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Water Island, located within St. Thomas' Charlotte Amalie harbor, is a 491.5 acre treasure. The small population of fewer than 200 full and part time residents enjoy the tranquility of a largely commercial free island while having the conveniences of developed St. Thomas only a 10 minute boat/ferry ride away.
Water Island’s real estate market is small and fairly exclusive. The real estate possibilities are very limited in quantity due to the island's small size and to a low turnover rate. (Article continues after featured listings, scroll down.)
Turtle Hill Vacation HomeThis is a two story, fully appointed house currently used as a vacation home and income generating rental. It has a 2-bedroom, 2-bath main residence and a 1-bedroom, 1-bath apartment. The property was recently renovated including; being repainted, new appliances, new doors and sliders and new hurricane shutters. It is nestled on a one acre lot on the top of a hillside overlooking Flamingo Bay. Specs: 20 years old, 60ft long by 40ft wide, made of Cement and Cinder block. Cistern: 22,000 gallons. Includes Golf Cart. Has laundry and storage area. Price: $777,700. Visit website for pictures and information.
Approximately 100 homes dot the hills and valleys of Water Island. Most lots and homes offer a view of the ocean and many also have a view of neighboring St. Thomas and Hassel Island. Presently, August 2010, there are 35 listings on the Water Island real estate market.
There are 10 houses currently listed. They range from a 2 bedroom, 4 bath house on a .9 acre lot for $399,000 to a 3 bedroom, 6 bath on 2.01 acres for $3,000,000. Visit the featured house for sale above.
Properties with only a cistern and foundation do become available from time to time. There is currently one on the market, a cistern and slab on a 1 acre lot for $350,000.
There are no condos on the Water Island. Undeveloped land is limited in availability.
Currently there are 25 land lots listed. Lots range from $195,000 for a .24 acre lot, to $400,000 for a 1.7 acre waterfront lot to $1,400,000 for 6.24 acres of waterfront property.
Foreclosures are non-existent on Water Island. Residents, for the most part, own their homes outright. Sale of any property for outstanding taxes is really unheard of on Water Island.
| Month/Year | All Listings | Land | Houses |
|---|---|---|---|
| August 2005 | 8 | 5 | 3 |
| April 2006 | 9 | 6 | 3 |
| September 2006 | 9 | 5 | 4 |
| February 2007 | 17 | 12 | 5 |
| November 2007 | 8 | 4 | 4 |
| September 2008 | 17 | 10 | 7 |
| October 2009 | 20 | 13 | 7 |
| August 2010 | 35 | 25 | 10 |
