Category: Research Properties

Single Family Residential

For the month of June, 3 homes sold compared to 11 last year, a decrease of 72%. The average sales price was $325,833 versus $523,273 in 2008, a decrease of 37%. Median sale price declined to $295,000 from $345,000 a year ago, down 14%. Average days on market was 217, down from 252 last year.

Condominiums

For June, 3 sold during the month compared to 8 last year, a decrease of 62%. Average sales price increased from $165,675 to $261,500, up 58%. Median sale price also increased to $254,500 from $128,200 in 2008. Average days on market was 278, up from 192 last year.

Lots/Acreage

For June, 6 sales closed compared to 17 last year, down 64%. Average sales price was $37,000, versus $121,941 in 2008, down 69%. Median sale price was $35,000 compared to $57,500 last year. Average days on market was 274 compared to 244 last year.

Statistics are courtesy of the St. Croix MLS.

This month we review sales by price ranges on the island.

12 Single Family homes sold in May:

1 with 2 bedrooms or less – $60,000-$69,999
9 with 3 bedrooms – 1 at $90,000-$99,000; 1 at $120,000-$139,999; 1 at $160,000-$179,999; 1 at $180,000-$199,999;1 at $200,000-$249,999; 1 at $250,000-$299,999; 1 at $300,000-$399,999; and 2 over $500,000. 2 with 4 or more bedrooms – 1 at $400,000-$499,999; 1 over $500,000.

4 condos sold in May:

4 with 2 bedrooms or less – 1 at $70,000-$79,999; 2 at $140,000-$159,999; 1 at $400,000-$499,999

• Single family average price was $361,332, and for condos, $170,300.
• Single family median price was $248,500, and for condos, $77,500.
• Single family Days on Market was 2 at 61-90 days, and 10 over 120 days.
• Condo Days on Market was 1 at 91-120 days, and 4 over 120 days.

Information courtesy of St. Croix Board of Realtors.

Market Analysis of St Croix Sales Jan 1 – April 30, 2009 vs Same Period in 2008

This year so far, 26 single family homes have sold vs. 41 last year in the first 4 months, a decline of 36%. Average price this year has been $514,000 vs. last year $488,173. Days on Market this year have averaged 205 vs. 210 last year.

In the condo market, 15 sales have closed this year, vs. 38 last year, a decrease of 61%. Average price this year has been $335,693, vs $229,800 last year, an increase of 46%. Days on market this year has averaged 256 vs. 189 last year.

Sales of Lots/Acreage have been 40 this year, vs. 66 last year, a decline of 39%. The average sales price this year has been $147,347, vs. $163,208, a decrease of 10%. Average days on market is 268 so far this year, vs. 322 last year.

As of May 1, there were 267 active listings, with an average list price of $885,451 and days on market of 240.
For condos, there were 183 active listings, with an average list price of $292,191 and days on market of 220.
For lots/acres, there were 517 active listings, with an average list price of $364,608 and days on market of 263.
There also were 63 listings of commercial/industrial real estate, averaging $1,115,317 for list price, and 295 for days on market.

Single Family Residential

Sales: 4 homes sold on St Croix in March, with an average sales price of $261,750, and average days on market 234. This compares to 12 sales in March, 2008, with an average sales price of $435,416 and days on market 155.

Condominiums

Sales: 4 condos sold in March, with an average sales price of $131,225, and average days on market 250. This compares to 13 sales in March, 2008, with an average sales price of $236,346 and DOM 200.

Lots/Acreage

Sales: 10 lots sold in March, with an average sales price of $141,050 and average days on market 275. This compares to 14 sales in March, 2008, with an average sales price of $283,985 and DOM 343.

Active Listings

Currently there are 1,031 active listings on St. Croix, which includes both new and existing construction, and all types of properties. Days on market for all price ranges are well over 150 ( approximately 5 months) – the highest is 298 for the price range $250,000-$299,999 and the lowest is 171 for the price range $160,000-$179,999.

Year to Date

Year to date, 91 single family homes have been listed, and 18 sold, with an average sales price of $578,556. 199 condos have been listed and 8 sold, with an average sales price of $383,283. 173 new lots have been listed this year, and 23 sold, with an average sales price of $114,457.

Statistics are courtesy of the St. Croix MLS.

Single Family Residential

Since the first of the year, there have been 328 single family residential homes on the market on St. Croix, 22 under contract, and 11 sales during the first two months of the year. Average sales price was $713,364, and average % of list price 87%.

Compared to the first two months of last year, active listings are up 15%, # of sales down 47%, and average sales price up 35% (with 11 homes sold, this is a small sampling of island prices).

Condominiums

Since the first of the year, there have been 246 condos on the market on St. Croix, 9 under contract, and 8 sales during the first two months. Average sales price was $509,312, and average % of list price 91%.

Compared to the first two months of last year, active listings are up 18%, # of sales down 33%, and average sales price up 162% (with only 8 homes sold, this is a small sampling of island prices).

Lots/Acreage

Since the first of the year, there have been 622 land parcels on the market on St. Croix, 20 under contract, and 11 sales during the first two months. Average sales price was $104,455, and average % of list price 90%.

Compared to the first two months of last year, active listings are up 19%, # of sales down 68%, and average sales price down 34%.

Statistics are courtesy of the St. Croix MLS.

Single Family Residential

As of the first of February, there were 270 single family residential homes on the market on St. Croix; 9 were under contract, and 4 sold during the month. The Average Sales Price was $451,500, average days on market 248, and average % of list price 92.9%.

Condominiums

As of the first of February, there were 205 condos on the market on St. Croix; 4 were under contract, and 3 sold during the month. Average sales price was $571,500, average days on market 335, and average % of list price 89.1%.

Lots/Acreage

As of the first of February, there were 507 land parcels on the market on St. Croix; 8 were under contract, and 4 sold during the month. Average sales price was $50,500, average days on market 260, and average % of list price 88.4%.

Statistics are courtesy of the St. Croix MLS.
Kim Lucas, Realtor
Coldwell Banker Land-de Wilde Realty
kim@coldwellbankervi.com
340-626-3758
www.kimlucasvi.com
www.retireinthevi.com

Below is 2007 versus 2008 sales data for the St. Croix, USVI real estate market. Data provided courtesy of REALTOR® Kim Lucas of Coldwell Banker VI.

Residential:

Single Family Residential Sales decreased 34% in 2008 from 2007. The number of sales went from 178 in 2007 to 117 this last year. However, average sale price increased 21%, from $419,810 in 2007 to $511,532 in 2008. Sales prices closed at 91% of list price in both years.

Condos:

Number of condo sales reflected the single family market but the downturn was not as dramatic. Sales decreased 4%, from 89 in 2007 to 85 in 2008. Sales prices also decreased, from $254,457 in 2007 to $217,196 in 2008, or 14%. Properties sold for 91% of list price in 2008, only slightly down from 2007.

Lots/Acres:

Number of land sales also decreased in 2008, by 19%, from 262 in 2007 to 212 in 2008. Prices increased substantially, 38%, from $116,012 in 2007 to $161,250 in 2008. Percent of list price for sales was down slightly from 2007.