![]() Real Estate News and Advice |
| February 10, 2012 |
|
Need Product Help?
Local Guides
All Local Guides
Alabama Alaska Arizona Arkansas California Colorado Connecticut DC Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming |
U.S. Virgin Islands Realtors Report Booming Sales
by Blanche Evans
The U.S. Virgin Islands are experiencing a real estate boom, report local Realtors, due largely to still-reasonable prices. St. John
St. Thomas
"St. Thomas has experienced a wonderful real estate boom in the last two years," Marin explains. "Prices on homes have increased to an average sales price of over $400,000 and land sales averages are over $90,000. The condo market still has a few great buys but these prices are escalating rapidly as well! Our properties, in our opinion, are still priced reasonably. Where else can you experience an average temperature of 82 degrees year-round with warm water temperatures as well? Watersports, sailing, shopping and travel to other islands is convenient from our location in the Caribbean!" St. Croix
About the market, Land-de Wilde says, "As we move into the spring months we are beginning to see a slowing of the tourist season, however the home market is still very strong. There is quite a bit of construction happening in both Christiansted and Frederiksted as well as on the east end of the island. Several large tracts of land have been sold and are in the beginning stages of development. This year is looking like it will be a very good one in the real estate market. According to the St. Croix MLS, residential homes listed below $499,900 that closed January through March 2004 sold for an average of $189,295. There were 22 homes closed in this period. Residential homes listed above $500,000 sold for an average of $1,144,167 with six having closed this period. The average sales price for a residential condominium was $127,033 with 39 having closed. The price of residential lots ranged from $8,000 to $300,000. There were 57 lots total to close, 24 lots priced under $40,000 and 33 priced over $40,000. Building prices on St. Croix continue to rise, with costs from about $150 per square foot and going way up from there. There were two commercial properties sold from January through March with an average price of $646,250." Click here to view current Market Conditions in your location. Published: May 24, 2004 Use of this article without permission is a violation of federal copyright laws. Related Articles: |
Real Estate News Network
Today's Real Estate Outlook
Mortgage Rates
30 Year Fixed: 3.87% 15 Year Fixed: 3.16% 1 Year Adj: 2.78% (U.S. Weekly Averages) Today's Headlines 05/24/2004
Spotlight
|
||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
|
for Agents
Readers' Choice
Our most popular recent articles
|
||||||||||||||||||||||||||||||||||||||