St. John is unique; it offers the opportunity to own a dream home with a magnificent ocean view on an island that is two-thirds protected from development by the National Park Service. Price tags for the 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.
There are currently (February 2021) 121 houses on the market, ranging in size from a 1-bedroom 1 bath 400 square foot cottage in Bethany for $318,900; to 14.5 million for a 9 bedroom 11.5 bathrooms 15,975 square foot mansion in Cruz Bay. 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. There are 41 houses listed below 1 million dollars. There are 86 houses listed that are over 1 million dollars.
House Sales
| 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 | 61 | $180,000 | 3.2 Million | $931,142 |
| 2004 | 43 | $341,700 | 4.5 Million | $1,242,627 |
| 2005 | 54 | $450,000 | 8.75 Million | $1,789,315 |
| 2006 | 33 | $318,000 | 4.25 Million | $1,454,373 |
| 2007 | 29 | $295,000 | 14 Million | $1,982,914 |
| 2008 | 23 | $250,000 | 4.6 Million | $1,502,872 |
| 2009 | 22 | $240,000 | 6.5 Million | $1,283,182 |
| 2010 | 20 | $495,000 | 3 Million | $1,285,075 |
| 2011 | 27 | $135,000 | 12 Million | $1,722,222 |
| 2012 | 28 | $325,000 | 8.45 Million | $1,183,607 |
| 2013 | 48 | $165,000 | 3.5 Million | $1,054,698 |
| 2014 | 40 | $145,000 | 7.75 Million | $1,049,862 |
| 2015 | 38 | $189,000 | 4 Million | $1,074,847 |
| 2016 | 53 | $115,000 | 4 Million | $3,025,000 |
| 2017 | 38 | $225,000 | 3.6 Million | $891,763 |
| 2018 | 60 | $107,500 | 3,795,000 | $1,049,483 |
| 2019 | 45 | $250,000 | 9 Million | $1,169,878 |
| 2020 | 51 | $179,000 | 5.4 Million | $1,216,419 |
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.
Presently on the market there are 233 undeveloped land sites for sale ranging in price from $64,900 for a 1/3 of an acre in Carolina; to 7.5 million for 4.5 acres near Maho Bay Beach. Looking for a private island? Recently 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 availability of land lots within the last couple of years.
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.
Land Lot Sales
| 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 | 141 | $34,500 | $2.4 Million | $200,362 |
| 2003 | 167 | $35000 | $6 Million | $370,202 |
| 2004 | 106 | $85,000 | $8 Million | $530,141 |
| 2005 | 68 | $110,000 | $3.9 Million | $560,389 |
| 2006 | 49 | $179,000 | $1.4 Million | $496,144 |
| 2007 | 24 | $92,500 | $6,574,950 | $726,519 |
| 2008 | 20 | $115,000 | $1.8 Million | $440,475 |
| 2009 | 19 | $60,000 | $3.5 Million | $380,553 |
| 2010 | 16 | $75,000 | $875,000 | $248,125 |
| 2011 | 20 | $72,000 | $843,183 | $287,865 |
| 2012 | 33 | $55,000 | $13.9 Million | $776,664 |
| 2013 | 31 | $49,500 | $2.5 Million | $396,016 |
| 2014 | 31 | $65,500 | $1.65 Million | $408,782 |
| 2015 | 44 | $63,000 | $970,000 | $208,680 |
| 2016 | 38 | $45,000 | $3 Million | $309,874 |
| 2017 | 19 | $46,250 | $1,275,000 | $203,053 |
| 2018 | 32 | $35,000 | $2,475,000 | $280,547 |
| 2019 | 36 | $30,000 | $1,081,556 | $248,815 |
| 2020 | 31 | $32,500 | $1,550,000 | $296,524 |
Building a home starts at around $400 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 drafts-person licensed in the Virgin Islands.
There are 20 condo developments on St. John, some are small with just a few units while others are large. Most are located in or close to Cruz Bay. Currently on the market there are 16 condos.
Condo Sales
| YEAR | TOTAL CONDOS SOLD | LOW | HIGH | AVERAGE |
|---|---|---|---|---|
| 2000 | 15 | $68,333 | $320,000 | $181,900 |
| 2001 | 16 | $85,000 | $335,000 | $219,852 |
| 2002 | 14 | $90,000 | $350,000 | $209,457 |
| 2003 | 7 | $225,000 | $460,000 | $350,358 |
| 2004 | 13 | $220,000 | $925,000 | $567,885 |
| 2005 | 12 | $350,000 | $990,000 | $689,750 |
| 2006 | 6 | $425,000 | $1,035,000 | $635,667 |
| 2007 | 6 | $275,000 | $1,250,000 | $613,000 |
| 2008 | 15 | $390,000 | $789,000 | $634,923 |
| 2009 | 6 | $222,500 | $1,200,000 | $605,583 |
| 2010 | 7 | $200,000 | $932,300 | $467,043 |
| 2011 | 5 | $375,000 | $550,000 | $430,000 |
| 2012 | 9 | $290,000 | $850,000 | $501,667 |
| 2013 | 8 | $343,000 | 1 Million | $613,688 |
| 2014 | 9 | $380,000 | 1.05 Million | $714,924 |
| 2015 | 12 | $172,705 | $748,250 | $363,054 |
| 2016 | 10 | $287,000 | $855,000 | $569,300 |
| 2017 | 5 | $455,000 | $900,000 | $690,500 |
| 2018 | 5 | $425,000 | $950,000 | $600,000 |
| 2019 | 10 | $475,000 | $1,000,000 | $760,750 |
| 2020 | 11 | $220,000 | $990,000 | $715,227 |
There are 119 timeshare units currently listed. The majority of which are located at Virgin Grand Estates & Villas and Westin Vacation Club, both in Chocolate Hole. Timeshares range from $1000 for a week in July in a 750 square foot 1 bedroom 2 bath unit; to $99,000 for a 3-bedroom 3.5 bath unit in Chocolate Hole.
There are presently 2 commercial opportunities available. They include quest house and boutique.
The overall inventory of St. John real estate at this time includes 509 listings.
Market Inventory Table, St. John
| DATE | ALL | HOMES | LOTS | TIMESHARE | CONDOS | COMMERCIAL |
|---|---|---|---|---|---|---|
| August 2005 | 372 | 55 | 157 | 135 | 12 | 13 |
| April 2006 | 549 | 101 | 249 | 122 | 50 | 27 |
| February 2007 | 589 | 124 | 262 | 135 | 51 | 17 |
| September 2008 | 702 | 117 | 258 | 238 | 58 | 30 |
| October 2009 | 735 | 126 | 251 | 299 | 40 | 19 |
| August 2010 | 708 | 137 | 262 | 248 | 46 | 15 |
| August 2011 | 663 | 147 | 248 | 213 | 42 | 13 |
| May 2012 | 689 | 166 | 269 | 198 | 44 | 12 |
| August 2013 | 616 | 142 | 266 | 172 | 27 | 9 |
| March 2015 | 672 | 165 | 294 | 178 | 27 | 8 |
| September 2016 | 643 | 161 | 276 | 170 | 24 | 12 |
| April 2019 | 495 | 126 | 237 | 110 | 16 | 6 |
| February 2021 | 491 | 121 | 233 | 119 | 16 | 2 |
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.
Note: This section is dated February 2021; prices, property estimates and numbers reflect the market at the time this section was written. General Information and sales data is believed to be accurate but not guaranteed.