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Kiawah Island Property Report
Island-Wide Sales Results for First Half 2023
total Island-wide available inventory
Key Observations
(-32%
(-7%
• 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.
First Half 2023 Kiawah Island Closings Snapshot
All dollar figures have been rounded to the nearest thousand. Excludes Bulk Sales.
*Excluding Timbers
FOR-SALE ISLAND-WIDE INVENTORY COMPARISON Through First Half 2017 - 2023*
*Excluding Timbers. All dollar figures have been rounded to the nearest million.
Kiawah Island Real Estate Sales Data
President Dan Whalen's Note:
Although the real estate market has shifted to a more normalized sales pace, I am impressed by the resiliency of the market and believe the upper end is still very strong. The Island continues to be a highly sought after place to call home, with median prices of homesites and single-family homes having greatly increased since this time last year.
Kiawah Island Real Estate (KIRE) handled $314M in closed transactions, representing 74% of all transactions Island-wide and 83% of the total dollar volume. Our Q2 was extremely strong, accounting for 65% of total sales for the first half of the year and totaling $203M. As we continue to see low inventory available on the Island, we are seeing an increased interest in our built-for-sale opportunities, including Front Nine Lane and The Burn.
As the leader in real estate sales on the Island, we take pride in creating valuable relationships and helping people find their dream home. If you are interested in learning more about life on Kiawah Island, please don’t hesitate to give us a call.
