Kiawah Island Property Report A
K I A W A H
I S L A N D
2020 Results in Review
R E A L
|
E S T A T E
kiawahisland.com
P U B L I C A T I O N
|
843.396.1522
YEAR-END ISLAND-WIDE SALES RESULTS FOR 2020 total Island-wide dollar volume in millions
properties sold
656
2 02 0
=
$807.3M
2 019
=
$300.4M
2 01 8
=
$376.0M
average sales price single-family home
2 017
=
$3 2 1 . 1M
2 016
=
$312.2M
(+33% from 2019)
2 01 5
=
$362.3M
average sales price homesite
2 014
=
$31 1 . 3 M
$685k
2 013
=
$318.8M
(+12% from 2019)
2 01 2
=
$293.7M
average sales price villa & cottage
2 011
=
$214.7M
2 01 0
=
$303.4M
(+8% from 2019)
2 0 09
=
$194.0M
dollar volume
$807M
(169% from 2019)
$2M
2 0 2 0
AT
A
G L A N C E
(+106% from 2019)
$603k
HI STOR I C AL
O B S E R V AT I O N S :
• Kiawah Island as a whole saw the greatest sales volume in
the history of the Island generating $807M in closings across 656 transactions in 2020. This represents a 169% increase in year-over -year (YOY) volume and a 106% YOY increase in transactions.
•
Accounting for 69% of the total sales volume, single-family home (SFH) transactions more than doubled YOY and nearly quadrupled in volume. This was the most SFH transactions ever recorded on Kiawah Island in one calendar year.
• Homesite sales also soared, with a 131% increase in
transactions and a 159% increase in volume YOY. It was the highest grossing year for homesites in 15 years. Sales of homesites priced under one million more than doubled, between $1M and $2M quadrupled, and greater than $2M nearly tripled.
• With inventory at the lowest ever recorded closing out the
year (203 properties), the Island has become a seller’s market. Because of that, we saw average sales prices increase by 27% and median prices increase by 20% YOY.
I SL AN D -W I DE
CLOS I N G
AC T I V I T Y
800
$800M
700
$700M 656
600
$600M
500
$500M
400
$400M
300
291
200 100
2007
235 184
178
2008
2009
2010
266
276
275
287
2012
2013
2014
2015
278
292
321
318
$300M $200M
203 2011
2016
2017
2018
2019
2020
ISLAND-WIDE CLOSINGS Q4 (OCTOBER 1 THROUGH DECEMBER 31) 61
28
51
63
46
79
74
80
68
71
87
119
84
251
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.
$100M
Kiawah Island Property Report |
2020 Results in Review
KIAWAH ISLAND SALES SNAPSHOT 2019
2020
% OF CHANGE
Properties Closed Volume
318 $300,435,000
656 $807,288,000
+106% +169%
HOMES
Properties Closed Volume Median Price Average Price
128 $191,369,000 $1,238,000 $1,495,000
273 $542,564,000 $1,525,000 $1,987,000
+113% +184% +23% +33%
VILLAS AND COTTAGES
Properties Closed Volume Median Price Average Price
98 $50,787,000 $450,000 $518,000
203 $120,216,000 $475,000 $592,000
+107% +137% +6% +14%
Properties Closed Volume Median Price Average Price
54 $33,089,000 $375,000 $613,000
125 $85,673,000 $385,000 $685,000
+131% +159% +3% +12%
Properties Closed Volume Median Price Average Price
38 $25,190,000 $510,000 $663,000
54 $34,860,000 $540,000 $646,000
+42% +38% +6% -3%
ALL TRANSACTIONS
HOMESITES
TIMBERS KIAWAH OCEAN CLUB & RESIDENCE
All dollar figures have been rounded to the nearest thousand. Total volume includes one bulk sale of $23.975M.
2 0 2 0
I S L A N D -W I D E
F A C T S
&
F I G U R E S
V&
C
T TA G E S
A
S
&
CO
MESITES
HO
51% (2,485)
3%
EHS O
LL
HOMES
13% = 102
33% (1,656)
4980 TOTAL UNITS ON KIAWAH ISLAND
E -I LF Y A MHI F AL M N- G O L YM
I LY
12%* (24)
16% (768)
VI
AM
1.4% = 24
M
L IE GS
-F
3% = 77
O
IN
E
*Excluding Timbers
1.4%
S
L
50% (102)
38% (77)
203 ACTIVE LISTINGS AT END OF 2020
JUST 4% OF ISLAND-WIDE UNITS ARE LISTED AND AVAILABLE FOR PURCHASE
S
S
G
TE
E
N
I ES
M
SI
H
13%
Kiawah Island Property Report | FOR-SALE ISLAND-WIDE INVENTORY COMPARISON Through Year End 2015 - 2020 2016
2017
2018
2019
2020
TOTAL $
$661M
$650M
$726M
$635M
$633M
$390M
HOMES
$406M
$419M
$478M
$440M
$447M
$278M
VILLAS & COTTAGES
$88M
$76M
$71M
$55M
$55M
$16M
HOMESITES
$167M
$140M
$131M
55%
$96M
507
479
503
447
435
203
HOMES
174
182
193
188
191
77
VILLAS & COTTAGES
145
127
112
94
86
24
HOMESITES
188
170
198
165
158
102
*Excludes Timbers Kiawah Sales
TOTAL UNITSTOTAL SOLD UNITS SOLD
HOMES SOLD = 273
UNDEVELOPED HOMESITES SOLD UNDEVELOPED HOMESITES SOLD
2020
2019
2020 2018
2019 2017
2020
2019
2018 2016 2019 2017 2020 2018
2018 2016
2016
2017
2017
2020
100
2020
100
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
2019
$475
200 350 150 300 100 250 50 200 0 150
2018 2016 2019 2017 2020 2018
200 350 150 300 100 250 50 200 0 150
2017
$525 $600 $500 $575 $475 $550 $450 $525 $425 $500
GLE-FAMILY HOMES SOLD SINGLE-FAMILY HOMES SOLD
250
SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES 300 $2.25
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units PriceSold (MP) vs. Units Sold 250 $2.00
2016
$550
GLE-FAMILY HOMES SOLD HOMES SOLD SINGLE-FAMILY
2020
2019
3 Bedroom = 120 4 Bedroom = 13
$2.50
$1.25
$2.25
Price In Millions
2018 2016 2019 2017 2020 2018
1 Bedroom = 50 2 Bedroom = 74
12%
$2.00
MP
ILLAS & COTTAGES SOLD VILLAS & COTTAGES SOLD
29%
6%
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
Price In Millions MP
2017
$300
AP
2016
$300
AP
300
MP
ILLAS & COTTAGES VILLAS SOLD & COTTAGES SOLD
$400
$2.50
AP MP
$575
350
Price In Millions Price In Millions
MP
MP
$475
AP
$525 $600 $500 $575 $475 $550 $450 $525 $425 $500
$400
AP
350
Price In Thousands Price In Thousands MP
AP MP
100
Price In Thousands Price In Thousands
200 350 150 300 100 250 50 200 0 150
$600 AP
AP
VILLAS VILLAS & COTTAGES 300 & COTTAGES $575
$500
VILLAS & COTTAGES SOLD = 257
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
$600
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units PriceSold (MP) vs. Units Sold 250 $550
0
$800
SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES
VILLAS & COTTAGES VILLAS & COTTAGES
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
350
20 2016
2020
2019
2018
2019
2020 2018
2019 2017
2017
2018 2016
0
UNDEVELOPEDUNDEVELOPED HOMESITES SOLD HOMESITES SOLD
TOTAL UNITS SOLD TOTAL UNITS SOLD
2018 2016 2019 2017 2020
2017
2016
0
2016
20
$500
$900
$700 $1.0M47% $600 $900 $500 $800 $400 $700 $300 $600
MP
100
40
$700 $1.0M $600 $900 $500 $800 $400 $700 $300 $600
MP
40
80 140 60 120 40 100 20 80 0 60
Price In Thousands Price In Thousands
0
80 140 60 120 40 100 20 80 0 60
AP
0
100
HOMESITES HOMESITES $900 120
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units PriceSold (MP) vs. Units Sold 100 $800
MP
200
120
19%
$1.0M AP
TOTAL SOLDUNITS SOLD TOTAL 600 UNITS
5%
$1.0M
AP MP
0
> $2.5M = 62
HOMESITES HOMESITES
2020 TRANSACTION TRENDS ON KIAWAH ISLAND 140 140
500 800 400 700 300 600 200 500 100 400 0 300
$1 - 2.5M = 150
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
Price In Thousands Price In Thousands
00 0 00 0 00 0 00 0 0 0 0 0
< $1M = 61
AP
00
TOTAL UNITS SOLD TOTAL UNITS SOLD
700
0
$177M
TOTAL#
00
0
$154M
22%
23%
800
0
ISLAND-WIDE 2020 SALES
2015
00
0
2020 Results in Review
$1.25
HOMESITES SOLD = 125
82%
< $1M = 102 $1 - 2M = 15
> $2M = 8
Kiawah Island Property Report |
2020 Results in Review
KIAWAH ISLAND REAL ESTATE SALES DATA President Dan Whalen's Note:
KIAWAH ISLAND
Most Successful Year In Company History
REAL ESTATE'S HISTORY OF
Kiawah Island Real Estate (KIRE) saw the most successful year in the history of the company. Of the $807M in closed Island-wide volume in 2020, KIRE was responsible for $568M – the most in our history. Of the 656 closed Island-wide transactions, KIRE was
CLOSING ACTIVITY
responsible for 406. The next closest firm closed 76 Kiawah properties for a total of $66M. We are able to achieve these results because of our disciplined investment in
YEAR
PROPERTIES
DOLLAR VOLUME
2 02 0
406
$568M
2 019
186
$19 9M
2 01 8
200
$26 0 M
2 017
21 0
$2 5 6M
2 016
214
$26 3 M
2 01 5
21 2
$ 3 07M
2 014
196
$2 4 8 M
2 013
21 5
$2 5 4 M
2 01 2
2 03
$2 4 5 M
2 011
14 8
$174 M
2 01 0
173
$2 51 M
20 0 9
137
$167M
2008
156
$26 3 M
2 0 07
2 07
$ 3 69M
bringing new buyers to Kiawah. In 2020 alone, through strategic marketing initiatives and research, we introduced nearly 3,000 potential new buyers to the Island.
Not included in the data written in this report is that as of January 1, 2021, we have
already secured buyers for an additional 58 contracts totaling more than $100M. So while 2020’s numbers are historic, 2021 buyers are still eager to find their Kiawah property.
2020 TRANSACTIONS BY SELLING AGENCY Property Type
ADDL TOTAL O/S
KIRE
AE
PHX
CAR
NV
DRR
HOMES
187
34
28
2
1
1
20
273
< $1.5M
74
27
20
1
1
0
10
133
$1.5M-$2.5M
62
4
6
1
0
0
7
80
> $2.5M
51
3
2
0
0
1
3
60
HOMESITES
98
7
5
0
3
0
12
125
< $1M
77
6
5
0
3
0
11
102
$1M - $2M
15
0
0
0
0
0
0
15
> $2M
6
1
0
0
0
0
1
8
121
35
18
1
1
2
25
203
COTTAGE & VILLAS* 1 Bedroom
28
12
4
0
0
1
5
50
2 Bedroom
40
14
6
0
1
0
13
74
3 Bedroom
46
9
8
1
0
1
7
72
4 Bedroom
7
0
0
0
0
0
0
7
406
76
51
3
5
3
57
601
Total Closed Transactions
*Excludes Timbers Kiawah Sales KIRE: Kiawah Island Real Estate, AE: Akers Ellis, PHX: Pam Harrington Exclusives, CAR: Carolina One NV: NV Realty, DRR: Daniel Ravenel, ADDL O/S: Additional Outside Sales
1 Kiawah Island Parkway • Kiawah Island, SC 29455 | kiawahIsland.com | 843.396.1522 Please email RealEstateInfo@Kiawah.com with any questions or to request clarification. Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.