Residential inventory down, prices steady

The real estate market looks pretty quiet, judging from the Multiple Listing Service’s data. The number of homes for sale has fallen 18% in the past six months, but the average price of a listed home has held steady at about $2.2 million. The median price of a listed home has decreased about 10% to $1.6 million.

Cafe Roma is back on the market, formally.  The popular second-floor Italian restaurant is offered at $175,000.  Roma’s been for sale unofficially, through word of mouth, for more than a year, but now it looks like Joshlynn Crosley, the owner and a long time St. Johnian, wants to move on.

Condo-wise, while the Sirenusa construction project not only physically looms over Cruz Bay and dominates the view, it’s making up a big chunk of the condo market.  There are 17 Sirenusa offerings out of the MLS’s 55 condos. The prices range from $1.395 million for a 2-bedroom to $2.5 million for a 4-bedroom.  Half a dozen Grande Bay units are also on the list, ranging from a two-bedroom to $895,000 to another double at $1.025 million.

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