Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
|
2021 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
Record Breaking First Quarter On Kiawah properties sold
total Island-wide dollar
177
volume in millions (end of Q1 each year)
Q 1
2 0 2 1
AT
A
G L A N C E
(+181% from Q1 2020)
2 021
= $205M
2 02 0
=
$74M
2 019
=
$52M
2 01 8
=
$67M
2 017
=
$75 M
2 016
=
$49M
2 01 5
=
$52M
2 014
=
$4 1M
median sales price villa & cottage
2 013
=
$38M
2 01 2
=
$4 1M
(+10% from Q1 2020)
2 011
=
$42M
dollar volume
$205M
(+176% from Q1 2020)
median sales price single-family home
$2.0M
(+20% from Q1 2020)
median sales price homesite
$350K
(+21% from Q1 2020)
$569K
HI STOR I C AL
O B S E R V AT I O N S :
• Following the most successful year in the history of Kiawah Island,
the Island as a whole saw the best first quarter of sales in Island history, generating $205M in sales across 177 total transactions. This represents a 181% increase in transactions and 176% increase in volume over Q1 2020; and a 250% increase in transactions and 297% increase in volume over Q1 2019.
• Inventory on Island is the lowest ever recorded, with only 2.7%
of Island properties available for sale. Villa & cottage inventory is the most remarkably low, with only 13 properties available for sale across the Island (0.8% of total villa and cottage inventory), compared to 98 available this time last year.
• As single-family home inventory decreased, sales of homesites and
villa & cottages grew exponentially in Q1 2021. Homesite sales increased by 207% YOY and villa & cottage sales increased 243% YOY.
• In a typical quarter, single-family home (SFH) sales make up the
vast majority of transactions by far. That changed in Q1 2021. We saw other property types compete for more share than normal and villa & cottages were the most active property type. SFH made up 35% of transactions, villa & cottages 41%, and homesites 24%.
I SL AN D -W I DE
Q1
CLOS I N G
AC T I V I T Y $225M
200 175
177
$200M
150
$175M
125
$150M
100
$125M
75 50 25 0
37
2008
26 2009
31
35
2010
2011
47
2012
42
46
2013
2014
42
44
2015
2016
$100M
63
63 51
$75M
50
$50M 2017
2018
2019
2020
2021
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.
$25M
Kiawah Island Property Report |
2021 First Quarter Results
FIRST QUARTER KIAWAH ISLAND SALES SNAPSHOT 2020
2021
% OF CHANGE
Properties Closed Volume
63 $74,404,600
177 $205,133,100
+181% +176%
HOMES
Properties Closed Volume Median Price Average Price
24 $48,490,500 $1,665,000 $2,020,400
61 $134,940,400 $2,000,000 $2,212,100
+154% +178% +20% +9%
VILLAS AND COTTAGES*
Properties Closed Volume Median Price Average Price
16 $8,657,900 $385,000 $541,100
55 $35,364,500 $490,000 $643,000
+244% +308% +27% +19%
HOMESITES
Properties Closed Volume Median Price Average Price
14 $11,551,200 $288,500 $825,100
43 $23,448,200 $350,000 $545,300
+207% +103% +21% -34%
TIMBERS KIAWAH OCEAN CLUB & RESIDENCE
Properties Closed Volume Median Price Average Price
9 $5,705,000 $525,000 $633,900
18 $11,380,000 $577,000 $632,200
+100% +99% +10% 0%
ALL TRANSACTIONS
*Excluding Timbers
All dollar figures have been rounded to the nearest hundred.
Q 1
2 0 2 1
I S L A N D -W I D E
I N V E N T O R Y
F A C T S
&
F I G U R E S
T TA G E S
&
CO
E
ES
IT
&
D
S L
N
A
VI L
ED HO M
50% (2,485)
S
LOP
34% (1,656)
4980 TOTAL UNITS ON KIAWAH ISLAND
1.8%
EHS O
E EV
16% (768)
E -I LF Y A MHI F AL M N- G O L YM
OMES Y H V
10% = 78
M
L IE GS
IL
0.8% = 13
10%* (13)
O
S
IN
M
1.8% =45
*Excluding Timbers
0.8%
TE
S
FA
57% (78)
136 ACTIVE LISTINGS AT END OF Q1 2021
33% (45)
JUST 2.7% OF ISLAND-WIDE PROPERTIES ARE LISTED AND AVAILABLE FOR PURCHASE
I ES
E
LE
-
S
NG
M
SI
H
10%
C
U
Kiawah Island Property Report | FOR-SALE ISLAND-WIDE INVENTORY COMPARISON Through End of Q1 2015 - 2021 2015
2016
2017
2018
2019
2020
2021
TOTAL $
$740M
$750M
$750M
$738M
$656M
$637M
$308M
HOMES
$475M
$465M
$499M
$503M
$461M
$448M
$205M
VILLAS & COTTAGES
$91M
$99M
$79M
$80M
$66M
$65M
$11M
HOMESITES
$174M
$186M
$172M
$155M
$129M
$124M
$92M
TOTAL #
551
569
543
520
469
444
136
HOMES
200
208
217
205
201
192
45
VILLAS & COTTAGES
154
161
132
128
105
98
13
HOMESITES
197
200
194
187
163
154
78
*Excludes Timbers Kiawah Sales
TOTAL UNITSTOTAL SOLD UNITS SOLD
UNDEVELOPEDUNDEVELOPED HOMESITES SOLD HOMESITES SOLD
2021
2020
2020
2021
2019
2018 2021
2021 2019
2017 2020
2020 2018
2019
2019 2017
2017
2018
2018
2021
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
2020
2019
20
2018 2021
20
2017 2020
$300
40 70 30 60 20 50 10 40 0 30
2019
40 70 30 60 20 50 10 40 0 30
2018
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
SINGLE-FAMILY GLE-FAMILY HOMES SOLD HOMES SOLD
2021
2020
50
$1.25
$2.25
Price In Millions
$600
Average Price (AP) vs. Median Average Price (AP) vs. Median PriceSold (MP) vs. Units $2.00 Sold Price 50(MP) vs. Units
$2.00
MP
2019
*Excluding Timbers
40%
1 Bedroom = 14 2 Bedroom = 22 3 Bedroom = 18 4 Bedroom = 1
9%
$2.50
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
Price In Millions
2018 2021
VILLAS & COTTAGES SOLD* = 55
3%
AP MP
2017 2020
0
AP
2019
0
$2.50
MP
60
70
AP MP
2018
$400
$200
SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES 60 $2.25 Price In Millions Price In Millions
LLAS & COTTAGES VILLAS SOLD & COTTAGES SOLD
0
$800 $1.4M $600 $1.2M $400 $1.0M $200 $800 0 $600
$200
AP
MP
$300
70
$700
Price In Thousands Price In Thousands
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
AP MP
2017
$800 AP
MP
20
AP MP
40 70 30 60 20 50 10 40 0 30
Price In Thousands Price In Thousands
Average Price (AP) vs. Median Average Price (AP) vs. Median PriceSold (MP) vs. Units $600 Sold Price 50(MP) vs. Units
10
$400
32%
$1.0M
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
$800 AP
VILLAS SOLD & COTTAGES SOLD LLAS & COTTAGES
70
20
$800 $1.4M $600 $1.2M $400 $1.0M $200 $800 0 $600
25%
$1.2M
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
VILLAS & COTTAGES VILLAS 60 & COTTAGES $700
40 70 30 60 20 50 10 40 0 30
GLE-FAMILY HOMES SOLD HOMES SOLD SINGLE-FAMILY
2020 2018 2021 2019
2021
0
2020
0
2019 2017
10
2017
2021
2020
2019
2018 2021
2017 2020
2019
2018
20
25 2018
2017
40 70 30 60 20 50 10 40 0 30
HOMESITES HOMESITES $1.2M 60
Average Price (AP) vs. Median Average Price (AP) vs. Median PriceSold (MP) vs. Units Sold Price 50(MP) vs. Units $1.0M
MP
2017
50
3% $1.4M Price In Thousands Price In Thousands
60
MP
50
> $2.5M = 19
AP MP
0
$1 - 2.5M = 36
AP
5
< $1M = 6
$1.4M
AP MP
0
70
TOTAL TOTAL SOLDUNITS SOLD 150 UNITS 125 200 100 175 75 150 50 125 25 100 0 75
30%
60%
HOMESITES HOMESITES
Price In Thousands Price In Thousands
5 0 0 5
HOMES SOLD = 61
AP
0
10%
Q1 2021 TRANSACTION TRENDS ON 70 KIAWAH ISLAND
2017
175
ISLAND-WIDE Q1 2021 SALES
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
HOMESITES SOLD UNDEVELOPEDUNDEVELOPED HOMESITES SOLD
5
TOTAL UNITS SOLD TOTAL UNITS SOLD
200 TOTAL UNITS SOLD TOTAL UNITS SOLD
0
0
2021 First Quarter Results
$1.25
HOMESITES SOLD = 43
88%
< $1M = 38 $1 - 2M = 4
> $2M = 1
Kiawah Island Property Report |
2021 First Quarter Results
KIAWAH ISLAND REAL ESTATE (KIRE) SALES DATA President Dan Whalen's Note: As many of you know, 2020 was the most successful year in the history of our company (KIRE). While those types of sales years come along only once every few decades and are certainly tough to match, that momentum completely carried over into 2021 - yielding KIRE’s best first quarter of sales in our company’s history. In addition, KIRE saw a 237% increase in the number of sales this quarter vs. the same time last year, and a 337% increase over the same time in 2019. Quite frankly, I expected sales to slow in 2021 as we did not have the inventory to meet the interest and demands of prospective buyers at the start of the year. But our agents have worked tirelessly to find their clients properties and to meet the needs of their sellers. That commitment continues and while inventory is at a record low closing the first quarter, we know enthusiasm for Kiawah will only grow stronger after the 2021 PGA Championship.
KIAWAH ISLAND REAL ESTATE'S (KIRE) HISTORY OF Q1 CLOSING ACTIVITY YEAR
PROPERTIES
DOLLAR VOLUME
2 021
11 8
$1 52 M
2 02 0
35
$ 49M
2 019
27
$29M
2 01 8
40
$ 57M
2021
2 017
44
$ 62 M
Q1 2021 CLOSED TRANSACTIONS BY SELLING AGENCY
2 016
33
$ 41 M
2 01 5
31
$45M
2 014
29
$29M
2 013
33
$ 31 M
2 01 2
35
$30M
2 011
25
$34M
2 01 0
23
$2 2 M
20 0 9
20
$ 32 M
2008
26
$44M
Q1 KIRE CLOSING PRICE VS. LISTING PRICE SINGLE-FAMILY HOMES
100%
HOMESITES
VILLAS & COTTAGES
95% 90% 85%
2011
2012
Property Type
2013
2014
2015
2016
2017
2018
2019
2020
KIRE
AE
PHX
CAR
NV
ADDL O/S
TOTAL
HOMES
46
3
5
2
0
5
61
< $1.5M
10
1
3
2
0
4
20
$1.5M-$2.5M
19
2
1
0
0
1
23
> $2.5M
17
0
1
0
0
0
18
HOMESITES
39
2
1
0
0
1
43
< $1M
34
1
1
0
0
1
37
$1M - $2M
3
0
0
0
0
0
3
> $2M
2
1
0
0
0
0
3
V&C *
33
8
8
1
1
4
55
1 Bedroom
10
1
2
0
0
1
14
11
5
3
0
1
2
22
2 Bedroom 3 Bedroom 4 Bedroom Transactions
11
2
3
1
0
1
18
1
0
0
0
0
0
1
118
13
14
3
1
10
159
*V&C (Villas & Cottages) Excludes Timbers Kiawah Sales KIRE: Kiawah Island Real Estate, AE: Akers Ellis, PHX: Pam Harrington Exclusives, CAR: Carolina One, NV: NV Realty, 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.