Real estate update

The number of homes for sale on island has dropped a bit in the past two months.  There are two properties (including one belonging to Kenny Chesney) offered at $14 million, while on the low end there’s a $209,000, one-bedroom, one-bath that “needs work.” (Pictured at left.) 

There are currently 128 houses on the Multiple Listing Service, about 10 fewer than eight weeks ago. Almost 50 homes are priced between $1 and $2 million, while 21 are between $2 and $3 million. Eight of the homes on the MLS have a “Sale Pending” notice on their listings.

The median residential property, as it was two months ago, is listed for $1.495 million.  But, the average asking sales price has slipped four percent, to $2.077 million from $2.167 million.

Price cutting is going on among some businesses for sale.  Baked in the Sun, the great sandwich shop and bakery on the second floor of the Marketplace, has cut its price to $275,000. When it went on the market last year, in April, the asking was $450,000.

And the cute children’s store in Coral Bay at Cocoloba Shopping Center, Little Fish, which went on the market last month at $48,000 is now priced at $40,000.  (The Center is for sale, too.)

Comments

[Christie O'Neil]

BJ Harris at St. John Properties is the listing agent for the $209,000 home in Grunwald. She can be reached at 340-693-8485 or any St. John Realtor can show it to you.

[Frank Barnako]

Here's a link to the cheapest house on the island ... located in Estate Grunwald, which is on the Cruz Bay side of the island.

http://www.islandiarealestate.com/Details.cfm?id=700&type=residential

Frank

[Linda]

Where is the $209,000 house that is for sale is located? Who is the real estate agency/agent?

[Rosi Perkins]

Is just 'little fish' for sale or 'big fish' too?
I thought she owned 2 shops in Cocolobo?
Wow, that is quite a drop in price for 'baked in the sun'.....