2014 was, overall, a great year for the market! Homes are flying off the market demonstrated by the 33% rise in sold volume and a 4% rise in average sales price. We are all encouraged by these numbers!
Even though the average sales price of condos dipped a bit, the increase in the number of units sold and the sold volume is just staggering! Banks have loosened credit and the second home buyers made a strong comeback in 2014!
Land made an amazing comeback in 2014! After literally years of just flat performance, the average sales price of land has jumped a whopping 46%! Despite the decrease in the units sold, the signs are clear – buyers see the value in St. Croix’s market and its future!
A clear barometer of economic growth, the commercial/industrial sector, despite a drop in average sales price, displayed positive results – buyers are investing in this sector as indicated by a 200% increase in the number of units sold and an 86% increase in sold volume. Buyers are showing real confidence and grabbing deals while they last!
Call us at 340.719.1409 or email us at info@blueskyvi.com for more market analysis and to help you make your dream come true in 2015!