Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
2023 First Quarter Results
|
E S T A T E
kiawahisland.com
P U B L I C A T I O N
|
843.396.1522
First Quarter Sales Results on Kiawah total properties closed
68
total Island-wide dollar volume in millions
O B S E R V AT I O N S :
total dollar volume
2023
=
$141M
2022
=
$182M
2021
= $205M
2 02 0
=
$74M
2 0 19
=
$52M
rise incrementally, and has more than doubled (58 in Q1 2022 vs. 121 in Q1 2023) from the record low of 1.1% at the end of Q1 2022.
2018
=
$66M
• Prices have increased dramatically for homesites this year. The
2 0 2 3
2017
=
$ 6 1M
(+74% from Q1 2022)
2 0 16
=
$49M
villa & cottage median price
2015
=
$52M
2 0 14
=
$4 1M
(-2% from Q1 2022)
2 0 13
=
$38M
$141M
(-23% from Q1 2022)
single-family home median price
$3.0M
AT
A
G L A N C E
(end of Q1 each year)
Q 1
• The first quarter of 2023 was the 3rd best opening quarter in
(-40% from Q1 2022)
(+13% from Q1 2022)
homesite median price
$993K
$650K
HI STOR I C AL
Kiawah Island history – 68 Island properties were sold and closed for $141M. While total transactions were down 40% year-over-year (YOY), sales volume was only down 23% due to increased average and median prices across almost all property types – most notably homesites.
• Listed Island-wide inventory remains low at 2.5% but continues to
homesite median price at the close of the first quarter was $993K, representing a 74% YOY increase, and the homesite average price was $1.3M, an increase of 79% YOY. This significant increase is due to several big view homesites having closed this year.
• Single-family homes priced over $2M represented 61% of all home sales in Q1 2023, and 5 homes for over $5M were sold. Both the average and median prices of single-family homes continue to climb, increasing 7% YOY and 13% YOY, respectively.
I SL AN D -W I DE
Q1
CLOS I N G
$200M
AC T I V I T Y
$100M $75M $50M $25M $0
VOLUME IN MILLIONS
$125M
$182.0
$140.6
$28.7
$41.7
$40.9
$37.8
$41.3
$52.2
2010
2011
2012
2013
2014
2015
$48.8
2016
$60.6
2017
$65.6
2018
$51.6
2019
$74.4
2020
2021
2022
2023
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.
Number of Transactions
$175M $150M
200
$205.1
175 150 125 100 75 50 25 0