Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
|
January - June 2021 Results
E S T A T E
kiawahisland.com
P U B L I C A T I O N
|
843.396.1522
Island-Wide Sales Results for First Half 2021 total Island-wide inventory
AT A G L A N C E
total properties closed
378
(end of Q2 each year)
2021
=
121
2020
=
370
2 019
=
491
2 01 8
=
524
2 017
=
57 1
2 016
=
584
median villa & cottage sales price
2 01 5
=
553
$585K
2 014
=
561
(+13% from first half 2020)
2 013
=
576
median homesite sales price
2 01 2
=
562
2 011
=
626
2 01 0
=
648
total dollar volume
$466M
(+189% from first half 2020)
median single-family home sales price
20 2 1
$1.9M
F I R S T
H A L F
(+42% from first half 2020)
$375K
(+25% from first half 2020)
K E Y
•
O B S E R V AT I O N S :
Following the most successful first quarter of sales in Kiawah Island's history, the Island recorded its best first half ever with $466M in closed sales across 378 total transactions. This represents a 189% increase in volume and a 161% increase in transactions year-over-year (YOY).
•
The second quarter of 2021 was also the strongest Q2 the Island has ever seen, with $261M in volume across 201 transactions - an increase of 200% and 145% YOY respectively.
•
Island-wide volume nearly tripled YOY due to a 340% increase in the number of homes closed over $2.5M, including the most expensive home ever sold in the Charleston area at $20.5M. Additionally, the number of homesites sold between $1M-2M increased by an unprecedented 1200%.
•
The record low inventory story from the last few quarters continues as we close out the first half of the year at a new historic low. Current Island-wide inventory across all property types is 121 which represents only 2.5% of the total number of properties on Kiawah Island. Over the last three years, we have seen inventory drop more than 76%.
HISTORICAL ISLAND-WIDE FIRST HALF CLOSING ACTIVITY 450
$500M
400
$450M 378
350
$400M
300
$350M
250
$300M
200
$250M
150 100
100
50 0
2008
76 2009
100
101
126
125
127
129
130
141
147
162
$200M
145
$150M $100M
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
$50M
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records. Excludes Bulk Sales.
Kiawah Island Property Report |
January - June 2021 Results
FIRST HALF 2021 KIAWAH ISLAND CLOSINGS SNAPSHOT 2021
2020 145
378
+161%
$161,289,000
$465,811,000
+189%
Properties Closed
ALL TRANSACTIONS
Volume Median Price
$750,000
$693,000
-8%
Average Price
$1,112,000
$1,232,000
+11%
49
148
+202%
$28,891,000
$95,073,000
+229%
$518,000
$585,000
+13%
$590,000
$642,000
+9%
Properties Closed
VILLAS AND COTTAGES
Volume Median Price Average Price
Properties Closed
HOMES
Volume Median Price Average Price
Properties Closed
HOMESITES
% OF CHANGE
Volume
68
132
+94%
$114,437,000
$313,575,000
+174%
$1,333,000
$1,898,000
+42%
$1,683,000
$2,376,000
+41%
28
98
+250%
$17,961,000
$57,163,000
+218%
$301,000
$375,000
+25%
$641,000
$583,000
-9%
Median Price Average Price
All dollar figures have been rounded to the nearest thousand. Excludes Bulk Sales.
F I R S T
H A L F
2 0 2 1
I S L A N D -W I D E
I N V E N T O R Y *
T TA G E S
& S
E
ES
IT
&
D
CO
L
N
A
VI L
ED HO M
52% (2,520)
S
LOP
33% (1,595)
4828 TOTAL UNITS ON KIAWAH ISLAND
*Excluding Timbers
1.4%
EHS O
E EV
15% (713)
E -I LF Y A MHI F AL M N- G O L YM
OMES Y H V
9.6% = 69
M
L IE GS
IL
0.9% = 15
12%* (15)
O
S
IN
M
1.4% = 37
0.9%
TE
S
FA
57% (69)
121 ACTIVE LISTINGS FIRST HALF OF 2021
31% (37)
JUST 2.5% OF ISLAND-WIDE PROPERTIES ARE LISTED AND AVAILABLE FOR PURCHASE
I ES
E
LE
-
S
NG
M
SI
H
9.6%
C
U
Kiawah Island Property Report |
January - June 2021 Results
FOR-SALE ISLAND-WIDE INVENTORY COMPARISON Through First Half 2015 - 2021* 2015
2016
2017
2018
2019
2020
2021
TOTAL $
$748M
$787M
$802M
$753M
$679M
$539M
$300M
HOMES
$464M
$494M
$551M
$520M
$489M
$368M
$168M
VILLAS & COTTAGES
$97M
$105M
$83M
$75M
$61M
$64M
$30M
HOMESITES
$187M
$188M
$168M
$157M
$129M
$107M
$102M
TOTAL #
553
584
571
524
491
370
121
HOMES
190
219
226
216
225
145
37
VILLAS & COTTAGES
161
158
145
123
107
89
15
HOMESITES
202
207
200
185
159
136
69
*Excluding Timbers
UNDEVELOPED HOMESITES SOLD UNDEVELOPED HOMESITES SOLD
2021
2020
2021 2019
2020 2018
2021
2020
2019 2017 2020 2018 2021 2019
2019 2017
2017
2018
2021
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
2020
50
2019 2017 2020 2018 2021 2019
50
100 175 75 150 50 125 25 100 0 75
2018
$300
GLE-FAMILY HOMES SOLD SINGLE-FAMILY HOMES SOLD
100 175 75 150 50 125 25 100 0 75
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units PriceSold (MP) vs. Units Sold 125 $2.00
2017
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
GLE-FAMILY HOMES SOLD HOMES SOLD SINGLE-FAMILY
2021
2018
2021
125
$2.50
$1.25
$2.25
Price In Millions
2020
17%
1 Bedroom = 13 2 Bedroom = 20 3 Bedroom = 40 4 Bedroom = 2
4% HOMESITES SOLD = 55
$2.00
MP
$600
SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES 150 $2.25
3%
16%
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50
Price In Millions MP
2019 2017 2020 2018 2021 2019
0
AP
2018
0
AP
150
MP
ILLAS & COTTAGES SOLD VILLAS & COTTAGES SOLD
$200
$2.50
AP MP
$700
175
Price In Millions Price In Millions
2017
$200
AP
175
Price In Thousands
MP
$300
Price In Thousands MP MP
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
AP
AP MP
50
Price In Thousands Price In Thousands
100 200 75 150 50 125 25 100 0 75
$800 AP
AP
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units PriceSold (MP) vs. Units Sold 125 $600
$400
VILLAS & COTTAGES SOLD = 75
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
$800
VILLAS VILLAS & COTTAGES 150 & COTTAGES $700
20
$1.0M
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
200
30 2017
2021
2020
2019
2020
2021 2019
2018
2020 2018
20
2019 2017
0
UNDEVELOPEDUNDEVELOPED HOMESITES SOLD HOMESITES SOLD
TOTAL UNITS SOLD TOTAL UNITS SOLD
2019 2017 2020 2018 2021
2018
2017 2017
30
$400
$1.2M
53% $800 $1.4M $600 $1.2M $400 $1.0M $200 $800 0 $600
MP
50
40
$800 $1.4M $600 $1.2M $400 $1.0M $200 $800 0 $600
MP
40
60 90 50 80 40 70 30 60 20 50
Price In Thousands Price In Thousands
60 90 50 80 40 70 30 60 20 50
MP
100
70
HOMESITES HOMESITES $1.2M 80
Average Price (AP) vs. Median Average Price (AP) vs. Median Price PriceSold (MP) vs. Units Sold 70(MP) vs. Units $1.0M
AP
250 400 200 350 150 300 100 250 50 200 0 150
80
27%
$1.4M AP
TOTAL SOLDUNITS SOLD TOTAL 300 UNITS
0
ILLAS & COTTAGES VILLAS SOLD & COTTAGES SOLD
> $2.5M = 25
FIRST HALF 2021 TRANSACTION 90 TRENDS 90 ON KIAWAH ISLAND 350 $1.4M
AP MP
0
< $1M = 7
HOMESITES HOMESITES
Price In Thousands Price In Thousands
0 0 0 0 0 0 0 0 0 0 0 0
10%
AP
0
55%
HOMES SOLD = 71
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
400
TOTAL UNITS SOLD TOTAL UNITS SOLD
0
35%
$1 - 2.5M = 39
TOTAL UNITSTOTAL SOLD UNITS SOLD
0
2021 SALES
$1.25
80%
< $1M = 44 $1 - 2M = 9
> $2M = 2 Excludes Bulk Sales.
Kiawah Island Property Report |
January - June 2021 Results
KIAWAH ISLAND REAL ESTATE (KIRE) SALES DATA President Dan Whalen's Note:
KIAWAH ISLAND
While the Island saw the best first half of sales in history, KIRE also saw record-breaking
REAL ESTATE'S (KIRE)
sales volume for that same period. Generating more than $342M in closed transactions solely by our firm in just six months, we continue to be blown away by the insatiable interest in Kiawah.
CLOSING ACTIVITY
Our firm’s sales volume is 257% greater than the same period last year and 30%
HISTORY OF FIRST HALF
greater than the previous record high in the last 16 years. Kiawah Island Real Estate was also responsible for the largest real estate sale in Charleston-area history in the second quarter with the sale of The Vanderhorst Estate for $20.5M. Our soaring sales
YEAR
PROPERTIES
DOLLAR VOLUME
2 021
2 49
$343M
2 02 0
79
$96M
2 019
94
$1 01 M
2 01 8
1 02
$1 29M
quarter-after-quarter only solidify our belief that desire to be a part of this exceptional community is much more enduring than a cyclical real estate trend.
You read in the report that inventory continues to see historic lows. Sales on
Kiawah will eventually slow as there are fewer and fewer properties available. With just 2.5% of Island inventory for sale, it may be a while before inventory returns to a normalized, stable level.
FIRST HALF 2021 CLOSED TRANSACTIONS BY SELLING AGENCY Property Type
KIRE
AE
PHX
CAR
NV
ADDL O/S
TOTAL
2 017
1 01
$1 2 5 M
95
13
8
2
0
13
131
2 016
100
$1 2 8 M
< $1M
7
2
1
1
0
2
13
$1M-$2.5M
51
8
5
1
0
9
74
2 01 5
92
$142 M
> $2.5M
37
3
2
0
0
2
44
HOMESITES
83
5
2
0
1
8
99
2 014
90
$1 02 M
< $1M
68
5
2
0
1
6
82
$1M - $2M
12
0
0
0
0
2
14
2 013
96
$1 0 8 M
> $2M
3
0
0
0
0
0
3
2 01 2
98
$1 04 M
2 011
75
$ 87M
2 01 0
76
$11 8 M
20 0 9
61
$ 79M
2008
78
$134 M
HOMES
VILLAS & COTTAGES*
71
17
12
1
1
9
111
1 Bedroom
20
1
3
0
0
3
27
2 Bedroom
25
8
4
0
1
4
42
3 Bedroom
23
8
5
1
0
2
39
4 Bedroom
3
0
0
0
0
0
3
Total Closed Transactions
249
35
22
3
2
30
341
*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 | k i a w a h i s l a n d . c o m | 8 4 3 . 396 . 1 5 2 2 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.