There's life in the St. John real estate market.
And there are bargains!
Data from the Multiple Listing Service shows 15 homes closed in the first six months of this year. In all of last year, 20 properties changed hands.
Should the first-half pace continue, a total of 30 homes this year would be the best performance since 2006 when 33 homes were sold.
Bargains? Did you say bargains? The MLS shows virtually every villa sold at a discount to its final asking price. The average difference was 10%.
At one extreme, a $2.25 million villa sold for $1.7 million, 25% off. On the other hand, there was a three-bedroom at Chocolate Hole, which went to contract for $13,500 more than the $999,000 asking price.
For the villa market overall, the average selling price this year, has been $1.5 million. That compares to last year's average of $1.285 million, 17% less.
- View the island's sales history at Cruz Bay Realty or Islandia Real Estate.
Good news? The villa I had a contract for next year was sold and now I have no villa since the new owner is not honoring contracts. And everything else in that area is out of our price range. So maybe good news for some but not me and my husband who now have no villa for our 20th wedding anniversary.
I am looking for a villa to do a model shoot in. It will be also a video shoot, so we need privacy . The owner needs to agree that their home will be the backdrop for a X film.
It’s interesting to see the differences in price across the scale. The 2 million dollar home going for considerably less than what they were asking and then the cheaper home going for more.