May 16, 2024 | Reports
Monthly sales data, inventory, and days on market for the St. Croix, USVI real estate market is available in our downloadable Coldwell Banker real estate reports. The is a report for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We can help you narrow down neighborhoods based on your priorities. We can also advise you on the market trends in your desired neighborhoods.
Open reports by clicking on links below:
Homes & Condos – April 2024 Report
Homes – April 2024 Report
Condo – April 2024 Report
Land – April 2024 Report
Note: The average sales price and the average days on market could be skewed greatly by only one sale or because of the small number of sales
Apr 30, 2024 | QA
Question: “Outside of the listing, where else can I look for helpful information?”
Chris’s Answer:
Before buying, consider yourself in the “information gathering” phase. Yes, it’s more fun to dream of the structure you will build, but, take some time to also think of the practicality of building.
- For in-depth descriptions of the different codes, their uses, and their restrictions, go to: https://law.justia.com/codes/virgin-islands/2019/title-29/chapter-3/subchapter-i/229/. As you are reading a listing, the most common zones you will see are:
- R-2 – residential, low density (1 – 2 family dwellings), set backs 15’ on the front, 10’ rear and side
- R-1 – residential, low density – 15’ set backs on all sides
- The Department of Planning and Natural Resources is the USVI Government department where you will get your permits for building. Their web site will answer so many questions, perhaps even ones you don’t currently know. It will be worth your time to browse through it. You can also give them a call for clarification: https://dpnr.vi.gov/
- The Department of Licensing and Consumer Affairs is a place you can search for licensed professionals. Here is their home page. At the top of the Home Page, click on License Search: https://dlca.vi.gov/aboutdlca/
Contact us with any questions about real estate on St. Croix!
First published on our April 2024 Newsletter
Apr 30, 2024 | QA
Question: “What should I take into consideration when searching for land?”
Christie’s Answer:
Here are some important considerations:
- Location on island – For a small island, there’s diversity in the microclimates of the estates. As you travel from east to west, we have grasses and scrub bushes to a rainforest. Drive around and experience the different areas to decide what you like and what you would like to be close to – diving, hiking, restaurants, shops, etc.
- Zoning – Will the property’s zoning allow you to use the land as you’d like?
- Cost – Will you be paying with cash or getting a loan? If you are getting a loan, becoming pre-qualified will give you the peace of mind that you will be comfortable your monthly payments. It also makes a stronger offer to the Seller.
- Terrain – Land will either be flat, gentle slope, moderate slope, or steep slope. What will best suit your design and needs?
- Road conditions – Most roads are paved, but many are dirt or gravel roads. How will this effect the building process and how will it effect your daily life after you have moved in?
- Proximity to other structures – Some people like the coziness of having neighbors. Others like more space around them.
- HOA – Is there an HOA fee, and what is its use?
- Covenants and restrictions – Sometimes estates or quarters will have restrictions on the use of the land
Contact us with any questions about real estate on St. Croix!
First published on our April 2024 Newsletter
Apr 18, 2024 | Island News
A massive bleaching event in the Caribbean in 2005 resulted in the loss of more than half of what was then the coral population in V.I. waters. In the Virgin Islands, researchers are still assessing the damage from the 2023 summer bleaching event according to the St. Croix Source (read full article here). USVI researchers also said the water temperature in the territory is currently 1.3 degrees Celsius higher than normal for this time of year.
Recently, the International Coral Reef Initiative and the U.S. National Oceanic and Atmospheric Administration (NOAA) announced that prolonged, exceptionally warm temperatures have caused the fourth ever global coral bleaching event. This is the fourth global event on record and the second in the last 10 years.
According to reports, mass bleaching of coral reefs has been confirmed in the Atlantic, Pacific and Indian oceans, basins including parts of Florida and the U.S. Coastline, the Caribbean, Central America, South America, Australia, the South Pacific, the Persian Gulf, coasts of East Africa, as well as Indonesia since early 2023. Experts say as the world’s oceans continue to warm, coral bleaching is becoming more frequent and severe. When these events are sufficiently severe or prolonged, they can cause coral mortality, according to the press release from NOAA. Read the full article here.
Apr 17, 2024 | Island News
According to a recent VI Consortium article, Governor Bryan attended this year’s Seatrade Global conference in April where he showcased the Virgin Islands’ pivotal role in global cruise tourism, emphasizing the territory’s impressive 5 percent share of the market. The governor also met with executives, stakeholders, and government officials from across the world discussing trends and partnerships in the cruise industry. Given that tourism generates 70% of the Virgin Islands’ economy, the governor stated that “these initiatives and investments are really proving to be worthwhile.” The conference may even be responsible for some legislative changes the governor says are in the pipeline. These aim to further enhance the cruise and tourism offerings, especially potential growth on St. Croix. Governor Bryan also expressed optimism that the exchanges of ideas during the event will lead to “exciting prospects” for the territory through new public-private partnerships.
