Tuesday, October 2, 2012

St. Thomas Real Estate Market Report September 2012

This report contains figures from the St. Thomas Board of Realtors Multiple Listing Service:

During the month of September in the St. Thomas real estate market, 7 homes were sold with an average price of $605,929.00. The total volume of homes sold  last month was $4,241,500.  The number of homes sold has increased by more than 200% over the same time period last year but the average price is down by more than 26 %.

There were 4 condos sold in the month of September with an average price of $158,375. The total volume of condos sold last month was $633,500. In the St. Thomas real estate market, the number of condos sold has increased by 33% in the same time frame last year but the average price  has decreased by 46% from a year ago.

The raw land sold in the St. Thomas real estate market during the month of September numbered only 2 with  an average price of $202,500.  The total volume of land sold  last month was $405,000. This represents a decrease of 60% in the number of lots sold compared to the same time frame last year but a 141% increase in the average price.

the St. Thomas real estate market is small enough to be significantly impacted by one or two large or small sales with in the month.  The St. Thomas real estate market normally see an increase in both the number of sale and prices in the high season from November to April. Now is a great time for buyers to purchase on St. Thomas and throughout the Virgin Islands.

 There are a significant number of transactions which take place and are not recorded on the MLS.

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