As provided by Marsha Maynes of Blue Water Realty, the US Virgin Island of of St. Thomas is witnessing concrete evidence of its real estate sector improvement. In 2014 the island experienced an increase in the dollar volume of all homes, condominiums and land over the previous year. The total number of sales accelerated from 185 in 2013 to 241 in 2014, for an very impressive increase of 30%.
Condominium sales volume increased from 85 units sold in 2013 to 100 units sold in 2014; residential home sales increased from 72 to 93; and land sales increased from 28 to 48. Combined sales volume of all homes, condos and land in St. Thomas increased from $64,077,650 in 2013 to $113,016,375. Total Sales Volume for St. Thomas increased by $48,938,725.
The medium sales price for all homes, condominiums and land was $220,000 in 2014. The average price for the 241 properties sold in 2014 was $468,947 up from $346,366 in 2013. The highest price was the sale of a home in Botany Bay for $8,855,000. St. Thomas continues its course of improvement in real estate value and price.