ST.JOHN REAL ESTATE MARKET UPDATE

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January 10, 2023 | Abigail Schnell O’Connell 

With sales topping over $328 million, 2022 proved to be another strong year for market growth in St. John. Total Sales in 2022 more than doubled that of 2020 ($160M), despite falling short of the unprecedented numbers of 2021.

Holiday Homes leads the market share of total listings, with our agency listings totaling $86M at the end of 2022. Sophisticated marketing and proven sold results make Holiday Homes agents and brokers experts in the successful listing and selling of St. John real estate.

This past fall we started to see a much needed increase in inventory at various price points. As Buyers wait for the right St. John property to come on the market, these new listings go quickly, especially in the under $1.5M range. Only by working with an experienced Holiday Homes agent can one truly feel a pulse on the unique St. John real estate mar

ket, and stay up to date on properties that fit your individual needs.

Land sales are continuing to increase year over year, which has led to an uptick in construction on island. However, we still find it likely to be more cost effective to buy an existing home, and remodel or update it to your liking, than to start the building process from scratch.

Heading into 2023, we expect a shifting market later into the year with a strong first half. Historically, St. John takes time to catch up to market trends elsewhere, and does not experience a lot of fluctuation in property values. We continue to see Buyers looking towards St. John as a safe place to invest while other investments are fluctuating.

For more information on the St. John Market contact info@holidayhomesvi.com 

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