Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
January - June 2023 Results
|
E S T A T E
kiawahisland.com
P U B L I C A T I O N
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843.396.1522
Island-Wide Sales Results for First Half 2023 total properties closed
total Island-wide available inventory
AT A G L A N C E
168
(end of Q2 each year)
(-32% from first half 2022)
2023
=
126
2022
=
102
2021
=
121
single-family home median price
2020
=
370
$3.18M
2 019
=
491
2 01 8
=
524
2 017
=
57 1
2 016
=
584
(+31% from first half 2022)
2 01 5
=
553
villa & cottage median price
2 014
=
561
2 013
=
576
2 01 2
=
562
total dollar volume
$380M
20 2 3
(-18% from first half 2022)
(+15% from first half 2022)
H A L F
homesite median price
F I R S T
$849K
$710K
(-7% from first half 2022)
K E Y
O B S E R V AT I O N S
•
Kiawah Island experienced another tremendous first half of the year – 168 Island properties were sold totaling $380M. While we saw total transactions return to the same level as the first half of 2020 (pre-pandemic), total sales volume was 136% higher.
•
Compared to the first half of pre-pandemic 2020, median homesite prices have increased 182% while median singlefamily home prices have increased 138%. The homesite median price increased 31% year-over-year (YOY), showing the rising value for the few available homesites remaining on the Island, as well as the unique characteristics that these properties offer. Single-family home median prices also continued to climb, increasing 15% YOY.
•
Inventory continues to slowly rise, with 2.6% of Island-wide properties being listed at the end of Q2 2023 compared to 2.0% at the end of Q2 2022. The total dollar volume of Island-wide homesite inventory is $103M, an 89% increase YOY, despite total units being the same (38 through first half 2022 vs. 39 through first half 2023).
•
Single-family homes priced between $2M-$5M made up over two-thirds of all home sales in the first half of 2023, and 8 homes for over $5M were sold. Only 12% of homes sold were priced below $2M.
HISTORICAL ISL AND-WIDE FIRST HALF CLOSING ACTIVITY $450M
$466
$466
450
$400M
$300M $250M $200M $150M $100M
VOLUME IN MILLIONS
$350M
400 $380
300 250
$163
$171 $136 $106
$124
$146
$159
$148
$125
200
$189
150
$161
100
$50M $0
350
50 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
0
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records. Excludes Bulk Sales.