The market continues to gain strength! The residential sector is witnessing shrinking inventory and with new buyers entering the market, units are moving and fast! The total number sold compared to the same period last year is up a whopping 37% and average sales price has increased by 5%.We continue to be encouraged and optimistic given these positive trends.
To everyone’s surprise and delight, land is making a comeback! We predicted this result earlier this year and the hard stats are in – average sales price of land is up a staggering 50%! Clearly buyers are bullish about this market segment.
And while the commercial/industrial sector shows mixed results, we remain encouraged by the 140% increase in number of units sold and 73% increase in sold volume. While the average sales prices fell by 27%, we know we can expect to see upward trends in the commercial market as buyers seize opportunities to launch businesses. Overall, St. Croix is on the comeback!!