2016 St. Croix Real Estate Market Update

Looking Ahead—2016

It is official…we have definitely bottomed out and are now on our way back up.

St. Croix’s real estate market has started a healthy recovery with a steady upward moving graph in both total sales volume and units sold.  The stateside economy has shown a steady improvement (recent market corrections aside) and this has trickled down to our island as well.  In recent year, we have seen 401K’s recover and buyers have been more comfortable taking some money out of the stock market to invest in second homes in the Virgin Islands.

In addition, the three years of HGTV’s new hit series, Caribbean Life, has definitely added to this recent boost that we’ve been experiencing.  As HGTV’s favorite island for the series, St. Croix has been featured a total of 10 times with more new episodes coming soon!  The viewership is in excess of 2 million and continues to grow with the help of the amazing ratings generated by our Season Premiere that aired January 1, 2016!  This is the most exposure St. Croix has ever had…and all indications are that the series will continue.

What does this all mean for buyers and seller?

Well…if the phrase “location, location, location” wins the award for the most important criteria when it comes to buying real estate, then “timing is everything” should be the runner up.   “Is it the right time to buy?”  That seems to be the burning question and all indications show that there is no time like the present…or at least in the near future.  So, for buyers it means that although you may have missed the absolute “bottom” of the market, you have in no way missed your opportunity to get in before the next cycle peak.  If the trend continues as we expect, there are still years of appreciation ahead of us.

If you are considering selling your house, you will be much happier with the value of your property now as compared with the value two years ago.  And with our connection to the “Caribbean Life” series, you stand to gain more exposure than you ever could in the past.  Contact us today if you are considering selling your house.  We’re happy to provide you with an overview of the market as well as a current market analysis of your property.Graph 1
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