The quarterly pace of St. John home sales rose nearly 65% in the third quarter, according to data from a local real estate firm.
Seven home sales were recorded, six of them on the island's East End. Prices ranged from $350,000 to $1.625 million, according to Cruz Bay Realty. That brings the number of homes sold this year to 16.
The average price for a home so far this year, is $923,000. That is nearly 40% below the average price paid in 2008. The average is also the lowest in six years.
There is obviously some wiggle room, as usual, between asking and sale prices. At one extreme was a property in Coral Bay priced at $419,000. It sold for at $350,000, a 16 percent discount. On the other end, a two bedroom/two bath in Coral Bay, with an asking price of $595,000 sold for nine percent more, $650,000.
Cruz Bay Realty's sales history for the island is here. It is the most current among the island's various real estate sites. Interestingly, as the Inquiring Iguana researched this item, he found two brokers whose online sales history pages stopped after 2007, as if the good times never ended. At least one other broker's site has no past sales data.
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