ST. THOMAS MARKET SNAPSHOT - MARCH 2025

St. Thomas Market Update March 2025

APR 3, 2025

By Ryan Harper

St. Thomas Real Estate Market Update – March 2025

The latest real estate data for St. Thomas is in, and the market is showing some interesting trends as we compare March 2025 to March 2024. Whether you’re buying or selling, here’s what you need to know about the current market conditions.

🏡 Average Sales Price

The average home price in St. Thomas is now $568,008, reflecting a 2.7% decrease from last year. This suggests a slight softening in prices, which could be beneficial for buyers looking for a bit more affordability.

📈 Units Sold

A total of 59 homes sold in March 2025, which is 15.7% higher than March 2024. This increase in sales activity indicates that demand is still strong, despite price adjustments.

📉 New Listings

There were 101 new listings in March, a 11.4% decrease compared to last year. With fewer new listings hitting the market, inventory remains somewhat limited, which could impact buyer choices in the coming months.

🏠 Active Listings & Market Supply

The number of active listings sits at 173, a 13.1% increase over last year. Meanwhile, the months of inventory (the time it would take to sell all current listings at the current sales pace) is 2.9 months, remaining fairly steady from last year’s 3.0 months. This suggests a balanced market where neither buyers nor sellers hold a major advantage.

📊 Sales-to-New Listings Ratio

The sales-to-new listings ratio is 58.4%, which is a significant 44.7% increase from last year. This indicates that a higher proportion of new listings are selling, meaning homes that hit the market are moving relatively well.

⏳ Days on Market

The median days on market has increased from 18 days in 2024 to 32 days in 2025, showing that homes are taking longer to sell. This suggests a shift in buyer behavior, possibly due to affordability concerns or increased inventory giving buyers more options.

What Does This Mean for Buyers & Sellers?

• For Buyers 🏡: With prices slightly lower and more active listings available, this could be a good time to explore the market and negotiate favorable terms. However, homes are still moving, so acting quickly on desirable properties is key.

• For Sellers 🏠: While homes are taking longer to sell, demand remains strong, as indicated by the increase in sales. Proper pricing and strong marketing strategies will be essential to attract buyers in this evolving market.

Final Thoughts

The St. Thomas market is showing signs of balance, with steady demand and slightly longer selling times. If you're thinking of buying or selling, understanding these trends can help you make informed decisions.

📩 Have questions about the market? Let’s chat! I’d be happy to help you navigate your real estate journey.