2018 St. John real estate sales are off to a great start! At the turn of the first quarter, real estate sales have done very well, considering the storm damage we suffered and that St. John is in full recovery and rebuild mode. In the first quarter of 2017, 11 homes on our MLS sold, with 9 of the 11 selling for under $1M. So far in 2018 we have sold 11 homes with just five under $1M and three over $1.5M.
Zero condos sold in the first quarter of 2017 and one sold in the same period this year.
Five land parcels sold in the first quarter of 2017 with 3 of them under $100,000. So far in 2018, we have sold 4 land parcels with 2 under $100,000 and 2 over $200,000.
We currently have 12 homes pending with 3 of those listed between $1M and $2M and 1 listed for over $3M.
We sold 19 land parcels in all of 2017 and have sold 4 so far in 2018 and have 9 more under contract.
Inventory on our MLS is down with just 106 homes listed for sale compared with 160, the norm, in 2017. Financing for storm-damaged homes is still not an option, but we are confident the local lenders will develop a product that meets the current market’s needs sooner than later.
Six months after the storms, St John is doing very well as it continues to recover. Our beautiful beaches are open and ready for visitors. Trunk Bay’s normal entrance fee is being waived for the time being, so it is FREE to visit one of the most amazing beaches in the world.
Our grocery stores are open and staying fully stocked. All stores are accepting debit and credit card payments.
With more and more visitors, the restaurant scene on island has been very active. The most recent restaurant re-openings include Aqua Bistro and Miss Lucy’s in Coral Bay.
We are experiencing intermittent struggles with TV and internet services, but we have faith things will be resolved quickly.
Lots of community events are happening just as they normally would. Just a few weeks ago, the St. John Cancer Fund held its annual Light Up the Night fundraiser. Mongoose Junction has started its First Friday event again where retailers have specials happening on the first Friday of each month. Bajo el Sol art gallery has a new exhibition starting April 6, St. John School of the Arts Broadway fundraiser is happening April 14 and the Friends of the Park’s annual Power Swim is scheduled for May 27. Interested in finding more on island events? Visit St. John Tradewinds’ calendar.
Though Caneel and the Westin are closed, many rental homes and condos are getting lots of bookings. If you are at the beach or dining in Cruz Bay, it would be hard not to notice the number of visitors on island.
Come and visit and witness and/or be a part of St. John’s recovery! It is a great time to explore opportunities in the real estate market as well.
I would love to discuss more with you. Contact me today!