Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
2023 Results in Review
|
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 2023 total properties closed
2 023
= $735.0M
2 02 2
=
$742.0M
2 021
=
$1.04B
2 02 0
=
$807.3M
2 019
= $300.4M
2 01 8
= $376.0M
2 017
= $3 2 1 . 1M
2 016
=
$312.2M
2 01 5
=
$362.3M
villa & cottage median price
2 014
= $31 1 . 3 M
2 013
=
$318.8M
(-8% from 2022)
2 01 2
=
$293.7M
total dollar volume
$735M
single-family home median price
$3.0M
(+11% from 2022)
2 0 2 3
AT
A
G L A N C E
340
total Island-wide dollar volume in millions
homesite median price
$795k
(+18% from 2022)
$710k
HI STOR I C AL
O B S E R V AT I O N S : • Kiawah Island saw 340 closings in 2023 for a total of $735M in sales volume. Although total transactions were down 12% year-over-year (YOY), the total dollar volume only varied 1% compared to 2022’s $742M. • Inventory has increased, with 150 properties available for sale on the Island at year-end, which is about five months of inventory compared to 118 at the end of 2022. This increase makes 3.1% of Island-wide properties available for purchase. • 56% of the 148 homes sold in 2023 were within the $2M to $5M range, while homes that sold for over $5M represent the second largest percentage at 26% of Island-wide home sales due to continued rising median and average prices. The median price for a singlefamily home jumped to just under $3M. • There were 65 homesites sold in 2023 compared to 95 in 2022, representing a 32% decrease in transactions. Median homesite prices increased 18% YOY, indicating that 2023 was a seller’s market and 2024 is expected to be the same.
I SL AN D -W I DE
CLOS I N G
$1.00B
AC T I V I T Y 900
$1.04
$700M $600M $500M $400M $300M $200M $100M
VOLUME IN MILLIONS
$800M
$807 $742
$303 $214 2010
2011
$293
2012
$318
2013
$311
2014
$362
2015
$312
2016
$321
2017
$735
$376 $300
2018
2019
2020
2021
2022
2023
ISLAND-WIDE CLOSINGS Q4 (OCTOBER 1 THROUGH DECEMBER 31) 63
45
79
74
79
68
71
87
119
84
251
172
68
76
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
$900M
800 700 600 500 400 300 200 100 0