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. 

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of the properties you are interested in. 

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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