St. Croix Realtors Joe & Julie San Martin

November 2021

 

Which St Croix Price Ranges are Selling?

First 10 months of 2017 through 2021

 

Residential

2017

130 home sales closed January through October; there were 200 homes for sale

0.65 buyers for every seller

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

 

Condominium

2017

92 condominium sales closed January - October; there were 81 condos for sale

1.14 buyers for every seller

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

 

Vacant Land

2017

75 land sales closed January through October; there were 486 lots for sale

0.15 buyers for every seller

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 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

 

 

SALES BY PRICE RANGE

 

Residential

 

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

2018

% of Sales

2018 Sales

2017

% of Sales

2017 Sales

Sales Price

%16

30

32%

44

36%

59

40%

66

41%

53

Under $200K

%25

45

29%

39

28%

46

28%

46

25%

32

$200K - $400K

%17

31

16%

22

15%

25

19%

31

15%

18

$400K - $600K

%19

34

10%

14

9%

14

8%

13

8%

11

$600K - $800K

%11

21

2%

3

6%

10

3%

5

5%

7

$800K - $1 Million

%12

22

10%

14

5%

8

3%

5

7%

9

Over $1 Million

 

 

 

Condominium

 

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

 % of Sales

2019 Sales

2018

 % of Sales

2018 Sales

2017

% of Sales

2017 Sales

Sales Price

%2

2

7%

5

19%

22

14%

13

28%

26

Under $100K

%27

36

31%

22

37%

43

46%

43

49%

45

$100K - $200K

%33

43

37%

26

22%

26

24%

23

15%

14

$200K - $300K

%31

41

22%

16

18%

21

15%

14

6%

6

$300K - $500K

%7

9

3%

2

3%

4

1%

1

1%

1

Over $500K

 

 

Vacant Land

 

2021

% of Sales

2021 Sales

2020

% of Sales

2020 Sales

2019

% of Sales

2019 Sales

2018

% of Sales

2018 Sales

2017

% of Sales

2017 Sales

Sales Price

%41

65

74%

83

62%

73

64%

58

62%

62

Under $50K

%32

50

12%

13

20%

24

18%

16

10%

10

$50K - $100K

%23

36

10%

11

17%

20

16%

14

 

0

$100K - $300K

%4

7

4%

5

1%

1

2%

2

3%

3

Over $300K

 

 

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

Prepared by:

Julie San Martin

Team Manager

 

 

 

October 2021

 

St Croix Real Estate Inventory Levels

 

TOTAL INVENTORY

 

Residential

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

Highest inventory during this period was 9/15/12 with 336 homes on the market

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

88 homes for sale.

 

Condominium

GIGANTIC decrease over the eleven-year period!

Eleven years ago, there were six times as many condominiums on the market (181) as were for sale on 9/15/21 (30).

Highest inventory during this period was 9/15/12, with 210 condominiums for sale.

 

Vacant Land

37% fewer lots (212) than eleven years ago.

9/15/2020 is the lowest inventory of the eleven-year period with only

363 lots for sale.

 

 

INVENTORY BY PRICE RANGE

 

Residential

 

Under $200,000 listings (11%) are 50% lower than eleven years ago as percentage of total inventory. Compared to last year, this segment decreased by 5%.

$200,000 to $400,000 listings (25%) have remained relatively constant over the 11-year period, varying from 24% of inventory (9/15/18) to 34% of inventory (9/15/14).

$400,000 to $600 listings (11%) decreased 8% from eleven years ago. Highest was 19% (9/15/11) and lowest was 10% (9/15/14).

$600,000 to $800,000 listings (11%) are unchanged from eleven years ago.

$800,000 to $1,000,000 listings (11%) are 5% higher than eleven years ago and the highest percentage of the 11-year period.

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

 

Condominium

 

Under $100,000 listings are currently only 6% of total condo listings, down from a high of 29% (9/15/13).

$100,000 to $200,000 listings (27%) decreased by 5% of total inventory since last year. On 9/15/16, this price range represented 46% of the total condominium inventory.

$200,000 to $300,000 listings are at 33% of total inventory, about the same as last year.

$300,000 to $500,000 listings, at 28% of total inventory have increased 9% compared to eleven years ago. Lowest level was just 7% on 9/15/13.

Listings over $500,000 represent 6% of the total condominium market, a decrease of 3% compared to last year.

 

Vacant Land

 

Under $50,000 listings (18%) are 5% lower than 11 years ago (23%). The highest percentage of inventory (44%) was 9/15/17.

$50,000 to $100,000 listings (32%) have remained relatively constant over the 11-year period

$100,000 to $300,000 listings (32%) have also remained relatively constant over the eleven years. Lowest percentage was 9/15/17, at 22% of total land inventory.

Listings over $300,000  (18%) increased 5%, compared to eleven 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 2021

 

 

A Tale of Two Islands

St Croix and St Thomas Real Estate Sales

Nine Year Comparison Year to Date

 

Number of Sales

Residential

Residential sales on St Thomas increased 113% (52 homes) compared to nine years ago. On St Croix, the number of homes sold increased 85% (70 homes) compared to nine 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

 

 

 

Condominium

Condominium sales increased 190% (99 condos) on St Thomas, compared to nine years ago. On St Croix, the number of condos sold increased 102% (55 condos), compared to nine 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

 

Vacant Land

Vacant land sales on St Thomas increased 229% (48 lots), compared to nine years ago. On St Croix, land sales increased 207% (85 lots) compared to nine 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

 

126

+77%

69

Jan – Aug 2021

 

Residential

Average Sales Price

The average St Thomas residential sales price increased 35% ($231,363) compared to nine years ago. On St Croix, the average home sales price increased 107% ($307,208) when compared to nine 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

 

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

 

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

 

 

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 30% higher ($152,500) compared to nine years ago. On St Croix, the median home sales price increased 80% ($215,000) when compared to nine 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

 

Condominium

Average Sales Price

The average St Thomas condominium sales price increased 52% ($116,221) compared to nine years ago. On St Croix, average sales price increased 70% ($117,901) when compared to nine 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

 

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

 

 

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

 

 

Compared to nine years ago, the median condominium sales price increased 67% ($116,300) on St Thomas and 80% ($115,500) 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

 

Vacant Land

Average Sales Price

The average St Thomas land sales price inreased 69% ($75,165) compared to nine years ago. On St Croix, average land sales price increased 192% ($83,415) compared to nine 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

 

 

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

 

St Croix Land Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$10,000

$120,000

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

 

Median Land Sales Price

On St Thomas, the median lot sales price increased 41% ($30,500) compared to nine years ago. On St Croix, the median lot sales price increased 48% ($16,500) compared to nine 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

 

Total Market (Millions)

The St Thomas total residential market increased 187% ($57.3 million) compared to nine years ago. On St Croix, total residential market increased 283% ($66.8 million) compared to nine years ago and currently exceeds St Thomas by $2.5 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

 

The St Thomas total condominium market increased 342% ($39.7 million) compared to nine years ago. On St Croix, the total condominium market increased 240% ($22.1 million) compared to nine years ago.

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

 

 

The St Thomas total land market increased 452% ($10.4 million) compared to nine years ago. On St Croix, total land market increased 950% ($17.1 million) compared to nine years ago and currently exceeds St Thomas total market by $6.2 million.

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%

$18.9

+202%

$12.7

Jan – Aug 2021

 

 

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

Prepared by:

Julie San Martin

Team Manager

, compared to nine 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

 

Vacant Land

Vacant land sales on St Thomas increased 229% (48 lots), compared to nine years ago. On St Croix, land sales increased 207% (85 lots) compared to nine 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

 

126

+77%

69

Jan – Aug 2021

 

Residential

Average Sales Price

The average St Thomas residential sales price increased 35% ($231,363) compared to nine years ago. On St Croix, the average home sales price increased 107% ($307,208) when compared to nine 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

 

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

 

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

 

 

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 30% higher ($152,500) compared to nine years ago. On St Croix, the median home sales price increased 80% ($215,000) when compared to nine 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

 

Condominium

Average Sales Price

The average St Thomas condominium sales price increased 52% ($116,221) compared to nine years ago. On St Croix, average sales price increased 70% ($117,901) when compared to nine 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

 

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

 

 

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

 

 

Compared to nine years ago, the median condominium sales price increased 67% ($116,300) on St Thomas and 80% ($115,500) 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

 

Vacant Land

Average Sales Price

The average St Thomas land sales price inreased 69% ($75,165) compared to nine years ago. On St Croix, average land sales price increased 192% ($83,415) compared to nine 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

 

 

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

 

St Croix Land Sales Prices

 

Lowest

Highest

Jan – Aug 2013

$10,000

$120,000

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

 

Median Land Sales Price

On St Thomas, the median lot sales price increased 41% ($30,500) compared to nine years ago. On St Croix, the median lot sales price increased 48% ($16,500) compared to nine 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

 

Total Market (Millions)

The St Thomas total residential market increased 187% ($57.3 million) compared to nine years ago. On St Croix, total residential market increased 283% ($66.8 million) compared to nine years ago and currently exceeds St Thomas by $2.5 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

 

The St Thomas total condominium market increased 342% ($39.7 million) compared to nine years ago. On St Croix, the total condominium market increased 240% ($22.1 million) compared to nine years ago.

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

 

 

The St Thomas total land market increased 452% ($10.4 million) compared to nine years ago. On St Croix, total land market increased 950% ($17.1 million) compared to nine years ago and currently exceeds St Thomas total market by $6.2 million.

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%

$18.9

+202%

$12.7

Jan – Aug 2021

 

 

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

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

August 2021

 

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 2012), there was a 4.7 year supply of homes and a 4.3 year supply of condominiums on the market.

Inventory has decreased by more than 4 years for both homes and condominiums, 

There is now a 7 month (0.6 year) supply of homes and a 2 month (0.2 year) supply of condominiums in this quarter.

 

Average Sales Price

Average sales price is the highest in both categories for this 10 year period.

Compared to nine years ago, average home sales price increased 62%, from $575,667 in 2012 to $936,488 for the 12 months ending July 2021, a $360,821 increase.

Average condominium sales price increased 7%, from $382,500 in 2012 to $408,866 for the 12 months ending July 2021, a $26,366 increase.

 

East End A

Christiansted east to Coakley Bay

 

Inventory

Nine years ago (July 2012), there was a 4.2 year supply of homes and a 4.8 year supply of condominiums on the market.

Inventory decreased by about 3 years for homes, to a 1.1 year supply.

Inventory decreased by about 4 years for condominiums, to a 7 month (0.6 year) supply.

 

Average Sales Price

Average residential sale price ($612,905) is 27% higher than nine years ago ($481,712) and about $13,000 lower than the previous 12 month period, ending July 2020.

Condominium average sale price ($302,471) is 48% higher than nine years ago ($204,667)

 

 

Company

Christiansted west to east side of Judiths Fancy

 

Inventory

Nine years ago (July 2012), there was a 3.7 year supply of homes and a 5.9 year supply of condominiums on the market.

Residential inventory decreased by about 3 years, to an 11 month (0.9 year) supply of homes.

Condominium inventory sell off was dramatic, from a 5.9 year supply of units nine years ago to a current 10 month (0.8 year) supply of condominiums for sale.

 

Average Sales Price

Homes and condominiums both experienced average sales price increases, compared to nine years ago.

Average home sale price increased 137% ($262,462), from $191,269 in 2012 to $453,731 for the 12 months ending July 2021.

Average condo sale price increased 85% ($89,789), from $106,250 nine years ago to $196,039 for the 12 months ending July 2021.

 

Queen

Constitution Hill west to La Reine, includes southwest Judiths Fancy

 

Inventory

Nine years ago (July 2012), there was a 3.1 year supply of homes and an 8.3 year supply of condominiums on the market.

Home inventory decreased by more than 2 years, to an 11 month (0.9 year) supply, over the ten year period.

Condominium inventory decreased by nearly 8 years over this period, to a 6 month supply for the 12 months ending July 2021.

  

Average Sales Price

Average residential sale price increased 55% ($161,218) over the nine year period, from $291,289 in 2012 to $452,507 for the 12 months ending July 2021.

Average condo sale price increased 87% ($65,425) over the ten year period, from

$75,125 in 2012 to $140,850 from the 12 months ending July 2021.

 

Northside A & B

North shore from north Judiths Fancy west to Hamms Bluff

 

Inventory

Nine years ago (July 2012), there was a 4.6 year supply of homes and a 6.5 year supply of condominiums on the market.

Residential inventory decreased by 4 years, to a 1.3 year supply of homes.

The condominium supply decreased by 6 years, to a 6 month supply of condominiums in this quarter.

 

Average Sales Price

Average home sale price ($974,200) increased by $515,090 (112%), compared to nine years ago ($459,110).

Average condominium sale price decreased by $31,178 (9%) over the ten year period, from $345,000 for the 12 months ending July 2012 to $313,822 for the 12 months ending July 2021.

 

King

South shore from La Reine west to UVI

 

Inventory

Nine years ago (July 2012), there was a 3.8 year supply of homes;

there are no condominiums in King Quarter.

Residential inventory decreased by 3 years, compared to nine years ago, to 10 months (0.8 year) of inventory for the 12 months ending July 2021.

 

Average Sales Price

Average home sale price decreased $49,200 (24%) over the ten year period, from $207,400 for the 12 months ending July 2012 to $158,200 for the 12 months ending July 2021.

 

Prince

South shore from UVI west to Williams Delight

 

Inventory

Nine years ago (July 2012), there was a 5.8 year supply of homes and an 11.0 year supply of condominiums on the market.

Residential inventory decreased by 4.7 years, to a 1.1 year supply of homes.

Condominium inventory decreased by 10.5 years, to a 6 month supply of condominiums.

 

Average Sales Price

Homes saw a sales price increase of $51,061 (24%) when compared to nine years ago, from $208,430 for the 12 months ending July 2012 to $259,491 for the 12 months ending July 2021.

Condominiums experienced a $158,000 (38%) decrease in average sale price over the nine year period, from $415,000 for the 12 months ending July 2012 to $259,491 for the 12 months ending July 2021.

 

 

West End

South from Mahogany Road, East to Williams Delight

 

Inventory

Nine years ago (July 2012), there was a 4.6 year supply of homes and a 7.0 year supply of condominiums on the market.

Over the ten year period, residential inventory decreased by 4 years, to a 7 month (0.6 year) supply of homes for the 12 months ending July 2021.

Condominium inventory decreased by more than 5 years, to a 1.3 year supply for the 12 months ending July 2021.

 

Average Sales Price

Average home sale price increased $227,306 (138%) over the ten year period, from $164,300 for the 12 months ending July 2012 to $391,606 for the 12 months ending July 2021.

Average condominium sale price increased $93,833 (150%) over the ten year period, from $62,500 for the 12 months ending July 2012 to $156,333 for the 12 months ending July 2021.

 

Conclusion

 

Over the ten year period, average home sale prices were highest, usually more than double those of other quarters, in these quarters:

·         Northside A & B

·         East End B

·         East End A

In all quarters except King, the average home sale price increased, compared to the previous 12 month period.

Over the ten year period, the average St Croix condominium sales price increased by $69,872.

These quarters experienced a decrease in average condo sales price, compared to the previous 12 month period:

·         Northside A & B

·         Prince

·         West End

 

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

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

 

 

July 2021

 

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

 

St Croix real estate market recovers

 

The last real estate boom on St Croix was 16 years ago –

The July 2005 / June 2006 period

 

Total number of properties sold

 

·         Residential – During the past 12 months, the second highest number of homes were sold on St Croix (209) for this entire 15 period, exceeded only by the July 2018 to June 2019 number of sales (231). Currently there are 97 active home listings and 96 pending home sales.

·         Condominiums – During the past 12 months, the third highest number of condominiums were sold on St Croix (123) for this entire 15 period, exceeded only by July 2016 to June 2017 (142 condo sales) and July 2018 to June 2019 (139 condo sales). This level of sales is likely to decline; current inventory level is only 78 active and pending condominiums.

·         Land – Number of lots sold (184) during the past 12 months is the highest level of sales since the July 2007 to June 2008 period. In this category there is plenty of inventory remaining, with 359 active lot listings and 91 pending lot sales.

 

Average sales price

 

·         Residential – Average home sales price is the highest of the entire 15 year period ($574,593), exceeding the second highest average price (July 2010 to June 2011) by $50,000.

·         Condominiums – Average condominium sales price ($277,481) is also the highest of the entire 15 year period.

·         Land – Average lot sales price ($107,458) is exceeded only by average sales price during July 2006 to June 2007 ($110, 887) and July 2007 to June 2008

($154, 240).

 

Total Market

Number of properties sold x Average sales price

 

·         Residential – Huge market recovery! Exceeds the next highest total market (July 2018 to June 2019) by $46 million dollars. Why? For the first time in the entire 15 year period homes listed for more than $1,000,000 (approximately 30% of inventory) account for approximately 15% of all sales. Over the previous 14 years, homes listed for more than $1,000, 000 accounted, on average, for about 5% of all sales.

·         Condominiums – The past 12 months sales ($34.1 million) represent the highest total market of the entire 15 years period.

·         Land – The total land market ($19.8 million) is more than double the previous period; July 2019 to June 2020 with $8.5 total land sales.

 

Conclusion

 

Compared to 15 years ago, total St Croix real estate sales increased by $47 million, from $127 million

(July 2006 to June 2007) to $174 million

(July 2020 to June 2021)

 

Compared to the previous 12 month period, total

St Croix real estate sales increased by $80 million,

from $94.4 million to $174.

 

The St Croix real estate market recovers!

 

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

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

June 2021

 

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.

 

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 16% of inventory. 22% of home sales on St Croix over the past 12 months were for $200,000 or less; 16% of inventory accounted for 22% of all sales.

·         The second tier ($200,000 to $400,000) consistently comprised one third of all homes for sale on St Croix over the previous 10 year period. This segment is now about one fifth of the inventory. 26% of St Croix home sales over the past 12 months were between $200,000 and $400,000; 21% of inventory accounted for 26% of sales.

·         Homes listed for more than $400,000 account for 63% of the inventory, about 7% higher than 10 years ago. During the past 12 months, this price range accounted for 52% of all homes sold.

·         Homes listed for more than $1,000,000 increased to 26% of the inventory (51 homes). During the past 12 months, this price range accounted for 13% (25 homes) of the total 196 homes sold. A significant change in the St Croix real estate market!

 

Condominium

·         The lowest price range (under $100,000) was 14% of condominium inventory 10 years ago; in May 2021 it was only 6% of total inventory. In May 2014, this segment accounted for 30% (nearly 1/3) of all condominium inventory.

·         The second tier ($100,000 to $200,000) has consistently included between one-third and one-half the inventory until 2019. In May 2021 this segment was 23% (about Ό) of total condominium inventory.

·         Condominiums listed for more than $200,000 increased to 71% of inventory, compared to 50% of condo inventory 10 years ago. In May 2013 and 2014, only 30% of the condominium inventory was listed from more than $200,000.

 

Land

·         The lowest price range (under $50,000) decreased 4%, compared to 10 years ago, from 23% to 19% of total inventory. In May 2017, this price range accounted for 45% of the land inventory.

·         The middle tier ($50,000 to $300,000) accounted for 65% of land inventory 10 years ago. In May 2021, this segment accounted for 64%, very little change.

·         Lots listed for more than $300,000 increased 4%, compared to 10 years ago, from 13% to 17% of total listing inventory. This is the highest percentage during the decade for this segment of the land inventory.

 

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

Prepared by:

Julie San Martin

Team Manager

 

 

 

 

May 2021

 

 

Inventory Levels and Sales Projections

 

May Inventory Levels

11 Year Review

 

Residential

Residential inventory peaked in 2012 with 330 homes for sale and declined through 2020. Current inventory of 102 homes for sale is only 31% of the number of homes for sale in 2012.