Local Home Values in St. John, USVI

Home values in St. John, U.S. Virgin Islands depend on various factors, including where exactly on the island the property is situated, the type of property, proximity to the beach, and the property’s overall condition. A general overview of what to expect concerning home values in different areas of the island includes the following:

1. Overall Market Trends

High Demand, Limited Inventory: St. John attracts many buyers due to its natural beauty and limited construction – much of the island falls under the Virgin Islands National Park authority. Thus, the island has limited space and high demand.

Price Range: The most recent data includes $500,000 at the lower end for smaller homes or condos and over $5 million for luxury villas and waterfront homes. Median homes usually fall into the $1.5-2 million mark, although these figures change depending on market behavior.

• Popular Areas and Home Values

Cruz Bay: The largest town on the island and the main port of entry from St. Thomas – the hub of dining, shopping, and visiting in St. John. Values near Cruz Bay are higher, generally between $800,000 and over $3 million, depending on size, views, and proximity to the center.

Chocolate Hole & Great Cruz Bay: Both areas are adjacent to Cruz Bay and are sought after because of their views and accessibility. Home value typically ranges from $1 million to $4 million.

Coral Bay: Located on the eastern side of St. John, it is quieter. Values range from $600,000 to $2.5 million.

Peter Bay: Located within the Virgin Islands National Park, Peter Bay contains some of St. John’s most expensive properties. In several of the homes, prices have been known in excess of $5 million.

East End: As one of the most secluded parts of St. John, East End has less number of homes and possesses a rougher, secluded feel, with prices varying from approximately $500,000 to $2 million.

• Condominiums

Cruz Bay Condos: Many people choose condos in Cruz Bay for more relaxed living or a revenue   property. The prices range from about four hundred million dollars to a million dollars or more, differing according to the caliber, facilities, and sight.

Coral Bay Condos: There are currently no condos in Coral Bay

• Land Values

Developable Land: St. John also offers barren land for individuals to create a custom home on the estate. The prices range from one hundred thousand for a tiny parcel in the estate to over a million for a big plot of the estate to the ocean.

National Park Proximity: The higher the value of the mound, particularly close to the Virgin Islands National Park and seaside land, the value increases.

• Additional Considerations

Tourism and Rental Income: St. John’s economy is heavily dependent on tourism, and many homes are used as vacation rentals. This can make property values more sensitive to changes in tourism trends, though the rental market often helps sustain higher property values.

• Investment Potential

Vacation Rentals: Many people on St. John rent out their homes to vacationing tourists which can be reasonably lucrative. Homes that have a history of more consistent rent tend to be valued higher.

Appreciation:  St. John has experienced consistent appreciation over time, particularly in the top-tier spots such as Cruz Bay and Peter Bay, while external economic factors will dictate the headline price over shorter periods of time, it is worth noting that given a world where supply constrictions persist and steady demand for gold stays on path; the long term trajectory appears to be up.

 

Conclusion:

If you are considering buying a home in St. John, 340 Real Estate Company is your partner to solve your queries as we are one of the best real estate company’s in St. John who know the local market and can assist you identify both your needs and budget. Note that prices can greatly vary by location, condition of the home, and market trends at time of purchase.

 

https://340realestatestjohn.com/