Sponsor
Sponsor
St. John is unique, it offers the opportunity to own a dream home with magnificent ocean view on an island that is two-thirds protected from development by the National Park Service. Price tags fitting of a dream home nestled on a beautiful, protected Caribbean island are of course attached! The allure of St. John is in the lush green hills and beautiful white sand beaches. The island offers a slow pace of living and is home to a small community of about 4,200 people. (Article continues after featured listings, scroll down.)
The Retreat Guest HouseThe Retreat is located above pristine Haulover Bay on St. John's unspoiled east end. Its three pavilions, inspired by a Frank Gehry design, are all on one level and every room enjoys an ocean view. Two equal, air-conditioned king bedroom/bath suites with additional sleeping lofts and outdoor showers flank the main living/dining pavilion. The property extends down to the waterfront and includes a beach trail to a private, sandy beach. In addition to being a perfect vacation getaway, this property is a unique investment opportunity with over three years of successful rental history. For more information call or email us.
Town & Country Real EstateOur professional staff is happy to provide information on all properties offered for sale on St. John, USVI, including waterfront villas and mountain retreats. We can offer you luxury homes, cottages and vacation villas on beautiful St. John, as well as home sites, condos, and commercial properties. Visit our website to view properties and learn more.
Holiday Homes of St. JohnSt.John USVI Real Estate Sales Experts! Holiday Homes of St.John is the Island's oldest real estate firm. As the top Island Realtors, our advertising, office locations and staff afford us the best opportunity to list and sell the premier properties of St.John. Location, reputation and experience keep us in the forefront of the market. Real Estate sales is what we do and we do it best! Visit our website for wide ranging, current information about St. John and Daily MLS updates on all St. John property listings.
The real estate market on St. John has been very strong in recent years. For example in 2005, 54 houses were sold for a total of $96,623,300 compared to 44 houses in 1999 at $19,707,000.
| Year | Total Houses Sold | Low | High | Average |
|---|---|---|---|---|
| 2000 | 41 | $120,000 | 3.8 Million | $633,768 |
| 2001 | 46 | $130,000 | 1.8 Million | $594,294 |
| 2002 | 57 | $75,000 | 5 Million | $837,129 |
| 2003 | 60 | $140,000 | 3.2 Million | $914,497 |
| 2004 | 42 | $341,700 | 4.5 Million | $1,242,627 |
| 2005 | 54 | $400,000 | 8.75 Million | $1,789,315 |
| 2006 | 33 | $318,000 | 4.28 Million | $1,454,373 |
| 2007 | 29 | $295,000 | 14 Million | $1,982,914 |
| YTD 2008 | 14 | $300,000 | 4.6 Million | $1,758,643 |
There are currently (September 2008) 117 houses on the market, ranging in size from a 1 bedroom on a .259 acre lot close to Cruz Bay for $209,000; to a 6 bed/5 bath on almost 5 acres in Hurricane Hole for $12,000,000. Most houses are designed with open styled floor plans, high ceilings and large decks to take advantage of the trade winds and the wonderful views. The average price of all 117 houses on the market is approximately $2,007,991. The greatest concentration of houses is between 700,000 and 1.2 million dollars. There are 38 houses listed below 1 million dollars.
Most residents finance their homes through conventional mortgages with local banks. Interest rates are slightly higher in the Virgin Islands than on the mainland. A typical down payment is 20 to 30 percent. Banks require earthquake and windstorm insurance with mortgages; the cost is around 2-3% of replacement value.
Property taxes are levied at 1.25% / $1000.00 of 60% assessed value of the property or $0.75 per $100.00 assessed value.
Presently on the market there are 258 undeveloped land sites for sale ranging in price from $80,000 for 10,119 sq. feet; to $32,000,000 for 13.8 acres in Maho Bay. Looking for a private island? Thatch Cay, 237 acres, was on the market at $24,000,000. Properties within the National Park but not park owned are traditionally the most expensive. Land development and subdivision, like in Rendevous & Ditleff, have increased the availabilities of land lots within the last year.
Factors to consider when looking for land include; location, view, access to the property and any site preparations that might be necessary in order to build. The average lot size is half an acre.
| Year | Total Land Lots Sold | Low | High | Average |
|---|---|---|---|---|
| 2000 | 80 | $23,250 | 2.5 Million | $195,644 |
| 2001 | 96 | $25,000 | 1.1 Million | $168,093 |
| 2002 | 129 | $34,000 | 2.4 Million | $211,793 |
| 2003 | 167 | $32,000 | 6 Million | $370,202 |
| 2004 | 106 | $55,000 | 8 Million | $530,141 |
| 2005 | 68 | $110,000 | 3.9 Million | $560,389 |
| 2006 | 48 | $110,000 | 2.3 Million | $497,105 |
| 2007 | 24 | $92,500 | $6,574,950 | $726,519 |
| YTD 2008 | 13 | $135,000 | 1.1 Million | $413,847 |
Building a home starts at around $300 per square foot and is affected largely by materials used for building and finishing. Keep in mind that preparations and special structural requirements may need to be met making the total cost of the construction project more. A cistern for water storage and a septic tank are necessary components of a home on St. John. The cistern alone will account for almost 10 percent of the total building cost. Land owners should depend on the experts when it comes to building on St. John; plans must be prepared by an architect, engineer or draftsperson licensed in the Virgin Islands.
There are 14 condo developments on St. John and 3 more recently being constructed. Some are permanent residences and others are operated as time-share or fractional ownership. Most are located in or close to Cruz Bay. Currently on the market there are 58 condos ranging in price from $240,000 for a 1 bed/1 bath in Bethany to $2,300,000 for a 3,200 square foot 4 bed/3.5 bath (in construction) in Cruz Bay.
| Year | Total Condos Sold | Low | High | Average |
|---|---|---|---|---|
| 2000 | 15 | $68,333 | $320,000 | $181,900 |
| 2001 | 16 | $85,000 | $335,000 | $219,852 |
| 2002 | 13 | $90,000 | $350,000 | $203,193 |
| 2003 | 7 | $225,000 | $460,000 | $350,358 |
| 2004 | 13 | $220,000 | $925,000 | $567,885 |
| 2005 | 13 | $350,000 | $990,000 | $688,616 |
| 2006 | 6 | $325,000 | $1,035,000 | $635,667 |
| 2007 | 6 | $275,000 | $1,250,000 | $613,000 |
| YTD 2008 | 11 | $390,000 | $765,000 | $615,000 |
There are 238 time share units currently listed. The majority of which are located at Virgin Grand Estates & Villas and Westin Vacation Club, both in Chocolate Hole. Time shares range in price from $6,000 for a week in October for a 2 bedroom/2.5 bath to $1,650,000 for an entire year in a 2 bed/3 bath at Westin Vacation Club. A large number of time shares are priced between $20,000 and $50,000.
There are presently 30 commercial opportunities available. They include a restaurant at $100,000 and a commercial/residential building at $3,100,000.
The overall inventory of St. John real estate at this time includes 702 listings.
| Date | All | Homes | Lots | Timeshare | Condos | Commercial |
|---|---|---|---|---|---|---|
| May 2004 | 261 | -- | 116 | -- | -- | -- |
| November 2004 | 298 | 45 | 143 | 93 | 8 | 9 |
| February 2005 | 369 | 69 | 159 | 118 | 10 | 11 |
| May 2005 | 392 | 64 | 164 | 127 | 11 | 16 |
| August 2005 | 372 | 55 | 157 | 135 | 12 | 13 |
| April 2006 | 549 | 101 | 249 | 122 | 50 | 27 |
| September 2006 | 557 | 109 | 267 | 118 | 40 | 23 |
| February 2007 | 589 | 124 | 262 | 135 | 51 | 17 |
| November 2007 | 664 | 117 | 269 | 213 | 53 | 12 |
| September 2008 | 702 | 117 | 258 | 238 | 58 | 30 |
The National Park protects about two thirds of the St. John leaving limited amounts of property for development, this factor adds to both the desire of owning property and the high prices. Contact the featured real estate agents listed above for more information on property on St. John.
