St. Croix Realtors Joe & Julie San Martin

 

November 2023

 

Which St Croix Price Ranges are Selling?

First 10 months of 2019 through 2023

 

Residential

2019

162 home sales closed January through October; there were 218 homes for sale

 0.74 buyers for every seller

2020

136 home sales closed January through October; there were 129 homes for sale

1.05 buyers for every seller

2021

183 home sales closed January through October; there were 90 homes for sale

2.03 buyers for every seller

2022

157 home sales closed January through October; there were 96 homes for sale

1.64 buyers for every seller

2023

114 home sales closed January through October; there were 123 homes for sale

0.93 buyers for every seller

  

Condominium

2019

116 condominium sales closed January - October; there were 73 condos for sale

1.59 buyers for every seller

2020

71 condominium sales closed January - October; there were 78 condos for sale

0.91 buyers for every seller

2021

131 condominium sales closed January - October; there were 26 condos for sale

5.04 buyers for every seller

2022

127 condominium sales closed January - October; there were 30 condos for sale

4.23 buyers for every seller

2023

82 condominium sales closed January - October; there were 49 condos for sale

1.67 buyers for every seller

 

 

Vacant Land

2019

118 land sales closed January through October; there were 511 lots for sale

0.23 buyers for every seller

2020

112 land sales closed January through October; there were 391 lots for sale

0.29 buyers for every seller

2021

158 land sales closed January through October; there were 373 lots for sale

0.42 buyers for every seller

2022

175 land sales closed January through October; there were 336 lots for sale

0.52 buyers for every seller

2023

132 land sales closed January through October; there were 332 lots for sale

0.40 buyers for every seller

 

 

SALES BY PRICE RANGE

 

Residential

 

2023

% of Sales

2023

Sales

2022

% of Sales

2022

Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

Sales Price

%19

22

%11

18

%16

30

32%

44

36%

59

Under $200K

%34

39

%25

33

%25

45

29%

39

28%

46

$200K - $400K

%14

16

%21

33

%17

31

16%

22

15%

25

$400K - $600K

%11

13

%10

16

%19

34

10%

14

9%

14

$600K - $800K

%11

12

%8

13

%11

21

2%

3

6%

10

$800K - $1 Million

%11

12

%28

44

%12

22

10%

14

5%

8

Over $1 Million

 

 

 

Condominium

 

2023

% of Sales

2023 Sales

2022

% of Sales

2022 Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

 % of Sales

2019 Sales

Sales Price

%2

2

%6

8

%2

2

7%

5

19%

22

Under $100K

%28

23

%23

29

%27

36

31%

22

37%

43

$100K - $200K

%29

24

%31

40

%33

43

37%

26

22%

26

$200K - $300K

%32

26

%35

45

%31

41

22%

16

18%

21

$300K - $500K

%9

7

%4

5

%7

9

3%

2

3%

4

Over $500K

 

Vacant Land

 

2023

% of Sales

2023 Sales

2022

% of Sales

2022 Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

Sales Price

%43

57

%39

68

%41

65

74%

83

62%

73

Under $50K

%31

41

%30

53

%32

50

12%

13

20%

24

$50K - $100K

%22

29

%23

41

%23

36

10%

11

17%

20

$100K - $300K

%4

5

%7

13

%4

7

4%

5

1%

1

Over $300K

 

 

Information is from MLS and deemed to be reliable but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

October 2023

 

Ten Year Comparison

St Croix Real Estate Inventory Levels

 

TOTAL INVENTORY

 

Residential

58% fewer homes (160) than ten years ago.

The highest inventory during this period was 9/15/14 with 274 homes on the market.

Lowest inventory during this period was 9/15/21 with only

88 homes for sale.

 

Condominium

GIGANTIC decrease over the ten-year period!

Ten years ago, there were three times as many condominiums on the market (145) as were for sale on 9/15/23 (42).

The highest inventory during this period was 9/15/14, with 145 condominiums for sale.

The lowest inventory during this period was 9/15/22 with only 22 condos for sale.

 

Vacant Land

32% fewer lots (157) than ten years ago.

The highest inventory during this period was 9/15/16 with 535 lots on the market.

9/15/2022 is the lowest inventory of the ten-year period with only.

328 lots for sale.

 

 

INVENTORY BY PRICE RANGE

 

Residential

 

Under $200,000 listings (12%) are 23% lower than ten years ago as percentage of total inventory. Compared to last year, this segment decreased by 3%.

$200,000 to $400,000 listings (29%) have remained relatively constant over the 10-year period, varying from 24% of inventory (9/15/18) to 34% of inventory (9/15/14).

$400,000 to $600 listings (16%) are 6% higher compared to 10 years ago and the highest for this period. Lowest was 10% (9/15/14).

$600,000 to $800,000 listings (8%) are 1% higher than ten years ago.

$800,000 to $1,000,000 listings (4%) are the same as ten years ago. The highest percentage of the 10-year period was 11% (9/15/21).

Listings over $1,000,000 (33%) have more than doubled over the 10-year period. The lowest level was 9/15/14, at just 12% of total inventory, highest was 33% (9/15/23).

 

Condominium

 

Under $100,000 listings are currently only 2% of total condo listings, down from a high of 25% (9/15/14).

$100,000 to $200,000 listings (10%) decreased by 35% of total inventory when compared to 10 years ago. On 9/15/16, this price range represented 46% of the total condominium inventory.

$200,000 to $300,000 listings are at 31% of total inventory, more than double 10 years ago (14%).

$300,000 to $500,000 listings, at 43% of total inventory, have increased 32% compared to ten years ago. The lowest level was 11% on 9/15/14.

Listings over $500,000 represent 15% of the total condominium market, an increase of 11% compared to ten years ago.

 

Vacant Land

 

Under $50,000 listings (16%) are less than half of 10 years ago (35%). The highest percentage of total inventory (44%) was 9/15/17.

$50,000 to $100,000 listings (37%) have remained relatively constant over the 10-year period.

$100,000 to $300,000 listings (28%) have also remained relatively constant over the ten years. Lowest percentage was 9/15/17, at 22% of total land inventory.

Listings over $300,000 (19%) increased 8% when compared to ten years ago. The lowest levels were 2016 and 2017 when this segment of the market decreased to 9% of total land listings.

 

 

 

 

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

September 2023

 

A Tale of Two Islands

St Croix and St Thomas Real Estate Sales

Ten Year Comparison Year to Date

Number of Sales

Residential

Residential sales on St Thomas decreased 8% (5 homes) compared to ten years ago. On St Croix, the number of homes sold decreased 23% (26 homes) compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Homes Sold

+39%

114

+46%

67

Jan – Aug 2014

(-25%)

85

(-19%)

54

Jan – Aug 2015

+38%

117

+37%

74

Jan – Aug 2016

+5%

123

+4%

77

Jan – Aug 2017

+3%

127

+9%

84

Jan – Aug 2018

+6%

134

+1%

85

Jan – Aug 2019

(-23%)

103

(-35%)

55

Jan – Aug 2020

+48%

152

+78%

98

Jan – Aug 2021

(-13%)

134

(-40%)

70

Jan – Aug 2022

(-34%)

88

(-11%)

62

Jan – Aug 2023

Condominium

Condominium sales increased 26% (18 condos) on St Thomas, compared to ten years ago. On St Croix, the number of condos sold decreased 17% (14 condos), compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Condos Sold

+52%

82

+35%

70

Jan – Aug 2014

(-16%)

69

(-6%)

66

Jan – Aug 2015

+16%

80

+38%

91

Jan – Aug 2016

+11%

89

+7%

98

Jan – Aug 2017

(-19%)

72

(-28%)

71

Jan – Aug 2018

+36%

98

+32%

94

Jan – Aug 2019

(-44%)

55

(-32%)

64

Jan – Aug 2020

+98%

109

+136%

151

Jan – Aug 2021

+2%

111

(-49%)

77

Jan – Aug 2022

(-39%)

68

+14%

88

Jan – Aug 2023

Vacant Land

Vacant land sales on St Thomas increased 50% (15 lots), compared to ten years ago. On St Croix, land sales increased 253% (76 lots) compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Lots Sold

(-27%)

30

+43%

30

Jan – Aug 2014

+57%

47

+27%

38

Jan – Aug 2015

+15%

54

(-29%)

27

Jan – Aug 2016

+30%

70

+59%

43

Jan – Aug 2017

(-12%)

62

(-33%)

27

Jan – Aug 2018

+55%

96

+37%

37

Jan – Aug 2019

(-17%)

80

+5%

39

Jan – Aug 2020

+58%

126

+77%

69

Jan – Aug 2021

+17%

147

(-17%)

57

Jan – Aug 2022

(-28%)

106

(-21%)

45

Jan – Aug 2023

Residential

Average Sales Price

The average St Thomas residential sales price increased 51% ($394,860) compared to ten years ago. On St Croix, the average home sales price increased 64% ($213,070) when compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average Home Sales Price

+16%

$332,572

+16%

$772,334

Jan – Aug 2014

+28%

$426,719

(-11%)

$689,658

Jan – Aug 2015

(-18%)

$350,076

(-14%)

$594,317

Jan – Aug 2016

+12%

$393,754

(-2%)

$583,676

Jan – Aug 2017

(-32%)

$342,041

(-10%)

$524,735

Jan – Aug 2018

+18%

$403,103

+27%

$666,577

Jan – Aug 2019

+8%

$437,163

+6%

$709,626

Jan – Aug 2020

+36%

$594,970

+26%

$896,493

Jan – Aug 2021

+47%

874,628$

+20%

1,078,479$

Jan – Aug 2022

(-38%)

545,642$

+8%

1,167,194$

Jan – Aug 2023

St Thomas Home Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$34,000

$4,400,000

Jan – Aug 2015

$85,000

$6,000,000

Jan – Aug 2016

$49,000

$2,990,000

Jan – Aug 2017

$9,000

$3,200,000

Jan – Aug 2018

$55,000

$3,150,000

Jan – Aug 2019

$40,000

$5,650,000

Jan – Aug 2020

$81,000

$2,800,000

Jan – Aug 2021

$80,000

$5,900,000

Jan – Aug 2022

$80,000

$3,400,000

Jan – Aug 2023

$150,000

$4,500,000

St Croix Home Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$35,000

$1,680,000

Jan – Aug 2015

$31,000

$6,250,000

Jan – Aug 2016

$40,000

$2,500,000

Jan – Aug 2017

$17,000

$2,212,500

Jan – Aug 2018

$37,500

$1,600,000

Jan – Aug 2019

$35,000

$2,975,000

Jan – Aug 2020

$35,000

$1,900,000

Jan – Aug 2021

$55,000

$2,500,000

Jan – Aug 2022

$55,000

$9,500,000

Jan – Aug 2023

$34,000

$3,200,000

Median sales price is the midpoint - half of all homes sold for more than this price, half sold for less.

For St Thomas, the median home sales price is 83% higher ($405,000) compared to ten years ago. On St Croix, the median home sales price increased 21% ($63,500) when compared to ten years ago.

Median Home Sales Price

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Home Sales Price

+11%

$299,000

(-5%)

$490,000

Jan – Aug 2014

(-15%)

$255,000

No change

$492,000

Jan – Aug 2015

(-14%)

$220,000

No change

$492,500

Jan – Aug 2016

+27%

$280,000

(-18%)

$405,000

Jan – Aug 2017

No change

$279,000

(-6%)

$380,000

Jan – Aug 2018

No change

$280,500

+6%

$405,000

Jan – Aug 2019

+16%

$325,000

+14%

$568,060

Jan – Aug 2020

+49%

$485,000

+18%

$667,500

Jan – Aug 2021

+16%

$562,000

+31%

$875,000

Jan – Aug 2022

(-36%)

$362,500

+2%

$895,000

Jan – Aug 2023

Condominium

Average Sales Price

The average St Thomas condominium sales price increased 97% ($213,170) compared to ten years ago. On St Croix, average sales price increased 87% ($135,725) when compared to ten years ago.

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average condo Sales Price

(-8%)

$155,356

(-2%)

$219,512

Jan – Aug 2014

+30%

$202,402

+3%

$227,064

Jan – Aug 2015

(-17%)

$168,023

+21%

$274,901

Jan – Aug 2016

(-2%)

$164,630

(-7%)

$254,416

Jan – Aug 2017

+23%

$203,095

(-1%)

$252,387

Jan – Aug 2018

+2%

$207,834

(-1%)

$250,208

Jan – Aug 2019

+17%

$243,895

+5%

$263,459

Jan – Aug 2020

+18%

$287,464

+29%

$339,825

Jan – Aug 2021

(-1%)

$283,594

+12%

$380,683

Jan – Aug 2022

+3%

$291,081

+14%

$432,682

Jan – Aug 2023

St Thomas Condominium Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$39,000

$770,000

Jan – Aug 2015

$55,000

$940,000

Jan – Aug 2016

$30,000

$1,690,000

Jan – Aug 2017

$24,000

$665,000

Jan – Aug 2018

$53,000

$780,000

Jan – Aug 2019

$72,000

$600,000

Jan – Aug 2020

$119,000

$730,000

Jan – Aug 2021

$21,000

$1,437,500

Jan – Aug 2022

$65,000

$1,600,000

Jan – Aug 2023

$77,000

$1,193,000

St Croix Condominium Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$30,000

$775,000

Jan – Aug 2015

$22,500

$1,150,000

Jan – Aug 2016

$22,500

$700,000

Jan – Aug 2017

$33,000

$570,000

Jan – Aug 2018

$34,000

$570,000

Jan – Aug 2019

$41,000

$650,000

Jan – Aug 2020

$62,000

$1,060,000

Jan – Aug 2021

$74,900

$1,295,000

Jan – Aug 2022

$69,000

$1,000,000

Jan – Aug 2023

$98,000

$627,500

 

Compared to ten years ago, the median condominium sales price increased 142% ($235,000) on St Thomas and 118% ($140,875) on St Croix.

Median Condominium Sales Price

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Condo Sales Price

(-18%)

$119,125

(-5%)

$165,000

Jan – Aug 2014

+26%

$150,000

+9%

$180,000

Jan – Aug 2015

(-10%)

$135,000

+19%

$215,000

Jan – Aug 2016

+7%

$145,000

+2%

$220,000

Jan – Aug 2017

+17%

$170,000

(-10%)

$198,562

Jan – Aug 2018

+9%

$185,000

+13%

$225,000

Jan – Aug 2019

+22%

$225,000

(-1%)

$222,500

Jan – Aug 2020

+16%

$260,000

+30%

$290,000

Jan – Aug 2021

(-4%)

$249,500

+12%

$325,000

Jan – Aug 2022

+4%

$260,000

+23%

$400,000

Jan – Aug 2023

Vacant Land

Average Sales Price

The average St Thomas land sales price increased 115% ($124,867) compared to ten years ago. On St Croix, average land sales price increased 195% ($84,824) compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average lot Sales Price

+85%

$80,162

+16%

$126,172

Jan – Aug 2014

(-3%)

$78,055

(-26%)

$91,737

Jan – Aug 2015

(-2%)

$76,518

+97%

$181,144

Jan – Aug 2016

(-7%)

$71,529

+24%

$225,455

Jan – Aug 2017

(-6%)

$67,655

(-51%)

$110,830

Jan – Aug 2018

(-21%)

$53,597

+55%

$172,270

Jan – Aug 2019

+53%

$81,949

(-38%)

$107,410

Jan – Aug 2020

+55%

$126,840

+71%

$183,522

Jan – Aug 2021

+1%

$128,249

+27%

$233,224

Jan – Aug 2022

(-6%)

$120,021

+39%

$325,003

Jan – Aug 2023

St Thomas Land Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$15,000

$900,000

Jan – Aug 2015

$20,000

$370,000

Jan – Aug 2016

$8,000

$900,000

Jan – Aug 2017

$20,000

$2,100,000

Jan – Aug 2018

$30,000

$600,000

Jan – Aug 2019

$35,000

$990.000

Jan – Aug 2020

$40,000

$375,000

Jan – Aug 2021

$25,000

$1,065,000

Jan – Aug 2022

$30,000

$2,500,000

Jan – Aug 2023

$65,000

$2,800,000

St Croix Land Sales Prices

 

Lowest

Highest

Jan – Aug 2014

$8,000

$370,000

Jan – Aug 2015

$13,000

$348,000

Jan – Aug 2016

$16,000

$335,000

Jan – Aug 2017

$12,000

$500,000

Jan – Aug 2018

$15,000

$350,000

Jan – Aug 2019

$14,000

$275,000

Jan – Aug 2020

$14,000

$999,999

Jan – Aug 2021

$7,000

$3,000,000

Jan – Aug 2022

$20,000

$2,150,000

Jan – Aug 2023

$5,000

$2,100,000

Median Land Sales Price

On St Thomas, the median lot sales price increased 111% ($94,500) compared to ten years ago. On St Croix, the median lot sales price increased 52% ($21,500) compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Lot Sales Price

+14%

$39,500

+1%

$85,000

Jan – Aug 2014

+1%

$40,000

(-35%)

$55,000

Jan – Aug 2015

+64%

$65,500

+78%

$98,000

Jan – Aug 2016

(-43%)

$37,250

(-13%)

$85,000

Jan – Aug 2017

+7%

$40,000

(-6%)

$80,000

Jan – Aug 2018

No change

$40,000

No change

$80,000

Jan – Aug 2019

(-9%)

$36,500

(-12%)

$70,000

Jan – Aug 2020

+40%

$51,000

+71%

$119,500

Jan – Aug 2021

+25%

$64,000

+5%

$125,000

Jan – Aug 2022

(-6%)

$60,000

+44%

$179,500

Jan – Aug 2023

Total Market (Millions)

The St Thomas total residential market increased 40% ($20.7 million) compared to ten years ago. On St Croix, total residential market increased 27% ($10.1 million) compared to ten years ago.

 

 

Residential

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Homes Sold

+61%

$37.9

+69%

$51.7

Jan – Aug 2014

(-4%)

$36.3

(-28%)

$37.2

Jan – Aug 2015

+13%

$41.0

+18%

$44.0

Jan – Aug 2016

+18%

$48.4

+2%

$44.9

Jan – Aug 2017

(-10%)

$43.4

(-2%)

$44.1

Jan – Aug 2018

+24%

$54.0

+29%

$56.7

Jan – Aug 2019

(-17%)

$45.0

(-31%)

$39.0

Jan – Aug 2020

+101%

$90.4

+125%

$87.9

Jan – Aug 2021

+130%

$117.2

(-14%)

$75.5

Jan – Aug 2022

(-59%)

$48.0

(-4%)

$72.4

Jan – Aug 2023

The St Thomas total condominium market increased 147% ($22.7 million) compared to ten years ago. On St Croix, the total condominium market increased 56% ($7.1 million) compared to ten years ago.

Condominium

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Condos Sold

+38%

$12.7

+33%

$15.4

Jan – Aug 2014

+10%

$14.0

(-3%)

$15.0

Jan – Aug 2015

(-4%)

$13.4

+67%

$25.0

Jan – Aug 2016

+9%

$14.6

No change

$24.9

Jan – Aug 2017

No change

$14.6

(-38%)

$17.9

Jan – Aug 2018

+40%

$20.4

+31%

$23.5

Jan – Aug 2019

(-34%)

$13.4

(-28%)

$16.9

Jan – Aug 2020

+134%

$31.3

+203%

$51.3

Jan – Aug 2021

+1%

$31.5

(-43%)

$29.3

Jan – Aug 2022

(-37%)

$19.8

+30%

$38.1

Jan – Aug 2023

The St Thomas total land market increased 284% ($10.8 million) compared to ten years ago. On St Croix, total land market increased 429% ($10.3 million) compared to ten years ago.

Vacant Land

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Lots Sold

+33%

$2.4

+65%

$3.8

Jan – Aug 2014

+54%

$3.7

(-8%)

$3.5

Jan – Aug 2015

+11%

$4.1

+40%

$4.9

Jan – Aug 2016

+24%

$5.1

+102%

$9.9

Jan – Aug 2017

(-18%)

$4.2

(-70%)

$3.0

Jan – Aug 2018

+45%

$6.1

+113%

$6.4

Jan – Aug 2019

+8%

$6.6

(-34%)

$4.2

Jan – Aug 2020

+186%

$18.9

+202%

$12.7

Jan – Aug 2021

(-1%)

$18.8

+5%

$13.3

Jan – Aug 2022

(-32%)

$12.7

+10%

$14.6

Jan – Aug 2023

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

August 2023

 

 

Sales Price and Marketing Time on St Croix

"Annual Supply" represents the number of years it will take at the current annual rate of sales to sell all the properties for sale

in a specific area.

East End B

Far East End

Inventory

Nine years ago (July 2014), there was a 1.4 year supply of homes and a 1.4 year supply of condominiums on the market.

Home inventory has increased while condominium inventory has depleted.

There is now a 2 year supply of homes (an increase of 1.4 years compared to last year) and a 4 month (0.3 year) supply of condominiums in this quarter, the same as last year.

Average Sales Price

Average home sales price ($1,080,000) decreased $302,492 (22%) since last year ($1,382,492), the highest of this 10-year period.

At $448,572, condominium average sale price is the highest of this 10-year period, a $67,072 (18%) increase over last year ($381,500).

East End A

Christiansted east to Coakley Bay

Inventory

Nine years ago (July 2014), there was a 2-year supply of homes and a 3.8 year supply of condominiums on the market.

Inventory decreased by about 11 months for homes, to a 1.1 year supply, an increase of 7 months compared to last year.

Inventory decreased by 3 years for condominiums, to a 10 month (0.8 year) supply, an increase of 6-months compared to last year.

Average Sales Price

Average residential sale price ($1,094,289) is 166% higher than nine years ago ($410,596) and $30,823 (3%) lower than last year ($1,125,112), the highest of the 10-year period.

Condominium average sale price ($331,500) is 52% higher than nine years ago ($217,938) and the highest of the 10-year period.

 

Company

Christiansted west to east side of Judiths Fancy

Inventory

Nine years ago (July 2014), there was a 1.9-year supply of homes and a 1.8 year supply of condominiums on the market.

Residential inventory decreased by about 11 months, to a 1-year supply of homes, an increase of 6 months compared to last year.

Condominium inventory decreased by 1.2 years, to a 7-month supply of condominiums for sale, an increase of 2 months compared to last year.

Average Sales Price

Average home sale price increased 86% ($191,318), from $221,182 in 2014 to $412,500 for the 12 months ending July 2023.

The highest average home sales price ($453.731) was for the 12-month period ending July 2021

Average condominium sale price increased 97% ($111,883), from $114,859 nine years ago to $226,742 for the 12 months ending July 2023.

Queen

Constitution Hill west to La Reine, includes southwest Judiths Fancy

Inventory

Nine years ago (July 2014), there was a 2.7-year supply of homes and a 1.1-year supply of condominiums on the market.

Home inventory decreased by 1.9 years, to a 10-month (0.8 year) supply, over the ten-year period and the same as the previous year.

Condominium inventory decreased by 7 months over the 10-year period, to a 6-month supply for the 12 months ending July 2023, a 2-month increase over the previous period.

Average Sales Price

Average residential sale price increased 41% ($117,313) over the ten-year period, from $288,288 in 2014 to $405,578 for the 12 months ending July 2023. Residential sales price decreased $99,938 (20%) since last year.

Average condo sale price increased 121% ($97,495) over the ten-year period, from

$80,592 in 2014 to $178,087 for the 12 months ending July 2023, nearly identical to the previous period.

Northside A & B

North shore from north Judiths Fancy west to Hamms Bluff

Inventory

Nine years ago (July 2014), there was a 1.5-year supply of homes and a 2.4-year supply of condominiums on the market.

Residential inventory increased by about 2 months, to an 8-month supply of homes.

Condominium inventory decreased by 1.9 years, to a 6-month supply of condominiums in this quarter, about 2 months more than last year.

Average Sales Price

Average home sale price ($1,015,273) increased by $503,314 (98%), compared to nine years ago ($511,959). Average home sale price decreased $252,546 (20%) since last year ($1,267,819).

Average condominium sales price increased $276,568 (115%) over the ten-year period, from $239,700 for the 12 months ending July 2014 to $516,268 for the 12 months ending July 2023, the highest average sale price of the 10-year period, an increase of $160,868 (45%) compared to last year ($355,400).

King

South shore from La Reine west to UVI

Inventory

Nine years ago (July 2014), there was a 3.4-year supply of homes.

There are no condominiums in King Quarter.

Residential inventory decreased 2 years, compared to nine years ago, to 1.4 years of inventory for the 12 months ending July 2023, the same as the previous year.

Average Sales Price

Average home sale price increased $98,728 (77%) over the ten-year period, from $128,000 for the 12 months ending July 2014 to $226,728 for the 12-months

ending July 2023. Average home sale price decreased $71,972 (24%) compared to last year ($298,700).

Prince

South shore from UVI west to Williams Delight

Inventory

Nine years ago (July 2014), there was a 2.7-year supply of homes and a 4.3-year supply of condominiums on the market.

Residential inventory decreased by 1.7 years, to a 1-year supply of homes, an increase of 2-months compared to the previous year (10 months).

Condominium inventory decreased 3 years to a 4-month supply, an increase of 1 month compared to the previous year.

Average Sales Price

Homes saw a sales price increase of $65,636 (32%) when compared to nine years ago, from $207,444 for the 12 months ending July 2014 to $273,080

for the 12 months ending July 2023. Average homes sale price decreased $144,391 (35%) compared to last year ($417,471).

Condominiums experienced a $219,665 (138%) increase in average sale price over the ten-year period, from $159,333 for the 12 months ending July 2014 to

$378,998 for the 12 months ending July 2023.

Average condo sales price increased $18,543 (5%) since last year

West End

South from Mahogany Road, East to Williams Delight

Inventory

Nine years ago (July 2014), there was a 4.2-year supply of homes and a 3-year supply of condominiums on the market.

Over the ten-year period, residential inventory decreased 3.2 years, to a 1-year supply of homes for the 12 months ending July 2023, a decrease of 5 months compared to the previous year.

Condominium inventory decreased by 2.4 years, to a 7-month supply for the 12 months ending July 2023, a decrease of 7 months compared to the previous year.

Average Sales Price

Average home sale price increased $172,949 (86%) over the ten-year period, from $201,625 for the 12 months ending July 2014 to $374,574 for the

12 months ending July 2023, a $2,739 (1%) increase over last year ($371,835).

Average condominium sale price increased $25,550 (28%) over the ten-year period, from $92,450 for the 12 months ending July 2014 to $118,000

for the 12 months ending July 2023, a $154,317 (43%) decrease over the previous year ($272.317).

Conclusion

Over the ten year period, average home sale prices increased to more than

$1 Million in these quarters:

  • East End A
  • East End B
  • Northside A & B

In the other five quarters, home sales prices were one half to one third the average of the east end and the north shore home sale prices:

  • Company
  • Queen
  • West End
  • Prince
  • King

Condominium sales prices were more consistent, with a $398,268 difference between the highest average price (Northside A & B at $516,268) and the lowest.

(West End at $118,000)

Both home and condo inventories are increasing, except for Queen and King Quarters with unchanged home inventory and West End with a 5-month reduction of home inventory. For condos, East End B showed no change in inventory levels, West End experienced a 7-month reduction in condo inventory, all other quarters saw a slight increase in inventory.

All quarters have less than a one-year inventory of condos, only Queen Quarter has less than a one-year inventory of homes.

Only Company and West End Quarters saw an increase in average home sale prices. Average home sale prices decreased in all other quarters.

  • Prince – 35% decrease
  • King – 24% decrease
  • East End B – 22%
  • Northside A & B – 20% decrease
  • East End A – 3% decrease

Information is from MLS and deemed to be reliable but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

 

 

 

July 2023

 

15 year look at the St Croix Real Estate Market for the 12 month period ending 30 June

 

St Croix real estate market boom cycle is over.

 

Previous St Croix real estate market boom was July 2005 / June 2006,

then thirteen years of slow recovery

 

Total number of properties sold

 

·         Residential – During the past 12 months, the number of homes sold (147) is near the average number of homes sold per year for the 15-year period (149) and significantly lower than the previous seven 12-month periods, with the exception of 2019 / 2020. Currently there are 131 active home listings and 42 pending home sales, a 24% pending rate.

·         Condominiums – During the past 12 months, the number of condominiums sold (105) was slightly higher than the average number of condos sold per year for this 15-year period (95). Compared to the previous period (163 sales) this is a 36% decrease in the number of condos sold. Current inventory level is 48 active and 19 pending condominiums, a 28% pending rate.

·         Land – Number of lots sold (175) during the past 12 months is significantly higher than the average number of lots sold per year for the 15 year period (113). Compared to the previous 12-month period (218 lots), this is a 20% decrease in number of lots sold. In this category there is plenty of inventory with 341 active lot listings and 43 pending lot sales, an 11% pending rate.

 

Average sales price

 

·         Residential – Average home sales price decreased 25% ($187,530) compared to the previous 12-month period to $577,759 from $765,289. The 2022 / 2023 average is 31% higher than the average sales price for the 15-year period ($441,136)

·         Condominiums – Average condominium sales price ($307,043) is the highest of the 15-year period, exceeded the previous period (2021/2022) by 14%!

·         Land – Average lot sales price ($126,444) is the highest of the 15-year period, exceeding the average for this period ($84,904) by 49% ($41,540).

 

 

Total Market

Number of properties sold x Average sales price

 

·         Residential – Huge market readjustment! Total residential market declined 50% when compared to the previous 12 months, from $166.8 Million for 2021/2022 to $84.9 Million. The 2022/2023 period did however exceed the 15-year average housing market ($67.9 Million) by $17 Million (25%).

·         Condominiums – The past 12 months’ sales ($32.2 Million) represent a $13.7 Million (30%) decrease from the 2021/2022 period ($45.9 Million). The 2022/2023 period exceeded the 15-year average condo market ($20.6 Million) by $11.6 Million (44%). 

·         Land – The past 12 months sales ($22.1 Million) represent a $4.6 Million (17%) decrease from the 2021/2022 period ($26.7 Million). The 2022/2023 period exceeded the 15-year average land market ($10.5 Million) by $11.6 Million (44%). 

 

Conclusion

 

Compared to 15 years ago, the total St Croix real estate market increased 67%, from $83.6 Million

(July 2008 to June 2009) to $139.2 million

(July 2022 to June 2023)

An average of 4.5% growth per year

 

Compared to the previous 12-month period, total

St Croix real estate sales decreased by $100 million (42%) from $239.4 Million to $139.2 Million.

 

The St Croix real estate market boom has ended,

 the market is readjusting.

  

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

June 2023

 

Changes in the St Croix Real Estate Market

Inventory levels by price range reflect the seller’s expectations.

The attached graphs compare changes in asking prices over the past decade, using 15 May inventory levels.

 

BIG changes in sellers expectations!

 

Residential

·         The lowest price range (under $200,000) accounted for about one third of the St Croix residential inventory from 2014 through 2018. This segment now represents only 11% of inventory. 15% of home sales on St Croix over the past 12 months were for $200,000 or less; 11% of inventory accounted for 15% of all sales.

·         The second tier ($200,000 to $400,000) has consistently accounted for about 30% of inventory except for 2020 and 2021, when this segment declined to 21% of inventory. This segment has now returned to 29% of inventory. 35% of St Croix home sales over the past 12 months were between $200,000 and $400,000; 29% of inventory accounted for 35% of sales.

·         Homes listed for more than $400,000 account for 60% of the inventory, an increase of 24% over the decade. During the past 12 months, this price range accounted for 50% of all homes sold.

·         Homes listed for more than $1,000,000 increased to 26% of the inventory (42 homes), from just 11% a decade ago. During the past 12 months, this price range accounted for 14% (22 homes) of the total 158 homes sold. 26% of the inventory accounted for just 14% of home sales.

 

Condominium

·         The lowest price range (under $100,000) was 30% of condominium inventory 10 years ago; by May 2023 there were no condominiums for sale for less than $100,000. 5% of condominium sales (5 condos) on St Croix over the past 12 months were for $100,000 or less.

·         The second tier ($100,000 to $200,000) consistently included 40% of the inventory until 2019. In May 2023 this segment was 19% (one fifth) of total condominium inventory. 28% of all sales over the past 12 months were between $100,000 and $200,000. 19% of inventory accounted for 28% of condominium sales.

·         Condominiums listed for more than $200,000 increased to 81% of inventory, compared to only 30% of condo inventory 10 years ago. 67% of the 108 condominiums sold over the past 12 months were sold for more than $200,000. 81% of inventory accounted for 67% of Condominium sales.

 

 

Land

·         The lowest price range (under $50,000) decreased by 17%, compared to 10 years ago, from 33% to 16% of total inventory. 16% of inventory accounted for 40% of sales (69 lots) over the past 12 months.

·         The middle tier ($50,000 to $300,000) accounted for 57% of land inventory 10 years ago. In May 2022, this segment accounted for 62%, very little change. 54% of all land sales on St Croix (94 lots) over the past 12 months were between $50,000 and $300,000.

·         Lots listed for more than $300,000 increased 12%, compared to 10 years ago, from 10% to 22% of total listing inventory. 6% of land sales on St Croix over the past 12 months (11 parcels) were sold for more than $300,000. 22% of inventory accounted for 6% of sales over the past 12 months.

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

May 2023

 

Inventory Levels and Sales Projections

 

May Inventory Levels

10 Year Review

 

Residential

Residential inventory peaked in 2016 with 262 homes for sale and declined through 2022. Current inventory of 115 homes for sale is 44% of the number of homes for sale in 2016.

 

Condominium

Condominium inventory peaked in 2014 with 171 condominiums for sale and declined through 2022. Condominium inventory reduction is even greater; current inventory of 38 condos is just 22% of 2014 condominium inventory.

 

Land

Land inventory peaked in 2016 / 2017 with 544 lots for sale and slowly declining through 2023. Current inventory of 324 lots is 60% of the 2016 / 2017 inventory.

 

May Pending Sale Levels

10 Year Review

 

Residential

May 2023 residential pending sales (51) are nearly identical to the number of pending residential sales 10 years ago (50). The average number of pending residential sales over the 10 year period is 69; the May 2023 number of pending sales (51) is 74% of the 10 year average.

 

Condominium

May 2023 condominium pending sales (23) are slightly lower than 10 years ago (25). Current pending condominium sales (23) are 77% of the 10 year average of 30 pending condominium sales.

 

Land

May 2023 pending land sales (55) are more than double pending contracts 10 years ago (20).  Current pending land sales (55) are 122% of the 10 year average of 45 pending land sales in May.

 

 

 

 

2023 Sales Predictions

 

Using the assumption that the first 4 months of 2023 is a valid predictor for the entire year.

 

Residential

The first four months home sales predict 120 home sales during 2023; pending contracts predict 153 home sales during 2023. Inventory levels of 115 homes on the market suggest the lower number to be more likely.

 

Condominium

The first four months condominium sales predict 87 condominium sales during 2023; pending contracts predict 69 condominium sales during 2023. Inventory levels of only 38 condominiums on the market suggest the lower number to be more likely.

 

Land

The first four months land sales predict 147 land sales during 2023; pending contracts predict 165 land sales during 2023. With ample land inventory and dwindling home and condo inventory, it is entirely possible there will be 165 land sales during 2023, a 19% reduction from the number of lots sold (203) during 2022.

 

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

April 2023

1st Quarter Sales as Predictor for the full year

 

2022 was the 15th year of the St Croix real estate market “recovery” from the real estate boom years of 2006 through 2008. The two Category 5 hurricanes in September 2017 and the 2020 pandemic were not helpful.

 

The St Croix real estate market made a strong recovery, is now beginning to show signs of contraction.

 

The question is – what do the 1st quarter statistics predict about market prospects for the rest of the year?

 

First, a look at inventory trends over the

15 year period:

 

·         Residential inventory peaked in 2012, with 340 homes for sale, then steadily declined each year to the low point of only 85 homes for sale in 2022. Residential inventory is now increasing, slowly.

·       Condominium inventory peaked in 2010, with 265 condominiums for sale, then steadily declined each year to the low point of only 46 condos on the market in 2019, inventory increased slightly in 2020 and 2021. The 2022  level of only 14 condominiums for sale has nearly tripled but continues at a very low level of only 38 condos on the market during the 1st quarter of 2023.

·       Land inventory also peaked in 2010, at 610 lots for sale. Until 2020, land inventory was between 566 lots for sale and 443 lots for sale. For the past three years, 1st quarter land inventory has been in the low to mid-300 lot range.  

 

Residential Sales & 2023 Predictions

 

Until 2017 (Irma Maria Hurricanes), the actual number of homes sold annually exceeded the prediction based on 1st quarter sales. In 2018, 1st quarter sales underestimated actual number of homes sales by 40%. In 2019, 1st quarter sales slightly overestimated the total annual sales number. The 2020 1st quarter sales prediction of only 104 home sales for the year underestimated the actual number (167) by 61%. The 2021 prediction of 172 home sales was 27% low, actual number of sales was 219. The 2022 prediction was only 12% (20 homes) low. The 2023 1st quarter prediction of 120 home sales annually is 37% lower than actual 2022 home sales of 192.

 

With the exception of 2009 through 2011, the 1st quarter average sales price was a fairly accurate predictor of the annual home sales price. The 2021 and 2022 1st quarter average sales price over-predicted annual average sales price by 12% to 15%. The 2023 1st quarter prediction of $570,767 predicts a 26% decrease in average home sales price for 2023.

  

Here is the prediction for 2023 overall:

·         Total number of homes sold will be as predicted, around 120 homes.

·         Average sales price will most likely be in the $600,000 range.

 

Condominium Sales & 2023 Predictions

 

This is a much smaller market, with just a few units built since the 1980s. It is more difficult to identify trends because the sample is significantly smaller.

 

From 2014 through 2019 there were more than 100 condominium sales annually on St Croix. During 2020, there were only 84 condominiums sold on St Croix. 2021 and 2022 were record-breaking years with 162 and 140 condominium sales respectively. First quarter 2023 condominium sales predict only 82 condominium sales during 2023.

 

1st quarter average sale price has, in most cases, been fairly close, with the exception of 2009.

 

Here is the prediction for 2023 overall:

·         Total number of condominiums sold will be under 100, probably about the same as 2020.

·         Average sales price will most likely be in the high $200,000 range.

 

Land Sales & 2023 Predictions

 

Both predicted and actual number of lots sold have been trending in the right direction since 2014. The 2020 prediction of only 80 annual lot sales underestimate actual sales (155) by nearly 50%. The 2021 prediction of 140 lot sales underestimated actual (192) by 37%. The 2022 prediction was close. The 2023 1st quarter figure predicts only 136 lot sales during 2023.    

 

From 2014 through 2017, the average lot sales price was in the $70,000 range, decreasing by about $10, 00 for the subsequent 2 years. In 2020, average lot sales price retuned to the low $70,000 range, as predicted by 1st quarter sales. The 2021 and 2022 predicted average lot sale price were about 17% and 23% low respectively. The 2023 1st quarter prediction is $102,515.

 

Here is the prediction for 2023 overall:

·         Total number of lots sold will be slightly under 200.

·         The 2023 average lot sales price will be in the $100,000 range.

 

 

 

 

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

March 2023

Home Sales

St Thomas vs St Croix

A 19 Year Look

 

Total Number of Properties Sold

·         Over the 19 year period, more homes sold every year on St Croix than on St Thomas.

·         Over the 19-year period, the highest number of homes sold was in 2021 for St Croix with 219 home sales and 2018 for St Thomas with 133 home sales; 2021 was nearly the same, with 132 home sales on St Thomas.

·         During 2022, 102 more homes were sold on St Croix than on St Thomas.

·         Over the 19-year period, the fewest number of homes sold on St Croix (88) was during 2012, the fewest number of homes sold on St Thomas (53) was during 2011.

 

Average Sales Price

·         For the past 19 years, the annual average home sale price on St Thomas has exceeded that of St Croix.

·         For 2022, the average St Thomas home sale price was 109% higher, at $1,059,152, than the 2004 average sales price ($507,000).

·         The average annual home sale price on St Croix for 2022 was also 109% higher, at $771,242, than the 2004 average home sale price ($368,248).

·         For 2022, the average sale price of a home on St Croix ($771,242) was 73% of the average sales price of a home on St Thomas ($1,059,152).  

 

Total Market in Millions of Dollars

·         This measurement is a combination of total homes sold multiplied by average sales price; it gives the best overview of annual market performance.

·         During this 19-year period, the total St Thomas residential market exceeded the total St Croix market during six years: 2008, 2012, 2013, 2014, 2015, and 2018.

·         During 2022, the total St Croix residential market exceeded the total St Thomas residential market by about $52.8 Million.  

 

 

 

Information is from MLS and deemed to be reliable but is not guaranteed.

Prepared by:

Julie San Martin Team Manager

 

 

 

February 2023

The St Croix Real Estate Cycle

An 19 Year Look

 

2022 Was another Record Setting Year for Home Sales, Land Continues to Rebound

 

Total Number of Properties Sold

·         The number of homes sold on St Croix during 2022 (192) is only 8 homes higher than during 2004, 19 years ago. The 2022 average home sale price ($771,242) was more than double the 2004 average home sale price ($368,248)

·         There were 140 condominium sales on St Croix during 2022, exceeded only by 2004 (185 condos sold), 2005 (208 condos sold), 2006 (162 condos sold), and 2021 (162 condos sold).

·         There were 203 lot sales in 2022, the highest number of sales since 2008.

 

Average Sales Price

·         At $771,242, the average 2022 home sales price was extraordinary, exceeding last year’s record setting average of $618,943 by $152,299!

·         The 2022 average condominium sales price ($284,681) is also the highest of this 19-year period, exceeding the next highest price of $279,013 (2021) by $5,668.

·         The average 2022 lot sales price ($134,042) is exceeded only by 2008, with an average lot sales price of $155,357.

 

Total Market in Millions of Dollars

·         The 2022 total residential market ($148.1 million) exceeded last year ($135 million), the next highest, by $13.1 million.

·         The 2022 total condominium market ($39.9 million) fell $5.3 million short of 2021’s record setting $45.2 million.

·         The 2022 total land market ($27.2 million) is the best performance we have seen since 2008 ($34.8 million).

 

 

 

Information is from MLS and deemed to be reliable but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

January 2023

10 Year St Croix Home Sales Price Trends

 

The average sales price of a home on St Croix increased $452,795 over the

10-year period; this is a 142% increase.

 

Total number of homes sold increased 61% (73 homes) since 2013.

 

All areas of the island did not perform the same.

 

East End B

Far East End

 

Compared to 9 years ago, the average sales price of a home increased 228% ($1,029,313 increase).

The number of homes sold in a year increased by 4 homes, compared to 9 years ago.

21 homes sold in 2013, 25 homes sold in 2022.

 

 

East End A

Christiansted East to Coakley Bay

 

Compared to 9 years ago, the average sales price of a home increased 212%

($815,511 increase).

The number of homes sold in a year increased by 10 homes, compared to 9 years ago;

 23 homes sold in 2013, 33 homes sold in 2022

 

Company

Christiansted West to the East Side of Judiths Fancy

 

Compared to 9 years ago, the average sales price of a home increased 40% ($114,329 increase).

The number of homes sold in a year increased by 2 homes, compared to 9 years ago,  

from 17 home sales in 2013 to 19 home sales in 2022.

 

Queen

Constitution Hill West to La Reine, includes southwest

Judiths Fancy

 

Compared to 9 years ago, the average sales price of a home increased 58%

($170,829 increase).

The number of homes sold in a year doubled, from 22 homes sold in 2013 to 44 home sales in 2022.

 

 

Northside A & B

North Shore from North Judiths Fancy to Hamms Bluff

 

Compared to 9 years ago, the average sales price of a home increased 261% ($958,542 increase).

The number of homes sold in a year more than doubled.

7 homes sales closed in 2013, 17 home sales closed in 2022.

 

King

South Shore from La Reine West to UVI

 

Compared to 9 years ago, the average sales price of a home increased 42%

($68,355 increase).

More than twice as many homes closed in 2022 (10), compared to 2013

(4 home sales).

 

Prince

South Shore from UVI West to Williams Delight

 

Compared to 9 years ago, the average sales price of a home increased 35%

($104,394 increase).

Three times as many homes sold in 2022 (17) compared to

 2013 (5 home sales).

 

West End

South Shore, South from Mahogany Road,

East to Williams Delight

 

Compared to 9 years ago, the average sales price of a home increased 210%

($298,212 increase).

The number of homes sold in a year increased by 6 homes, compared to 9 years ago; from 14 homes sales in 2013 to 20 homes sales in 2022.

 

 

Observations

Average home sales prices in three areas of the island consistently exceed the

island wide “average” home sales price:

·         East End B

·         East End A

·         Northside A & B

 

Average home sales prices are consistently much lower than the island wide “average” home sales price:

·         King

 

Center island and west end average home sales prices are about “average”:

·         Company

·         Queen

·         Prince

·         West End

 

More homes sold in all quarters during 2022, when compared to 2013.

 

Compared to 2021, the island wide average home sale price increased 25%.

All quarters experienced increased average sales prices.

 

Compared to 2013, all quarters experiences higher average home sale prices during 2022.

 

 

December 2022

Ten Year Inventory Level Trends

 

Current Annual supply represents the number of years it will take at the current rate of sales to sell all the properties listed in a specific area (Quarter) of St Croix.

[Active Listings + Pending Listings] /

Number of Listings Sold During the Previous 12 Months

For example:

In November 2022, there were 16 active and 3 pending home sales in East End B, with 27 home sales in the previous 12 months, for a 0.7-year supply of homes for sale

 

[16 + 3] / 27 = 0.7 Years or 8 months

 

East End B

Far East End

Residential

Compared to 9 years ago, home inventory decreased by 1.2 years;

average sales price has more than tripled; from $461,500 to $1,435,148.

 

Compared to last year, average time on the market increased slightly, by 1.2 months;

average sales price increased 51% (from $949,238 to $1,435,148)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased by 1.7 years; average sales price increased 78%, from $244,658 to $436,276

 

Compared to last year, average time on the market is unchanged at about 2 months;

average sales price increased 9% (from $398,645 to $436,276)

 

Vacant Land

Compared to 9 years ago, land inventory decreased by 4 years,

from 6 years to 2 years;

average sales price increased 97% (from $70,059 to $138,051)

 

Compared to last year, land inventory decreased by 1.3 years;

 average sales price decreased 21% (from $173,668 to $138,051)


 

 

 

East End A

Christiansted East to Coakley Bay

Residential

Compared to 9 years ago, home inventory decreased 1.9 years,

from 2.5 years to 0.6 years;

 average home sale price increased 191%; from $417,060 to $1,213,621.

 

Compared to last year, residential inventory decreased by about 4 months;

average sales price increased 46% (from $831,653 to $1,213,621)

 

Condominium

Compared to 9 years ago, condominium inventory decreased by 10.6 years

(from 10.7 years to 1 month);

average condominium sales price increased 14% (from $248,000 to $283,556)

 

Compared to last year, condominium inventory decreased by 2 months;

average sales price decreased 9% (from $310,978 to $283,556)

 

Vacant Land

Compared to 9 years ago, land inventory decreased by 3.1 years,

from 5.3 years to 2.2 years;

average lot sales price doubled (from $62,562 to $124,992)

 

Compared to last year, land inventory is unchanged at 2.2 years;

average lot sales price decreased 2% (from $127,931 to $124,992)

 

Company

Christiansted West to the East Side of Judiths Fancy

Residential

Compared to 9 years ago, residential inventory decreased 2 years;

average home sales price increased 35% (from $298,529 to $402,350)

 

Compared to last year, residential inventory increased by 2 months;

 average home sales price decreased 18% (from $487,337 to $402,350)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased 3.1 years (from 3.5 years to 5 months);

average sales price increased 116% (from $107,579 to $231,848)

 

Compared to last year, condominium inventory decreased by 5 months;

average sales price increased 8% (from $215,059 to $231,848)

 

Vacant Land

9 years ago, no lot sales were reported in Company Quarter, inventory is now 1.4 years;

average lot sales price for the past 12 months is $96,620

 

Compared to last year, land inventory decreased by 11 months,

 average sales price increased 3% (from $94,094 to $96,620)

 

Queen

Constitution Hill West to La Reine, includes southwest

Judiths Fancy

Residential

Compared to 9 years ago, residential inventory decreased by 1.5 years

(from 2.2 years to 0.7 years);

average sales priced increased 74% (from $288,552 to $500,948)

 

Compared to last year, residential inventory decreased by 2 months;

average sales price increased 15% (from $435,593 to $500,948)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased by

2.7 years (from 3.1 years to 5 months);

average condominium sales price increased 68% (from $103,429 to $173,769)

 

Compared to last year, condominium inventory decreased by 2 months;

 average sales price increased 4% (from $166,412 to $173,769)

 

Vacant Land

Compared to 9 years ago, land inventory decreased by

7.5 years (from 9.1 years to 1.6 years);

average lot sales price increased 164% (from $47,400 to $125,100)

 

Compared to last year, land inventory increased by 6 months;

 the average lot sales price increased 75% (from $71,588 to $125,100)

 

Northside A & B

North Shore from North Judiths Fancy to Hamms Bluff

Residential

Compared to 9 years ago, residential inventory decreased by 7.3 years;

average home sales price increased 259% (from $362,900 to $1,302,389)

 

 

 

Compared to last year, residential inventory decreased by 4 months;

 average home sales price increased 51% (from $860,104 to $1,302,389)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased by

7 months (from 1.4 years to 10 months);

average sales price increased 58% (from $227,200 to $358,375)

 

Compared to last year, condominium inventory increased by 8 months;

average sales price decreased 9%, from $328,489 to $358,375.

 

Vacant Land

Compared to 9 years ago, land inventory decreased by

16.1 years (from 19.3 years to 3.2 years);

average lot sales price increased 169% (from $51,333 to $137,952)

 

Compared to last year, land inventory increased by 1 year;

average lot sales price decreased 36% (from $216,458 to $137.952)

 

King

South Shore from La Reine West to UVI

Residential

Compared to 9 years ago, residential inventory decreased by

10.1 years (from 12 years to 1.9 years);

average home sales price increased 95% (from $103,500 to $201,850)

 

Compared to last year, residential inventory increased by

1.2 years (from 8 months to 23 months);

average residential sales price decreased 18% (from $246,545 to $201,850)

 

Condominium

            There are no condominium complexes in King Quarter

 

Vacant Land

Compared to 9 years ago, land inventory decreased by 11 months,

From 2.8 years to 1.9 years;

Average lot sales price increased 310% (from $36,300 to $148,878)

 

Compared to last year, land inventory decreased by

4 months (from 2.2 years to 1.9 years);

average lot sales price increased 46% (from $101,615 to $148,878)


 

 

 

Prince

South Shore from UVI West to Williams Delight

Residential

Compared to 9 years ago, residential inventory decreased by

2.1 years (from 2.7 years to 7 months);

average residential sales price increased 37% (from $289,167 to $395,221)

 

Compared to last year, residential inventory decreased by 7 months;

average residential sales price increased 31% (from $300,886 to $395,221)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased by 2.2 years, from 2.4 years to 2 months;

Average condominium sales price increased 131% (from $158,900 to $367,272).

 

Compared to last year, condominium inventory decreased by 5 months

average condominium sale price increased 27% (from $288,375 to $367,272)

 

Vacant Land

Compared to 9 years ago, land inventory decreased by

8.4 years (from 10.2 years to 1.8 years);

average lot sales price increased 3% (from $113,583 to $117,040)

 

Compared to last year, land inventory decreased by 4 months;

average lot sales price increased 45% (from $80,833 to $117,040)

 

West End

South Shore, South from Mahogany Road,

East to Williams Delight

Residential

Compared to 9 years ago, residential inventory decreased by 1.5 years

(from 2.9 years to 1.4 years);

average home sale price increased 227%, from $142,200 to $464,953)

 

Compared to last year, residential inventory increased by 11 months;

average home sale price increased 1% (from $462,055 to $464,953)

 

Condominium

            Compared to 9 years ago, condominium inventory decreased by 11 months (from 1.3 years to 5 months)

average condominium sales price decreased 17% (from $145,000 to $120,980)

 

Last year, there was no condominium inventory in West End Quarter, this year there is a 5 month inventory;

average condominium sales price decreased 51%, from $244,375 to $120,980.

 

Vacant Land

Compared to 9 years ago, land inventory decreased by 4.1 years,

from 5.6 years to 1.5 years;

average lot sales price increased 182% (from $50,082 to $141,315)

 

Compared to last year, land inventory decreased by 1.8 years;

average lot sales price increased 74% (from $81,306 to $141,315)

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

November 2022

 

Which St Croix Price Ranges are Selling?

First 10 months of 2018 through 2022

 

(units for sale represent a running average )

 

Residential

2018

166 home sales closed January through October; there were 143 homes for sale

1.16 buyers for every seller

2019

162 home sales closed January through October; there were 218 homes for sale

            0.74 buyers for every seller 

2020

136 home sales closed January through October; there were 129 homes for sale

1.05 buyers for every seller        

 

2021

183 home sales closed January through October; there were 90 homes for sale

2.03 buyers for every seller

2022

157 home sales closed January through October; there were 96 homes for sale

1.64 buyers for every seller

 

Condominium

 2018

94 condominium sales closed January - October; there were 47 condos for sale

2 buyers for every seller

2019

116 condominium sales closed January - October; there were 73 condos for sale

1.59 buyers for every seller

2020

71 condominium sales closed January - October; there were 78 condos for sale

0.91 buyers for every seller

2021

131 condominium sales closed January - October; there were 26 condos for sale

5.04 buyers for every seller

2022

127 condominium sales closed January - October; there were 30 condos for sale

4.23 buyers for every seller

 

 

Vacant Land

2018

90 land sales closed January through October; there were 445 lots for sale

0.20 buyers for every seller

2019

118 land sales closed January through October; there were 511 lots for sale

0.23 buyers for every seller

2020

112 land sales closed Janua5ry through October; there were 391 lots for sale

0.29 buyers for every seller

2021

158 land sales closed January through October; there were 373 lots for sale

0.42 buyers for every seller

2022

175 land sales closed January through October; there were 336 lots for sale

0.52 buyers for every seller

 

SALES BY PRICE RANGE

 

Residential

 

2022

% of Sales

2022

Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

2018

% of Sales

2018 Sales

Sales Price

%11

18

%16

30

32%

44

36%

59

40%

66

Under $200K

%25

33

%25

45

29%

39

28%

46

28%

46

$200K - $400K

%21

33

%17

31

16%

22

15%

25

19%

31

$400K - $600K

%10

16

%19

34

10%

14

9%

14

8%

13

$600K - $800K

%8

13

%11

21

2%

3

6%

10

3%

5

$800K - $1 Million

%28

44

%12

22

10%

14

5%

8

3%

5

Over $1 Million

 

 

 

Condominium

 

2022

% of Sales

2022 Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

 % of Sales

2019 Sales

2018

 % of Sales

2018 Sales

Sales Price

%6

8

%2

2

7%

5

19%

22

14%

13

Under $100K

%23

29

%27

36

31%

22

37%

43

46%

43

$100K - $200K

%31

40

%33

43

37%

26

22%

26

24%

23

$200K - $300K

%35

45

%31

41

22%

16

18%

21

15%

14

$300K - $500K

%4

5

%7

9

3%

2

3%

4

1%

1

Over $500K

 

 

Vacant Land

 

2022

% of Sales

2022 Sales

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

2018

% of Sales

2018 Sales

Sales Price

%39

68

%41

65

74%

83

62%

73

64%

58

Under $50K

%30

53

%32

50

12%

13

20%

24

18%

16

$50K - $100K

%23

41

%23

36

10%

11

17%

20

16%

14

$100K - $300K

%7

13

%4

7

4%

5

1%

1

2%

2

Over $300K

 

 

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

 

October 2022

Ten Year Comparison

St Croix Real Estate Inventory Levels

TOTAL INVENTORY

Residential

68% fewer homes (190) than ten years ago.

Highest inventory during this period was 9/15/13 with 288 homes on the market

Lowest inventory during this period was 9/15/21 with only

88 homes for sale.

Condominium

GIGANTIC decrease over the ten-year period!

Ten years ago, there were nine times as many condominiums on the market (198) as were for sale on 9/15/22 (22).

Highest inventory during this period was 9/15/13, with 198 condominiums for sale.

Vacant Land

35% fewer lots (174) than ten years ago.

9/15/2022 is the lowest inventory of the ten-year period with only

328 lots for sale.

 

INVENTORY BY PRICE RANGE

Residential

Under $200,000 listings (14%) are 52% lower than ten years ago as percentage of total inventory. Compared to last year, this segment increased by 3%.

$200,000 to $400,000 listings (31%) have remained relatively constant over the 10-year period, varying from 24% of inventory (9/15/18) to 34% of inventory (9/15/14).

$400,000 to $600 listings (16%) are the same as 10 years ago and the highest for this period. Lowest was 10% (9/15/14).

$600,000 to $800,000 listings (10%) are 2% higher than ten years ago.

$800,000 to $1,000,000 listings (7%) are 1% higher than ten years ago. The highest percentage of the 10-year period was 11% (9/15/21).

Listings over $1,000,000 (22%) have doubled over the 10-year period. Lowest level was 9/15/13, at just 11% of total inventory, highest was 32% (9/15/21).

Condominium

Under $100,000 listings are currently only 2% of total condo listings, down from a high of 29% (9/15/13).

$100,000 to $200,000 listings (23%) decreased by 20% of total inventory when compared to 10 years ago. On 9/15/16, this price range represented 46% of the total condominium inventory.

$200,000 to $300,000 listings are at 30% of total inventory, 3% less than last year and 13% higher than 10 years ago (17%).

$300,000 to $500,000 listings, at 32% of total inventory, have increased 25% compared to ten years ago. Lowest level was just 7% on 9/15/13.

Listings over $500,000 represent 13% of the total condominium market, an increase of 7% compared to last year.

Vacant Land

Under $50,000 listings (18%) are half of 10 years ago (36%). The highest percentage of total inventory (44%) was 9/15/17.

$50,000 to $100,000 listings (32%) have remained relatively constant over the 10-year period

$100,000 to $300,000 listings (28%) have also remained relatively constant over the ten years. Lowest percentage was 9/15/17, at 22% of total land inventory.

Listings over $300,000 (22%) increased 13% when compared to ten years ago. Lowest levels were 2013, 2016, and 2017 when this segment of the market decreased to 9% of total land listings.

 

 

 

 

 

Information is from MLS and deemed to be reliable, but is not guaranteed.

Prepared by:

Julie San Martin

Team Manager

 

 

September 2022

 

A Tale of Two Islands

St Croix and St Thomas Real Estate Sales

Ten Year Comparison Year to Date

 

Number of Sales

Residential

Residential sales on St Thomas increased 52% (24 homes) compared to ten years ago. On St Croix, the number of homes sold increased 63% (52 homes) compared to ten years ago.

 

% increase

(decrease)

Year over year

St Croix

% increase

 (decrease)

Year over year

St Thomas

Number of Homes Sold

 

82

 

46

Jan – Aug 2013

+39%

114

+46%

67

Jan – Aug 2014

(-25%)

85

(-19%)

54

Jan – Aug 2015

+38%

117

+37%

74

Jan – Aug 2016

+5%

123

+4%

77

Jan – Aug 2017

+3%

127

+9%

84

Jan – Aug 2018

+6%

134

+1%

85

Jan – Aug 2019

(-23%)

103

(-35%)

55

Jan – Aug 2020

+48%

152

+78%

98

Jan – Aug 2021

(-13%)

134

(-40%)

70

Jan – Aug 2022

Condominium

Condominium sales increased 48% (25 condos) on St Thomas, compared to ten years ago. On St Croix, the number of condos sold increased 105% (57 condos), compared to ten years ago.

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Condos Sold

 

54

 

52

Jan – Aug 2013

+52%

82

+35%

70

Jan – Aug 2014

(-16%)

69

(-6%)

66

Jan – Aug 2015

+16%

80

+38%

91

Jan – Aug 2016

+11%

89

+7%

98

Jan – Aug 2017

(-19%)

72

(-28%)

71

Jan – Aug 2018

+36%

98

+32%

94

Jan – Aug 2019

(-44%)

55

(-32%)

64

Jan – Aug 2020

+98%

109

+136%

151

Jan – Aug 2021

+2%

111

(-49%)

77

Jan – Aug 2022

Vacant Land

Vacant land sales on St Thomas increased 171% (36 lots), compared to ten years ago. On St Croix, land sales increased 258% (106 lots) compared to ten years ago.  

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Lots Sold

 

41

 

21

Jan – Aug 2013

(-27%)

30

+43%

30

Jan – Aug 2014

+57%

47

+27%

38

Jan – Aug 2015

+15%

54

(-29%)

27

Jan – Aug 2016

+30%

70

+59%

43

Jan – Aug 2017

(-12%)

62

(-33%)

27

Jan – Aug 2018

+55%

96

+37%

37

Jan – Aug 2019

(-17%)

80

+5%

39

Jan – Aug 2020

+58%

126

+77%

69

Jan – Aug 2021

+17%

147

(-17%)

57

Jan – Aug 2022

Residential

Average Sales Price

The average St Thomas residential sales price increased 62% ($413,349) compared to ten years ago. On St Croix, the average home sales price increased 204% ($586,866) when compared to ten years ago.

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average Home Sales Price

 

$287,762

 

$665,130

Jan – Aug 2013

+16%

$332,572

+16%

$772,334

Jan – Aug 2014

+28%

$426,719

(-11%)

$689,658

Jan – Aug 2015

(-18%)

$350,076

(-14%)

$594,317

Jan – Aug 2016

+12%

$393,754

(-2%)

$583,676

Jan – Aug 2017

(-32%)

$342,041

(-10%)

$524,735

Jan – Aug 2018

+18%

$403,103

+27%

$666,577

Jan – Aug 2019

+8%

$437,163

+6%

$709,626

Jan – Aug 2020

+36%

$594,970

+26%

$896,493

Jan – Aug 2021

+47%

874,628$

+20%

1,078,479$

Jan – Aug 2022

St Thomas Home Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$100,000

$3,300,000

Jan – Aug 2014

$34,000

$4,400,000

Jan – Aug 2015

$85,000

$6,000,000

Jan – Aug 2016

$49,000

$2,990,000

Jan – Aug 2017

$9,000

$3,200,000

Jan – Aug 2018

$55,000

$3,150,000

Jan – Aug 2019

$40,000

$5,650,000

Jan – Aug 2020

$81,000

$2,800,000

Jan – Aug 2021

$80,000

$5,900,000

Jan – Aug 2022

$80,000

$3,400,000

St Croix Home Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$35,000

$800,000

Jan – Aug 2014

$35,000

$1,680,000

Jan – Aug 2015

$31,000

$6,250,000

Jan – Aug 2016

$40,000

$2,500,000

Jan – Aug 2017

$17,000

$2,212,500

Jan – Aug 2018

$37,500

$1,600,000

Jan – Aug 2019

$35,000

$2,975,000

Jan – Aug 2020

$35,000

$1,900,000

Jan – Aug 2021

$55,000

$2,500,000

Jan – Aug 2022

$55,000

$9,500,000

 

Median sales price is the midpoint - half of all homes sold for more than this price, half sold for less.

 

For St Thomas, the median home sales price is 70% higher ($360,000) compared to ten years ago. On St Croix, the median home sales price increased 108% ($292,000) when compared to ten years ago.

 Median Home Sales Price

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Home Sales Price

 

$270,000

 

$515,000

Jan – Aug 2013

+11%

$299,000

(-5%)

$490,000

Jan – Aug 2014

(-15%)

$255,000

No change

$492,000

Jan – Aug 2015

(-14%)

$220,000

No change

$492,500

Jan – Aug 2016

+27%

$280,000

(-18%)

$405,000

Jan – Aug 2017

No change

$279,000

(-6%)

$380,000

Jan – Aug 2018

No change

$280,500

+6%

$405,000

Jan – Aug 2019

+16%

$325,000

+14%

$568,060

Jan – Aug 2020

+49%

$485,000

+18%

$667,500

Jan – Aug 2021

+16%

$562,000

+31%

$875,000

Jan – Aug 2022

 

Condominium

Average Sales Price

 

The average St Thomas condominium sales price increased 70% ($157,079) compared to ten years ago. On St Croix, average sales price increased 67% ($114,031) when compared to ten years ago.

 

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average condo Sales Price

 

$169,563

 

$223,604

Jan – Aug 2013

(-8%)

$155,356

(-2%)

$219,512

Jan – Aug 2014

+30%

$202,402

+3%

$227,064

Jan – Aug 2015

(-17%)

$168,023

+21%

$274,901

Jan – Aug 2016

(-2%)

$164,630

(-7%)

$254,416

Jan – Aug 2017

+23%

$203,095

(-1%)

$252,387

Jan – Aug 2018

+2%

$207,834

(-1%)

$250,208

Jan – Aug 2019

+17%

$243,895

+5%

$263,459

Jan – Aug 2020

+18%

$287,464

+29%

$339,825

Jan – Aug 2021

(-1%)

$283,594

+12%

$380,683

Jan – Aug 2022

St Thomas Condominium Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$38,000

$550,000

Jan – Aug 2014

$39,000

$770,000

Jan – Aug 2015

$55,000

$940,000

Jan – Aug 2016

$30,000

$1,690,000

Jan – Aug 2017

$24,000

$665,000

Jan – Aug 2018

$53,000

$780,000

Jan – Aug 2019

$72,000

$600,000

Jan – Aug 2020

$119,000

$730,000

Jan – Aug 2021

$21,000

$1,437,500

Jan – Aug 2022

$65,000

$1,600,000

St Croix Condominium Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$40,000

$545,000

Jan – Aug 2014

$30,000

$775,000

Jan – Aug 2015

$22,500

$1,150,000

Jan – Aug 2016

$22,500

$700,000

Jan – Aug 2017

$33,000

$570,000

Jan – Aug 2018

$34,000

$570,000

Jan – Aug 2019

$41,000

$650,000

Jan – Aug 2020

$62,000

$1,060,000

Jan – Aug 2021

$74,900

$1,295,000

Jan – Aug 2022

$69,000

$1,000,000

 

 

Compared to ten years ago, the median condominium sales price increased 87% ($151,250) on St Thomas and 73% ($105,000) on St Croix.

 

Median Condominium Sales Price

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Condo Sales Price

 

$144,500

 

$173,750

Jan – Aug 2013

(-18%)

$119,125

(-5%)

$165,000

Jan – Aug 2014

+26%

$150,000

+9%

$180,000

Jan – Aug 2015

(-10%)

$135,000

+19%

$215,000

Jan – Aug 2016

+7%

$145,000

+2%

$220,000

Jan – Aug 2017

+17%

$170,000

(-10%)

$198,562

Jan – Aug 2018

+9%

$185,000

+13%

$225,000

Jan – Aug 2019

+22%

$225,000

(-1%)

$222,500

Jan – Aug 2020

+16%

$260,000

+30%

$290,000

Jan – Aug 2021

(-4%)

$249,500

+12%

$325,000

Jan – Aug 2022

 

Vacant Land

Average Sales Price

The average St Thomas land sales price increased 115% ($124,867) compared to ten years ago. On St Croix, average land sales price increased 195% ($84,824) compared to ten years ago.

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Average lot Sales Price

 

$43,425

 

$108,357

Jan – Aug 2013

+85%

$80,162

+16%

$126,172

Jan – Aug 2014

(-3%)

$78,055

(-26%)

$91,737

Jan – Aug 2015

(-2%)

$76,518

+97%

$181,144

Jan – Aug 2016

(-7%)

$71,529

+24%

$225,455

Jan – Aug 2017

(-6%)

$67,655

(-51%)

$110,830

Jan – Aug 2018

(-21%)

$53,597

+55%

$172,270

Jan – Aug 2019

+53%

$81,949

(-38%)

$107,410

Jan – Aug 2020

+55%

$126,840

+71%

$183,522

Jan – Aug 2021

+1%

$128,249

+27%

$233,224

Jan – Aug 2022

 

St Thomas Land Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$35,000

$250,000

Jan – Aug 2014

$15,000

$900,000

Jan – Aug 2015

$20,000

$370,000

Jan – Aug 2016

$8,000

$900,000

Jan – Aug 2017

$20,000

$2,100,000

Jan – Aug 2018

$30,000

$600,000

Jan – Aug 2019

$35,000

$990.000

Jan – Aug 2020

$40,000

$375,000

Jan – Aug 2021

$25,000

$1,065,000

Jan – Aug 2022

$30,000

$2,500,000

St Croix Land Sales Prices

 

Median Land Sales Price

On St Thomas, the median lot sales price increased 48% ($40,500) compared to ten years ago. On St Croix, the median lot sales price increased 86% ($29,500) compared to ten years ago.

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Median Lot Sales Price

 

$34,500

 

$84,500

Jan – Aug 2013

+14%

$39,500

+1%

$85,000

Jan – Aug 2014

+1%

$40,000

(-35%)

$55,000

Jan – Aug 2015

+64%

$65,500

+78%

$98,000

Jan – Aug 2016

(-43%)

$37,250

(-13%)

$85,000

Jan – Aug 2017

+7%

$40,000

(-6%)

$80,000

Jan – Aug 2018

No change

$40,000

No change

$80,000

Jan – Aug 2019

(-9%)

$36,500

(-12%)

$70,000

Jan – Aug 2020

+40%

$51,000

+71%

$119,500

Jan – Aug 2021

+25%

$64,000

+5%

$125,000

Jan – Aug 2022

 

Total Market (Millions)

 

The St Thomas total residential market increased 147% ($44.9 million) compared to ten years ago. On St Croix, total residential market increased 397% ($93.6 million) compared to ten years ago and currently exceeds St Thomas by $41.7 million for this period.

 

 

Residential

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Homes Sold

 

$23.6

 

$30.6

Jan – Aug 2013

+61%

$37.9

+69%

$51.7

Jan – Aug 2014

(-4%)

$36.3

(-28%)

$37.2

Jan – Aug 2015

+13%

$41.0

+18%

$44.0

Jan – Aug 2016

+18%

$48.4

+2%

$44.9

Jan – Aug 2017

(-10%)

$43.4

(-2%)

$44.1

Jan – Aug 2018

+24%

$54.0

+29%

$56.7

Jan – Aug 2019

(-17%)

$45.0

(-31%)

$39.0

Jan – Aug 2020

+101%

$90.4

+125%

$87.9

Jan – Aug 2021

+130%

$117.2

(-14%)

$75.5

Jan – Aug 2022

 

The St Thomas total condominium market increased 152% ($17.7 million) compared to ten years ago. On St Croix, the total condominium market increased 242% ($22.3 million) compared to ten years ago and currently exceeds St Thomas by $2.2 million for this period.

 

Condominium

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Condos Sold

 

$9.2

 

$11.6

Jan – Aug 2013

+38%

$12.7

+33%

$15.4

Jan – Aug 2014

+10%

$14.0

(-3%)

$15.0

Jan – Aug 2015

(-4%)

$13.4

+67%

$25.0

Jan – Aug 2016

+9%

$14.6

No change

$24.9

Jan – Aug 2017

No change

$14.6

(-38%)

$17.9

Jan – Aug 2018

+40%

$20.4

+31%

$23.5

Jan – Aug 2019

(-34%)

$13.4

(-28%)

$16.9

Jan – Aug 2020

+134%

$31.3

+203%

$51.3

Jan – Aug 2021

+1%

$31.5

(-43%)

$29.3

Jan – Aug 2022

 

The St Thomas total land market increased 478% ($11 million) compared to ten years ago. On St Croix, total land market increased 944% ($17 million) compared to ten years ago and currently exceeds St Thomas total market by $5.5 million for this period.

 

Vacant Land

 

% increase

(decrease)

Year over year

St Croix

% increase

(decrease)

Year over year

St Thomas

Number of Lots Sold

 

$1.8

 

$2.3

Jan – Aug 2013

+33%

$2.4

+65%

$3.8

Jan – Aug 2014

+54%

$3.7

(-8%)

$3.5

Jan – Aug 2015

+11%

$4.1

+40%

$4.9

Jan – Aug 2016

+24%

$5.1

+102%

$9.9

Jan – Aug 2017

(-18%)

$4.2

(-70%)

$3.0

Jan – Aug 2018

+45%

$6.1

+113%

$6.4

Jan – Aug 2019

+8%

$6.6

(-34%)

$4.2

Jan – Aug 2020

+186%