2020 St John Real Estate Market Report - How the Pandemic affected Home Sales on St John
January 2, 2021
HAPPY NEW YEAR!!
2020 was nothing if not unpredictable. To our surprise, the Corona Virus pandemic did not suppress the Real Estate Market on St John and in fact gave it a boost. You have undoubtedly heard about the national trends of people flocking to their favorite vacation destinations buying real estate and taking up residence during these times. Nearly all real estate markets outside of cities saw a bump. Likewise, our upward trend on St John continues, telling us that this is the next great chance to get into the market. As the inventory dwindles down and demand creeps up, St John’s real estate market seems poised for some of the big growth it saw in the early part of the millennium. Here are a few quick comparisons and charts of the residential sales from 2020.
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MARKET SUMMARY STATISTICS
- The median price of sold homes jumped up over 35% from 2019 to an even $1Million. This means half of all homes sold on island in 2020 are over $1Million. The last time our median price jumped over 30% in a year was 2003 and 2005. Just before the biggest years on record.
- The average price of homes sold has been climbing steadily since the lows of 2017. 2020’s average home sale was $1.216M. The highest since 2009.
- The total volume of home sales has carried an upward trend since 2008 with 2020 coming in at the 3rd highest total sales volume record
- 51 homes sold in 2020, and there are currently 21 homes under contract with an average list price of over $1.6M
- Our inventory continues to decrease as does average days on the market for listings. There are 134 homes for sale as of 1/1/2021. One year ago today there were 162 homes for sale on St John.
Contact us today to schedule Virtual live showings
of the properties you are interested in.
Looking to come down and catch a break from winter? We have a few weeks left at our stunning properties. Take 10% select villas with the discount code SEATURTLE when booking direct on www.stjohnhomesandvillas.com