On March 31, 1917, the Danish West Indies were ceded to the United States by Denmark in exchange for $25 million. The original interest in the islands was primarily their strategic location — a much-needed foothold for the Navy and, later, a base to guard the Panama Canal.
One hundred years later, the United States Virgin Islands is a tourist destination or home for Americans, Danish, and many others who appreciate the tropical location. On St. Croix, the Contessa Castle is now on the market for $15 million. The times have changed!
To commemorate the 100th Anniversary of Transfer Day, the USVI is offering $300 in spending credits to anyone booking a 3-night hotel stay between now and December 31, 2017 (book by October 1). Imagine the fun you could have with an extra $300 — and we could find time to see a few houses for sale too!
As for St. Croix real estate, we have definitely seen an uptick in residential and condo sales, as the most recent Market Watch stats show (see below). As an overview, the residential market has been most active in the $400,000-$800,000 range with well-priced inventory moving in a matter of weeks. Further, condos priced right are also seeing offers quickly after going on the market. We listed a unit in Coakley Bay for $329,000 and it was under contract within 17 days. Similarly, a listing in Boetzburg was listed for $779,000, received an acceptable offer in 50 days, and closed in a total of 70 days for $725,000 cash. We’re feeling very positive about St. Croix’s real estate market conditions.
In our past newsletters, we’ve shared Featured Client stories from buyers who we’ve helped find their St. Croix home, so this time we thought we’d share a seller’s story. With a strategic home valuation and excellent photography, we were able to sell Mia Pirnat’s Magical Yoga Retreat home quickly and at full price. Would you like to discuss your home value and its potential in the current St. Croix real estate market? Give us a call at 340-778-7000 or shoot us an email!
Twice voted Best Real Estate Broker on St. Croix. Coldwell Banker President's Circle three years in a row. 