Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
|
2024 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
volume in millions
(+6% from Q1 2023)
(end of Q1 each year)
total dollar volume
2024
=
$124.0M
2023
=
$140.6M
2022
=
$182.0M
2021
=
$205.1M
2 02 0
=
$74.4M
2 0 19
=
$51.6M
2018
=
$65.6M
2017
=
$60.6M
villa & cottage median price
2 0 16
=
$48.8M
2015
=
$52.2M
(+52% from Q1 2023)
2 0 14
=
$4 1 . 3 M
$124M
(-12% from Q1 2023)
single-family home median price
$2.8M
AT
A
G L A N C E
72
total Island-wide dollar
(-6% from Q1 2023)
2 0 2 4
homesite median price
$537K
Q 1
(-46% from Q1 2023)
$988K
HI STOR I C AL
O B S E R V AT I O N S : • Kiawah Island saw 72 closings in Q1 2024 for a total of $124M in sales volume, signifying a slight increase in the number of transactions but a decrease in total dollar volume by 12% year-over-year (YOY). • Inventory remains low at 148 available properties out of 4,895 total units on Kiawah, continuing the slow increase in the amount of inventory on the Island seen since the record low of 58 available properties at the end of Q1 2022. Inventory of available villas & cottages has nearly doubled since the end of Q1 2023 and represents 37% of current listings, followed by single-family homes (36%) and homesites (27%). • With the increased inventory of villas & cottages, we also saw a 52% YOY increase in median prices and an 87% YOY increase in volume. • Island-wide homesites that sold for less than $1M represented 90% of all homesite sales in Q1 2024, up from 50% last year. As prices tend to trend up for homes and villas & cottages, there has been a 46% YOY decrease in the median homesite prices; this is due in large part to fewer high-end homesites being available for sale.
I SL AN D -W I DE
Q1
CLOS I N G
$200M
$75M $50M $25M $0
VOLUME IN MILLIONS
$100M
$182.0
$140.6 $124.0
$41.7
$40.9
$37.8
$41.3
$52.2
2011
2012
2013
2014
2015
$48.8
2016
$60.6
2017
$65.6
2018
$51.6
2019
$74.4
2020
2021
2022
2023
2024
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
$125M
200
$205.1
$175M $150M
AC T I V I T Y
175 150 125 100 75 50 25 0