We are excited to share our 2019 newsletter
Check it out for information on current market conditions, properties for sale, and statistics from 2018!
REAL ESTATE MARKET UPDATE
A new year of change, hope and LOVE City! 2018 was a strong year for Real Estate and Holiday Homes as we finished #1 in sales volume in the MLS, with a significant margin over the nearest competitor. The year ended with 60 residential sales; a large increase over the 38 units that sold in the previous year. There was a healthy mix in price range, a trend we have not seen in a while, with 7 properties selling in the $2- 4 million dollar range. Holiday Homes closed the most expensive house sold in the Chocolate Hole area at $3,795,000—this was a waterfront beauty! Residential values remain strong and we look at this activity positively, helping in the continued regrowth of the island. There are over 200 listings of land on the MLS at the moment…There is something out there for everyone from waterfront, to breezy hillside sites, flat & affordable building spots for sunset or sunrise seekers, development opportunities, or a site with a cistern or foundation in place. Pricing for land has softened and it is the right time to be a Buyer! St. John continues to rebuild and gain momentum as a popular vacation gem in the Caribbean. The island was bustling over the holidays as many visitors returned. The Friends of the National Park has resumed their popular Seminar Series this season and many of the regular Love City Events are back on schedule this year! Come visit Holiday Homes at our new home on the first floor of the Market Place (across from Starfish Market).
The Westin Resort and Villas opened shortly after the New Year with 70% of the property operating. St. John Brewers opened their long awaited Tap Room in summer of 2018. They offer a full lunch and dinner menu along with tours of their active brewery. Beach Bar just reopened, sunset and cocktails await! At the Market Place, Shaibu’s is a new grab and go eatery offering a daily changing menu with vegetarian options, fresh juices and much more! Rumblines has found a new home in Coral Bay at Indigo’s (Sputnik’s long ago); offering the same great Asian Fusion menu. Soon come in 2019…a new restaurant concept at Mongoose Junction by the Extra Virgin folks. The Maho Bay Crossroads is a NEW refreshment spot across from the beach with a cool 60’s vibe. And for boaters the Lime Out will be a new floating haunt in Hansen Bay with cocktails and tacos!
2018 Market Facts
- 60 Homes sold
- 5 Condos sold
- 32 Land Parcels sold
- Highest home sale: $3,795,000
- Highest condo sale: $950,000
- Highest land sale: $2,475,000
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