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I am thinking of buying a condo in St Croix as an investment. Can anyone tell me what they think the outlook for appreciation is. I am looking on the North shore. Prices seem real inexpensive and that is making me a little cautious but I have seen property values on St John and St Thomas just skyrocket in the last few years. Do things seem to be changing there and is everyone pretty optimistic that the new cruise port will help the economy?
Posted : May 22, 2004 11:07 am
Hello Don,
Here is a repost with information that might help you;
Comment by Andrew M.
I can only comment on the St Croix condo market, hope it helps....
"Condo's on St Croix have maintained a steady upward trend over the past 5 years. Average prices are now in the $120,000.00 range with an average of 10 sold each month.
(12 month average, 7/02-6/03)
Condo Statistics for 2002-2003:
Average price: $121,124.00
Condos sold: 118
Low Price: $17, 500.
High Price: $$676,000
MLS Sales price to list price ratio: 94%
Average days on market: 408
Residential Home market:
Average price: $314,177.00
Homes sold: 151
Low price: $30,000
High Price: $$2,550,000.00
MLS Sales price to list price ratio: 88%
Average days on market: 357
This information is based upon the St Croix Board of Realtors MLS records and has been verified.
Good luck with you move, there is lots of opportunity still in the islands.
Andrew
Posted : May 24, 2004 5:01 pm