Q3 2020 Real Estate Report

Page 1

Kiawah Island Property Report A

K I A W A H

I S L A N D

R E A L

2020 Third Quarter Results

|

E S T A T E

kiawahisland.com

P U B L I C A T I O N

|

843.396.1522

FIRST THREE QUAR TERS AT A GL ANCE

ISLAND-WIDE SALES RESULTS THROUGH Q3 2020 total Island-wide inventory

K E Y

• The third quarter of 2020 was the strongest quarter of sales in

(end of Q3 each year)

total properties closed

404

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

Kiawah’s 44-year history. Due much in part to the 259 closings

2020

=

260

2 019

=

449

2 01 8

=

489

2 017

=

5 37

actions and an average of more than 1.5 closings per day.

single-family home volume

2 016

=

538

sales prices rising across all property types resulted in a

+135%

2 01 5

=

533

2 014

=

535

average single-family home sales price

2 013

=

549

$1.82M

2 01 2

=

578

(+26% from Q3 2019)

2 011

=

587

Kiawah’s already remarkably low inventory (370 properties at

2 01 0

=

630

at the close of Q3, the lowest on record.

total dollar volume

+116% (from Q3 2019)

(from Q3 2019)

I S L A N D -W I D E

totaling $314M of volume in the third quarter, Kiawah is also on track for its best year of sales in its history.

• There were 404 closings on Island through Q3 2020 which

represents a 73% year-over-year (YOY) increase in trans-

This increase in transactional volume combined with average historic 116% YOY increase in overall dollar volume.

• Through the first three quarters YOY sales volume has more

than doubled for single family homes and homesites while the Villa and Cottage sector saw a 79% increase in dollar volume.

• Island-wide contract activity increased again in the third

quarter jumping from 132 in Q2 to 284 in Q3. This caused

close of Q2), to drop even further to 260 available properties

C L O S I N G

A C T I V I T Y

JANUARY 1ST - SEPTEM BER 30TH 500 400

404

300 200

230

100 0

2007

156

127

2008

2009

172

157

2010

2011

187

2012

200

195

2013

2014

234

219

207

200

201

2015

2016

2017

2018

2019

2020

72

259

ISLAND-WIDE CLOSINGS Q3 (JULY 1 THROUGH SEPTEMBER 30) 75

56

51

72

56

61

75

68

90

77

62

54

Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.


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