones.)

In the past 10 days, two properties came off the MLS and four were added, leaving a total of 50 homes.  Both houses removed were below the island’s median home asking price of $1.399 million.  They included a 3-bedroom/2-bath residence in Mandahl and an unfinished $895,000 Chocolate Hole, 3-bedroom/3-bath house.  Added to listings were an $829,000 Carolina 4-bedroom/4-bath, a 2-bedroom/2-bath with no pool at Enighed for $1.2 million, a 4-bedroom/4-bath Fish Bay property with no pool, at $1.85 million, and a 4-bedroom/3.5 bath with heated pool in Carolina, listed at $3.15 million.

The MLS inventory of land offerings increased by three, for the second week in a row, to 149.  Condo listings were steady at 7, timeshares also even at 93, and business/commercial properties unchanged at 9.

Leave a Comment