Kiawah Island Property Report

Page 1

Kiawah Island Property Report A

K I A W A H

I S L A N D

R E A L

|

2019 Third Quarter Results

E S T A T E

P U B L I C A T I O N

|

kiawahisland.com

8 0 0 . 2 7 7. 7 0 0 8

FIRST THREE QUAR TERS AT A GL ANCE

ISLAND-WIDE SALES RESULTS THROUGH Q3 2019 total properties sold

234

total Island-wide inventory

=

number of transactions

449

2 01 8

=

489

+16%

2 017

=

5 37

2 016

=

538

O B S E R V AT I O N S :

• Inventory is the lowest on Island closing out the third quarter

(end of Q3 each year)

2 019

(from Q3 2018)

K E Y

since 2008. Currently sitting at 11% (8% lower than this time last year), demand in the Island for the third quarter is the strongest it has been in more than a decade with a current sales trend pointing to increased sales for properties hovering below $2.5M.

• Kiawah saw a 16% increase in closed transactions year-over-year

and the most transactions in 12 years ending Q3.

• While closed transactions increased, overall closed dollar

average single-family home sales price

2 01 5

=

533

$1.44M

2 014

=

(-27% from Q3 2018)

535

2 013

=

549

2 01 2

=

578

homebuyers are practicing caution in the ultra-high-end

$1.22M

2 011

=

587

2 01 0

=

• For the first time since 2016, villas and cottages (V&C) made up

(-15% from Q3 2018)

630

the majority of Island-wide sales closing out Q3, jumping from

2009

=

60 1

Single-family homes made up 42% of sales and homesites 15%.

median single-family home sales price

F A C T S

volume decreased 13% as the number of homes sold above $2.5M decreased 74%, while the number of homes sold between $1M and $2.5M increased more than 50%.

• This is the first drop in overall dollar volume through the third

quarter since 2016, suggesting that while sales are strong,

market until the future economic picture becomes clearer.

37% of all transactions to 43% year-over-year (including Timbers).

&

F I G U R E S

THIS PROPERT Y REPORT REPRESENTS ALL SALES ISL AND-WIDE.

LL

E M

&

CO

T TAG E S

E - F A M I LY

HO

20% (92)

S

GL

*Excluding Timbers

A

N SI

MESITES

449 * ACTIVE LISTINGS AT END OF Q3 2019

34% (151)

VI

17

46% (206)

highest priced homesite sold in Q3

O

HO

properties sold in Cassique

EL

D

217

S

E

properties sold on Kiawah Island

EV

P

KIAWAH ISLAND AND CASSIQUE SALES

UND

$4.93M highest priced villa and cottage sold in Q3

$1.82M highest priced singlefamily home sold in Q3

$2.45M


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