Record number of houses for sale

The number of homes for sale on St. John has increased at least 11% since the start of the year.  The morning’s Multiple Listing Service Web site shows a record 140 residences on the market. Asking prices are between from $365,000 for an unfinished apartment with a view of Salt Pond to a $10.4 million beauty at Hansen Bay on East End.  Something for every taste and pocketbook, perhaps.

Finally, there’s been some softening in the pricing of the total market.  While the average listing price is steady at $2.2 million, as it has been for more than a year, the median price of a listed home has fallen 6% since January to $1.6 million.  This suggests there are more lower priced properties coming on to the market.

Roughly a third of homes offered are priced between $2-$5 million, while 37% are in the $1-$2 million range. Here’s a link to the residential MLS: http://www.cruzbayrealty.com/homes.html

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