St. Croix, the largest of the Virgin Islands, is home to diversification in people, culture, architecture and history. St. Croix’s landscape is equally diverse: the topography changes from flat agricultural land to rolling hills; arid areas to lush vegetation; countryside settings to dramatic sea views. Whatever your likes are, there’s bound to be an area in St. Croix that appeals to you. The diversity of the island is reflected in the real estate market. Properties of all types can be found on St. Croix including high-end houses, fixer-uppers, condominiums, commercial properties and undeveloped land.
Residential - St. Croix
Residential properties on the St. Croix real estate market at any given time typically include homes from fixer uppers to luxury estates. The number of availabilities in each category however fluctuates. The price range of houses recently on the market is $69,000 for a rebuild with cistern and driveaway on .63 acres in Frederikshaab; to 8 million for a luxury beach front 13 bedroom, 12.5 bath on a 6.54-acre lot in North Slob. The $500,000 and upwards price range for a home on St. Croix affords exquisite properties with nicely appointed interiors, spectacular views, and ideal locations. These homes made up 60% of the recently available residential properties on the St. Croix real estate market. Within this market 42 properties were luxury St. Croix homes worth $1,000,000+. As would be expected, these homes are worthy of design recognition. Properties on St. Croix in the range of $300,000 to $500,000 are also beautiful homes with views, pools, and good neighborhoods. These homes made up 22% of recently listed properties. The price range of $200,000 to $300,000 yields comfortable homes in good areas of St. Croix, convenient to everything. They made up 11% of listed properties. Homes under $199,000 on St. Croix are typically modest homes and fixer-uppers. These properties made up 7% of the available residential market.
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2000 | 50 | $23,000 | $1,225,000 | $213,780 |
| 2001 | 90 | $20,000 | $985,000 | $192,196 |
| 2002 | 130 | $25,000 | $1,650,000 | $255,386 |
| 2003 | 174 | $45,000 | $2,550,000 | $413,439 |
| 2004 | 184 | $25,000 | $2,100,000 | $368,248 |
| 2005 | 174 | $35,000 | $2,093,136 | $355,100 |
| 2006 | 188 | $10,000 | $9,050,000 | $453,728 |
| 2007 | 177 | $23,000 | $4,000,000 | $415,956 |
| 2008 | 125 | $75,000 | $3,750,000 | $492,394 |
| 2009 | 114 | $46,000 | $3,400,000 | $403,699 |
| 2010 | 105 | $55,000 | $2,450,000 | $450,680 |
| 2011 | 102 | $65,000 | $2,999,000 | $437,824 |
| 2012 | 89 | $35,000 | $4,000,000 | $393,501 |
| 2013 | 119 | $35,000 | $1,200,000 | $318,447 |
| 2014 | 132 | $17,000 | $2,500,000 | $346,781 |
| 2015 | 141 | $30,000 | $6,250,000 | $401,040 |
| 2016 | 170 | $35,000 | $2,500,000 | $351,248 |
| 2017 | 156 | $17,000 | $2,212,500 | $402,507 |
| 2018 | 207 | $35,000 | $1,600,000 | $329,272 |
Many of the residential properties on St. Croix are designed with apartments attached to the main house or detached cottages. The additional income could be a welcomed asset.
Most residents finance their homes through conventional mortgages with local banks. Interest rates are slightly higher in the Virgin Islands than on the 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 replacement value.
Condominium - St. Croix
The condominium complexes on St. Croix vary in design and location; though all typically have at least one pool and some with tennis courts and restaurants. Each of the complexes has unique amenities whether it is located on a renowned golf course, steps away from a beach, historical ruins on the premises or strategic vantage points for spectacular views.
There were 45 condominiums recently on the St. Croix real estate market ranging in price from $90,000 for a 2 bedroom, 1 bath in Whim; to $1,690,000 for a luxury 4 bedroom 4 bath condo in Coakley Bay. Most of the condo units for sale on St. Croix are priced at around $100,000 to $350,000; these types of properties made up 51% of the recent listings. Units priced at $70,000 and below are typically small one-bedroom units or studios. For pet lovers, it is good to know that some of the complexes are pet friendly.
Condominiums are often purchased as an investment to be rented as a vacation or long-term rental. Many of the complexes have on-site Property Management companies. In addition, there are independent companies specializing in Property Management as well as Realtors who offer similar services.
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2000 | 81 | $12,000 | $415,000 | $126,059 |
| 2001 | 103 | $12,000 | $470,000 | $114,358 |
| 2002 | 116 | $12,750 | $620,000 | $125,411 |
| 2003 | 140 | $19,000 | $676,000 | $144,823 |
| 2004 | 185 | $10,000 | $725,000 | $123,763 |
| 2005 | 208 | $19,500 | $695,000 | $167,003 |
| 2006 | 162 | $33,000 | $685,000 | $189,369 |
| 2007 | 88 | $29,000 | $825,000 | $252,519 |
| 2008 | 86 | $25,000 | $1,377,000 | $216,822 |
| 2009 | 44 | $30,000 | $1,377,000 | $249,415 |
| 2010 | 56 | $48,000 | $769,500 | $193,823 |
| 2011 | 56 | $30,000 | $770,000 | $219,594 |
| 2012 | 34 | $45,000 | $330,000 | $150,235 |
| 2013 | 69 | $40,000 | $545,000 | $159,449 |
| 2014 | 121 | $27,500 | $775,000 | $149,733 |
| 2015 | 108 | $16,000 | $1,150,000 | $192,443 |
| 2016 | 125 | $22,500 | $700,000 | $186,766 |
| 2017 | 107 | $33,000 | $570,000 | $166,076 |
| 2018 | 112 | $34,000 | $570,000 | $197,757 |
The availability of time share (fractional ownership) properties on St. Croix is very limited.
Land - St. Croix
One of St. Croix’s largest commodities is vast open space. Much of the land is easily built on and have views; a great combination. There is still ample room for growth without diminishing the natural beauty of the island. Recently there were 354 listings of land available on the market ranging in price from $29,000 for a .4-acre lot in Eliza’s Retreat; to 22.9 million for an 618-acre estate in Cotton Grove. A typical .5 acre lot with a view will be approximately $50,000 to $95,000. An acre of land with a view may cost $80,000 to $190,000. While most land sites are less than 1 acre in size large parcels of land of over 15 acres are also available. Recently on the market there were thirty large land sites Including a 2377 acre lot and a 744 acre lot.
| Year | Number of sales | Low | High | Average |
|---|---|---|---|---|
| 2001 | 74 | $10,000 | $2,500,000 | $95,136 |
| 2002 | 128 | $6,000 | $535,000 | $57,989 |
| 2003 | 187 | $9,000 | $1,500,000 | $91,315 |
| 2004 | 257 | $8,000 | $3,750,000 | $110,783 |
| 2005 | 331 | $9,000 | $5,897,589 | $94,291 |
| 2006 | 434 | $12,600 | $1,500,000 | $95,176 |
| 2007 | 264 | $11,000 | $2,025,000 | $115,398 |
| 2008 | 224 | $5,000 | $6,500,000 | $155,357 |
| 2009 | 128 | $10,000 | $1,075,000 | $104,209 |
| 2010 | 82 | $13,000 | $470,000 | $82,944 |
| 2011 | 79 | $10,000 | $505,000 | $69,462 |
| 2012 | 56 | $14,000 | $1,700,000 | $108,952 |
| 2013 | 68 | $10,000 | $400,000 | $51,242 |
| 2014 | 55 | $8,000 | $970,000 | $74,670 |
| 2015 | 64 | $9,000 | $375,000 | $79,035 |
| 2016 | 76 | $14,000 | $337,500 | $72,303 |
| 2017 | 92 | $12,000 | $500,000 | $73,065 |
| 2018 | 120 | $12,000 | $750,000 | $67,791 |
Building a home starts around $250 per square foot, but depends greatly on materials used for building and finishing. Keep in mind that preparations and special structural requirements may need to be met making the total cost of the construction project more. A cistern for water storage and a septic tank are necessary components of a home on St. Croix. The cistern alone will account for almost 10 percent of the total building cost. There are many local architects that can assist you with the building process.
St. Croix offers an array of commercial properties. Recently there were 70 listings including apartment buildings, retail stores, bars, and office space. A local realtor can shed knowledge on the particulars of a commercial property.
Market Inventory, St. Croix
| ALL LISTINGS | HOMES | LAND LOTS | CONDOS | COMMERCIAL | |
|---|---|---|---|---|---|
| Aug. 2005 | 773 | 164 | 494 | 60 | 54 |
| Apr. 2006 | 646 | 144 | 406 | 41 | 54 |
| February 2007 | 793 | 201 | 383 | 152 | 57 |
| September 2008 | 884 | 224 | 442 | 163 | 55 |
| October 2009 | 1144 | 282 | 563 | 236 | 63 |
| August 2010 | 1089 | 257 | 572 | 196 | 64 |
| August 2011 | 1087 | 277 | 575 | 182 | 53 |
| May 2012 | 1168 | 343 | 535 | 230 | 60 |
| August 2013 | 1078 | 307 | 502 | 202 | 67 |
| March 2015 | 971 | 316 | 449 | 144 | 59 |
| September 2016 | 964 | 271 | 546 | 101 | 47 |
| November 2017 | 773 | 195 | 446 | 75 | 37 |
| April 2019 | 705 | 126 | 496 | 46 | 37 |
| Feb 2021 | 623 | 143 | 359 | 78 | 43 |
| June 2023 | 595 | 126 | 354 | 45 | 70 |
It is recommended that a relationship be established with a realtor who will in turn be able to assist you with your specific needs. It is always best to visit St. Croix to see firsthand the areas that most appeal to you. The process of purchasing property on island is akin to stateside procedures. There are many local lenders and mortgage companies that will be able to assist in the process.
The real estate market in St. Croix offers a diverse inventory of listings at reasonable prices, contact the featured agents above for more information.
