Water Island Real Estate - Virgin Islands

Water Island, located within St. Thomas' Charlotte Amalie harbor, is a 491.5 acre treasure. The small population of fewer then 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.

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, October 2009, there are 20 listings on the Water Island real estate market.

There are 7 houses currently listed. They range from a 1 bedroom, 1 bath house on a 1 acre lot for $650,000 to a 3 bedroom, 6 bath on 2.01 acres for $3,000,000.

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 1.02 acre lot for $399,000.

There are no condos on the Water Island. Undeveloped land is limited in availability.

Currently there are 13 land lots listed.Lots range from $225,000 for a .25 acre lot, to $495,000 for a 1.65 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.

Note: This section is dated October 2009; prices, property estimates and numbers reflect the market at the time this section was updated. Information is believed to be accurate but is not guaranteed.

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