The Effects of Covid 19 on the St John Real Estate Market

The View from Dove Cottage’s Pool is worth more than the price of the listing - Currently at $1,750,000

September 22, 2020 (This article, written by Jared Warren, originally appeared on www.newsofstjohn.com)

The St John real estate market continues to show its resilience as we pass into the 4th quarter of yet another economically disturbed year globally with some surprising bright points.  As has remained consistent for decades, the demand and desire for St John continues to grow.

Passionate social media groups of an ever-growing dedicated fan-base virally (sorry for the sensitive word) spread the glorious secret of St John.  Huge press outlets like the NY Times continue to write articles (mostly good) about this place, driving countless new fans towards our shores.

In addition, the collapsing stability of the “real world” on the Continent sends buyers flocking to remote locations to solidify their safe option to retreat to paradise.   This  phenomenon is being seen in vacation and rural markets throughout the country.  St John is no exception.

The flurry of showings since Covid have put more than 23 homes under contract since March.   Some of these deals failed and came back on the market, but 12 of those have closed and 11 are still under contract.  The average price of these 23 homes?  Nearly $1.75M!!

So what is selling?  Here is a Link to all of the listings that closed in 2020 on St John - SOLD IN 2020

One notable sale which tipped the scales a bit was that of the prestigious Kismet which closed for $5.4M in late August.  That stunning estate was probably under value and just goes to show that if you have your eye on something, make an offer!

Despite the activity, I would still consider it a buyer’s market with 147 homes currently for sale on St John.  Average list price is just over $2 Million, but the median list price is just $1.395 which means half of those for sale are under $1.3M! Check out our favorite listings

Here is a quick run down of the stats for the rest of the market:

Land for sale -  There are 241 lots for sale right now with a median list price of $285,000.

Condos for sale -  There are 19 condos currently on the market.  Median list price is $899,000

Commercial/Businesses for Sale – 4 commercial listings  actively on the market.

Search the MLS here! or CONTACT US for more info on the St John Real Estate Market