Villa inventory climbs, prices hold

After a two-week decline in available homes on the Multiple Listing Service, the number of villas for sale is again headed into record territory.

In late March, the MLS showed 141 properties available, a decrease from the 150 mark reached earlier in the month.  In the last three weeks, the number of listings has risen higher to 148.

But despite the growing inventory, there are few signs of fire sales.  The average asking price for a home is $2.2 million, compared with $2.16 million in January.  If you remove a Peter Bay property that's been on the market for six months or more, priced at $32 million, the average drops to $2 million.

The median price of homes for sale now is $1.5 million, compared to $1.375 million in January.

4 thoughts on “Villa inventory climbs, prices hold”

  1. As I have been watching the prices of housing on the island, it seems that there hasn’t been a market correction as there has been in the rest of the US. As long as there is a resistance to reducing the price of property, I feel it would be foolish to purchase.

  2. Why should there be correction if everyone still desires to purchase here and building costs remain high? Just because you want it cheaper does not mean it should be

  3. hello Mr. Frank, great website! are the villa advertisements just those that you own and/or associated with, or do you accept ads/postings for other houses? we have a great small rental cottage that is very popular … thanks in advance for any info! 🙂

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