St. Thomas offers both bustling shopping areas and quiet neighborhoods. The island is mountainous, and many hillside homes are graced with incredible views of the ocean. The real estate market on St. Thomas includes houses, land, condos, timeshares, and commercial properties.
Presently, in February 2021, there are 59 houses listed. Prices range from 9.5 million for a 7 bedroom and 7.5 bathrooms home on 4.98 acres in Frenchman’s Bay to $125,000 for a 3 bedroom and 1 bathroom fixer upper in Crown Prince St. Thomas. Houses are generally situated on a half-acre lot. In densely developed areas, a quarter of an acre or less is typical.
Residential Sales – St. Thomas
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2000 | 28 | $65,000 | $575,000 | $230,161 |
| 2001 | 94 | $63,000 | $2,000,000 | $254,589 |
| 2002 | 105 | $27,500 | $1,010,000 | $287,186 |
| 2003 | 115 | $60,000 | $2,600,000 | $416,250 |
| 2004 | 118 | $32,500 | $2,500,000 | $507,000 |
| 2005 | 97 | $80,000 | $2,110,000 | $550,560 |
| 2006 | 100 | $74,000 | $3,300,000 | $672,926 |
| 2007 | 80 | $130,000 | $2,500,000 | $703,950 |
| 2008 | 63 | $110,000 | $2,800,000 | $600,967 |
| 2009 | 46 | $175,000 | $3,400,000 | $696,446 |
| 2010 | 66 | $65,000 | $3,950,000 | $505,981 |
| 2011 | 53 | $30,000 | $1,650,000 | $511,415 |
| 2012 | 68 | $90,000 | $2,175,000 | $533,418 |
| 2013 | 72 | $100,000 | $3,300,000 | $606,694 |
| 2014 | 95 | $34,000 | $8,855,000 | $902,209 |
Most residents finance their homes through conventional mortgages with local banks. Interest rates are slightly higher in the Virgin Islands than on the US mainland. A typical down payment is 20 to 30 percent. Banks require earthquake and windstorm insurance with mortgages; the cost is around 2-3% of the replacement value.
In general, land is available in quarter, half, three quarters, and one-acre lots. The price of a quarter-acre to half-acre lot is often less than $70,000. Half-acre to one-acre lots range from $50,000 to $200,000. Larger lots are also available. Factors to consider when looking for land include location, view, access to the property, and any site preparations that might be necessary in order to build.
There are presently 84 undeveloped lots on the market. Prices start at $38,000 for .2 acres in Agnes Fancy, to 10.9 million for 96.6 acres in Hull Bay. Looking for your own island?
Land Sales – St Thomas
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2001 | 66 | $15,000 | $650,000 | $84,814 |
| 2002 | 83 | $10,000 | $1,500,000 | $80,804 |
| 2003 | 112 | $19,000 | $3,100,000 | $117,217 |
| 2004 | 144 | $12,500 | $3,000,000 | $152,775 |
| 2005 | 124 | $12,000 | $1,350,000 | $139,590 |
| 2006 | 137 | $26,000 | $8,900,000 | $553,707 |
| 2007 | 82 | $20,000 | $2,450,000 | $298,593 |
| 2008 | 41 | $22,500 | $1,900,000 | $240,445 |
| 2009 | 41 | $35,000 | $964,000 | $150,220 |
| 2010 | 38 | $36,000 | $1,410,000 | $189,263 |
| 2011 | 48 | $40,000 | $662,000 | $118,635 |
| 2012 | 33 | $30,000 | $750,000 | $131,669 |
| 2013 | 30 | $30,000 | $250,000 | $106,883 |
| 2014 | 49 | $15,000 | $1,113,393 | $137,519 |
The costs of building a house start at around $250 per square foot, with the amount varying considerably depending on the materials used for building and finishing. Keep in mind that preparations and special structural requirements may need to be met, increasing the total cost of the construction project. A cistern for water storage and a septic tank are necessary components of a house on St. Thomas. The cistern alone will account for almost 10 percent of the total building cost. Land owners should depend on the experts when it comes to building on St. Thomas; plans must be prepared by an architect, engineer, or draftsperson licensed in the Virgin Islands.
Condos on St. Thomas are often located on or near a beach. Facilities might include tennis courts, a swimming pool(s), a restaurant/bar, marina and water-sports center on the beach among others. Studio Condos currently on the market start at $39,000. One-bedroom condos range between $179,900 and $295,000. And larger condos with three or more bedrooms run between $569,000 and 1.8 million. There are currently 78 condo properties listed.
Condominium Sales – St. Thomas
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2000 | 85 | $23,990 | $416,000 | $135,194 |
| 2001 | 104 | $10,000 | $359,000 | $101,976 |
| 2002 | 145 | $20,000 | $402,400 | $124,863 |
| 2003 | 189 | $23,000 | $420,000 | $139,159 |
| 2004 | 206 | $35,000 | $530,000 | $175,319 |
| 2005 | 200 | $45,000 | $542,500 | $232,718 |
| 2006 | 154 | $82,000 | $720,000 | $273,005 |
| 2007 | 104 | $70,000 | $1,742,500 | $315,788 |
| 2008 | 93 | $75,000 | $685,000 | $269,853 |
| 2009 | 64 | $85,000 | $650,000 | $259,466 |
| 2010 | 69 | $50,000 | $633,750 | $220,459 |
| 2011 | 68 | $45,000 | $549,000 | $210,503 |
| 2012 | 64 | $55,000 | $640,000 | $236,706 |
| 2013 | 85 | $37,500 | $550,000 | $204,061 |
| 2014 | 101 | $39,000 | $770,000 | $214,417 |
Timeshare or fractional ownership options are usually available from $6,000/a week and up. Presently, there are 51 timeshare openings available.
Guest houses, restaurants, yachts, inns, and retail stores are examples of commercial properties that have recently been or are on the market. Currently, there are 23 commercial properties listed.
Market Inventory Table – St. Thomas
| ALL LISTINGS | HOMES | LAND LOTS | CONDOS | COMMERCIAL | |
|---|---|---|---|---|---|
| Sept. 2006 | 377 | 89 | 168 | 78 | 20 |
| November 2007 | 487 | 109 | 186 | 136 | 15 |
| September 2008 | 557 | 147 | 161 | 182 | 19 |
| October 2009 | 590 | 151 | 174 | 207 | 29 |
| August 2010 | 669 | 180 | 238 | 189 | 36 |
| August 2011 | 593 | 152 | 211 | 170 | 29 |
| May 2012 | 587 | 157 | 231 | 171 | 28 |
| August 2013 | 664 | 196 | 274 | 166 | 28 |
| March 2015 | 690 | 200 | 284 | 149 | 28 |
| September 2016 | 568 | 160 | 216 | 130 | 37 |
| April 2019 | 348 | 97 | 139 | 68 | 16 |
| February 2021 | 295 | 59 | 84 | 78 | 23 |
A real estate agent can introduce you to the listed properties and help you narrow them down to those that fit what you are looking for. Contact the featured real estate agents above for more information on real estate on St. Thomas.
Note: This section is dated February 2021; prices, property estimates, and numbers reflect the market at the time this section was written. Information is believed to be accurate but is not guaranteed. Tables with historical data for home, land and condo sales were prepared by Team San Martin, RE/MAX St. Croix. Information is from MLS and deemed to be reliable, but is not guaranteed.
