What a whirlwind of a year!!! 2016 was an exciting and busy year for us. More and more buyers are starting to show interest in purchasing Real Estate on St John and 2016 proved that. We saw some amazing deals go through and last year proved to us that although things are certainly picking up, deals can be had keeping it a Buyer's Market. The number of homes sold in 2016 was up 39% to 53 total sales from the previous year! Sold Volume was way up as well up 35% to a total of over $55 Million.
Although the total number of condo sales was down in 2016 from 12 to 10, the total sold volume rose 30% with average sold price rising 56% to $569,300
Similarly, land sales in total number were down 13% in 2016 over 2015, but the total volume rose 28% and the average sales price rose 48%.
Much of the commercial transactions this year were non MLS transactions. One major transaction not on the MLS in 2016 was the sale of Wharfside Village. Many bars and restaurants, including the Beach Bar also changed hands in 2016. Overall the story from MLS data about commercial listings is that the median sales price rose over 113%. People are moving here and buying businesses, and they are paying more for them by nearly double from the previous year.
Overall, when looking at the 4 main segments of the St John Real Estate Market (Homes, Land, Condos, Commercial) combined, we saw a total increase in transactions up 6%. Total Volume was up 32% to $74.2 Million. Average Sales Price was up 25%.
We look at the market every day on St John and have been in nearly every home currently listed. See a property you are interested in and need more information? Contact us today or call 340-626-8229 to reach Jared directly on his cell to schedule a live Face Time tour.
Information is deemed to be reliable, but is not guaranteed. © 2017 MLS and FBS. Prepared by Jared Warren, Real Estate Broker on Monday, January 09, 2017