Housing Update: Inventory down, Sales Price Up | US Virgin Islands Real Estate Blog

US Virgin Islands Real Estate Blog

Housing Update: Inventory down, Sales Price Up

If the statistics are a sign of things to come, it appears the bottom may be near!

According to sales statistics provided by the St.Thomas/St.Croix MLS our Year-to-Date inventory for the St. Thomas/St. Croix housing market is down!

Which means…

Average sales price for St. Thomas homes for sale is up 25%

and a drumroll…

Average sales price for St. Croix homes are up a staggering 48.51%.

I’m sure you read the article published by the New York Times: http://www.nytimes.com/2011/05/31/business/31housing.html

The most important piece of information is the fact that prices are still expected to fall. Average list price for St. Croix homes is down 5.94% compared to a drop of 5.26% for St. Thomas homes.

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