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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.


Kiawah Island Property Report |

2020 Third Quarter Results

FIRST THREE QUARTERS OF 2020 KIAWAH ISLAND SALES SNAPSHOT 2020

% OF CHANGE

Properties Closed Volume

234 $220,117,000

404 $474,859,000

+73% +116%

HOMES

Properties Closed Volume Median Price Average Price

98 $141,102,000 $1,223,000 $1,440,000

183 $332,249,000 $1,450,000 $1,816,000

+87% +135% +19% +26%

VILLAS & COTTAGES

Properties Closed Volume Median Price Average Price

74 $39,325,000 $460,000 $531,000

119 $70,275,000 $465,000 $591,000

+61% +79% +1% +11%

Properties Closed Volume Median Price Average Price

35 $23,649,000 $378,000 $676,000

TOTAL UNITS SOLD +103% 71 +116% $51,049,000 400 $355,000 -6% +6% $719,000 350

Properties Closed Volume Median Price Average Price

27 $16,040,000 $510,000 $594,000

31 300 $21,286,000 250 $540,000 $687,000 200

ALL TRANSACTIONS

HOMESITES

TIMBERS KIAWAH OCEAN CLUB & RESIDENCES

TOTAL UNITS SOLD

2019

150

+15% +33% +6% +16%

Char t does not include bulk sales. All dollar figures have been rounded to the nearest thousand.

100

2020

2019

2018

2016

THROUGH Q3 2020 TRANSACTION 0 TRENDS ON KIAWAH ISLAND*

2017

50

Homesites, Villas & Cottages, and Single-Family Homes (SFH)

50

$400

25

$300

0

2020

$500

$575 $550 $525 $500 $475

$400

$450

$300

$425

2020

$500

$600

2019

75

$700

2018

$600

$800

2017

100

VILLAS & COTTAGES SOLD*

$700

2019

2017

2020 2016

125

2018

UNDEVELOPED HOMESITES SOLD 2019

0

2018

2020

2019

2018

2017

10 2017

TOTAL UNITS SOLD 2020 2016

0

2019

0

2018

2017

10

$800

$900

MP

50

20

150

MP

20

MP

100

30

$900

$600

$1.0M Price In Thousands

30

40

175

AP

40

50

$1.0M

Price In Thousands

150

Average Price (AP) vs. Median Price (MP) vs. Units Sold

AP

200

50

60

Price In Thousands

250

60

AP

300

70

2016

70

UNDEVELOPED HOMESITES SOLD

400 350

VILLAS & COTTAGES

HOMESITES

Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold

2016

HOMESITES

OTAL UNITS SOLD TOTAL UNITS SOLD

*Includes Timbers Ocean Club and Residence Sales


Kiawah Island Property Report |

2020 Third Quarter Results

NOTABLE TRANSACTIONS

Q3 2020 SALES

SOLD BY:

SOLD BY:

Kiawah Island Real Estate

Kiawah Island Real Estate

THIS HOMESITE SOLD AFTER 5 DAYS ON MARKET

THIS HOME SOLD SAME DAY PLACED ON MARKET

PRICE: $2.465M

PRICE: $3.2M

(100% of list price)

(100% of list price)

165 Surfsong Road

4 Shell Creek Landing

20%

HOMES SOLD = 115

60%

< $1M = 27

HOMESITES

$1 - 2.5M = 61

view: Golf

30 bedrooms: 4

bathrooms: 4.1 $600

bedrooms: 5

bathrooms: 5.1

$300

and increased by 330% in Q3 2020

vs. Q3 2019, including a 278% increase

in homesites priced under $1M.

SFH sales made up 45% of the trans-

actions and 70% of the dollar volume

YTD. That is due to the 2700% Q3 YOY

increase of the sale of homes priced

above $2.5M. In addition, the sale of

$2.0M

homes between $1-$2.5M grew 408%.

$1.8M

• Villa and Cottage volume increased

2020

2019

2018

2017

0

$1.6M $1.4M $1.2M

2016

25

MP

50

SINGLE-FAMILY HOMES SOLD

75

$2.2M

Price In Millions

100

$2.4M AP

125

TAKE AWAYS Homesite sales have doubled YTD

SINGLE-FAMILY HOMES

175

VILLAS & COTTAGES SOLD* = 101 28%

Average Price (AP) vs. Median Price (MP) vs. Units Sold

200

44%

$500

2020

2018

2017

0

square feet: 5,009

$400 2016

10

22%

$800 view: Marsh

MP

20

6%

$900

square feet: 4,095$700

2019

40

$1.0M Price In Thousands

50

> $2.5M = 27

AP

60

UNDEVELOPED HOMESITES SOLD

Average Price (AP) vs. Median Price (MP) vs. Units Sold

70

20%

$1.0M

nearly 80% through the first three

quarters, causing inventory to drop

to less than 50 properties available.

One and two-bedrooms sales more

than tripled in Q3 YOY, and three-

bedroom sales soared, making up

nearly 44% of all Q3 Villa and

Cottage sales.

1 Bedroom = 22 2 Bedroom = 28 3 Bedroom = 45 4 Bedroom = 6

7% 14% HOMESITES SOLD = 43

79%

< $1M = 34 $1 - 2M = 6

> $2M = 3 *Includes Timbers Ocean Club and Residence Sales


Kiawah Island Property Report |

2020 Third Quarter Results

PRESIDENT'S NOTE As expected, the surge of Island-wide contract activity reported

haven, but a place with breathtaking beaches, winding trails, and

in Q2, turned into closings in Q3, giving us the strongest quarter

countless opportunities to make life-lasting memories; all being

on record.

as communal or as secluded as you wish.

In the month of August alone, Kiawah Island Real Estate reported

As you see in the report, inventory is at an all-time low, so we

the best month in the history of our company, closing 59

do anticipate contract activity to decrease slightly in the fourth

properties for $99.4M (the previous all-time high was in August

quarter; not because interest is decreasing, but because

2005 when we closed $72.3M). August's numbers represent a

people are more committed than ever to their Kiawah property

500% increase in transactions, and a 1,190% increase in volume

for all it affords. We expect sales numbers to stabilize as we

over August 2019 when we closed 10 properties for $7.7M. We

close out the year, but still look forward to what the final

followed that up with the second-best month in the history of

quarter will bring.

our company in September with 69 closings for $93.6M. Additionally, we put 88 properties under contract in July compared to 12 properties in July 2019.

Regards,

In short, we are seeing unprecedented activity on the Island. On Kiawah, we believe the pandemic has caused families to reevaluate how they spend their time, whom they spend it with,

Dan M. Whalen, President

and where they spend it. Kiawah Island offers not only a safe

Kiawah Island Real Estate

For-Sale Kiawah Inventory Comparison Third Quarter 2015 - 2020 2015

2016

2017

2018

2019

2020

TOTAL $

$703M

$713M

$753M

$700M

$648M

$438M

HOMES

$416M

$459M

$507M

$491M

$471M

$322M

VILLAS & COTTAGES

$97M

$89M

$79M

$61M

$57M

$37M

HOMESITES

$190M

$165M

$167M

$148M

$120M

$79M

Excluding Timbers

TOTAL#

533

538

537

489

449

260

20% (49)

HOMES

174

208

209

205

206

107

VILLAS & COTTAGES

158

141

130

105

92

49

HOMESITES

201

40% (107)

260 ACTIVE LISTINGS AT END OF Q3 2020

40% (104)

SINGLE-FAMILY HOMES UNDEVELOPED HOMESITES

189

198

179

151

104

VILLAS & COTTAGES

Char t includes figures as of September 30th each year. Rounded to the nearest million.

1 Kiawah Island Parkway â&#x20AC;˘ 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.

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