Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
January - September 2021 Results
|
E S T A T E
P U B L I C A T I O N
kiawahisland.com
|
843.396.1522
ISLAND-WIDE SALES RESULTS THROUGH Q3 2021 FIR ST THREE QUAR TER S AT A GL ANCE
total properties closed
561
total Island-wide inventory* (end of Q3 each year)
K E Y
O B S E R V AT I O N S :
• Kiawah Island saw the most successful first three quarters in
Island history with 561 closed transactions for $741M to close
total dollar volume
2021
=
+56%
84
2020
=
260
transactions and a 56% increase in volume YOY, despite
2 019
449
sales in the Island’s 44-year history at the time.
single-family home median price
=
2 01 8
=
489
$1.9M
2 017
=
5 37
In addition, the Island saw a 133% increase in homesites sold
2 016
=
538
than $1M.
villa & cottage median price
2 01 5
=
533
$585K
2 014
=
535
homes (SFH) and 16 villas or cottages on the market. Because
2 013
=
549
role in overall sales, representing more than 25% of all
homesite median price
2 01 2
=
578
$395K
2 011
=
587
(from Q3 2020)
(+33% from Q3 2020)
(+11% from Q3 2020)
(+11% from Q3 2020)
*Excluding Timbers
out the third quarter of 2021. This is a 39% increase in Q3 2020 having been the strongest individual quarter of
• The significant growth in volume can be attributed to 73
single-family home sales YTD over $2.5M, a 97% increase YOY. over $1M, and a 108% increase in homesites sold less
• Inventory is the lowest in the Island’s history, with just 1.7% of
Island properties available for sale, and only 29 single-family
of that, we have seen homesites play a much more significant Island-wide sales and more than doubling YOY.
• Due to historically low inventory, we have seen median
prices jump across all property types: +33% for single-family homes; +11% for villas and cottages; +11% for homesites.
HISTORICAL ISL AND-WI DE CLOSING ACTIVIT Y JANUARY 1ST - SEPTEM BER 30TH
600
561
$600M
500 400
$500M
404
300
$400M
200 100 0
$700M
156
127
2008
2009
172
157
2010
2011
187
200
195
219
207
200
201
234
$300M $200M
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Data accumulated from property waivers submitted to Kiawah Partners & supplemented by other reliable sources including Charleston County property tax records.
$100M
Kiawah Island Property Report |
January - September 2021 Results
THROUGH Q3 2021 KIAWAH ISLAND CLOSINGS SNAPSHOT 2021
% OF CHANGE
404
561
+39%
$474,859,000
$741,030,000
+56%
2020 Properties Closed
ALL TRANSACTIONS
Volume Median Price
$850,000
$735,000
-14%
Average Price
$1.175,000
$1,321,000
+12%
150
218
+45%
$91,561,000
$144,470,000
+58%
$525,000
$585,000
+11%
$610,000
$663,000
+9%
Properties Closed
VILLAS AND COTTAGES
Volume Median Price Average Price
Properties Closed
HOMES
Volume Median Price
183
200
+9%
$332,249,000
$503,753,000
+52%
$1,450,000
$1,925,000
+33%
$1,816,000
$2,519,000
+39%
Average Price
Properties Closed
HOMESITES
Volume
71
143
+101%
$51,049,000
$92,807,000
+82%
$355,000
$395,000
+11%
$719,000
$649,000
-10%
Median Price Average Price
All dollar figures have been rounded to the nearest thousand. Excludes Bulk Sales.
FIRST THREE QUARTERS 2021 ISLAND-WIDE INVENTORY*
AS
&
COT
TA G E S
T TA G E S
& S A
U
N
CO
ES ES
IT
I
LL
PED HOM
52% (2,520)
*Excluding Timbers
1.1%
EHS O
V
LL
ELO
33% (1,595)
4828 TOTAL UNITS ON KIAWAH ISLAND
VI
HOMES
V DE
15% (713)
E -I LF Y A MHI F AL M N- G O L YM
LY
5.4% = 39
19%* (16)
M
L IE GS
MI
1% = 16
O
IN
FA
1.1% = 29
1%
S
E-
46% (39)
35% (29)
84 ACTIVE LISTINGS END OF Q3 2021
JUST 1.7% OF ISLAND-WIDE PROPERTIES ARE LISTED AND AVAILABLE FOR PURCHASE
S
S
L
TE
E
NG
I ES
M
SI
H
5.4%
Kiawah Island Property Report |
January - September 2021 Results
FOR-SALE ISLAND-WIDE INVENTORY COMPARISON Third Quarter 2015 - 2021*
Q3 2021 SALES
2015
2016
2017
2018
2019
2020
2021
TOTAL $
$703M
$713M
$753M
$700M
$648M
$438M
$202M
HOMES
$416M
$459M
$507M
$491M
$471M
$322M
$107M
VILLAS & COTTAGES
$97M
$89M
$79M
$61M
$57M
$37M
$44M
HOMESITES
$190M
$165M
$167M
$148M
$120M
$79M
$51M
TOTAL #
533
538
537
489
449
260
84
HOMES
174
208
209
205
206
107
29
VILLAS & COTTAGES
158
141
130
105
92
49
16
HOMESITES
201
189
198
179
151
104
39
3%
54%
HOMES SOLD = 68
43%
< $1M = 2 $1 - 2.5M = 37
> $2.5M = 29
*Excluding Timbers. Chart includes figures as of September 30th each year. Rounded to the nearest million.
HOMESITES HOMESITES
TOTAL UNITSTOTAL SOLD UNITS SOLD
UNDEVELOPED HOMESITES SOLD UNDEVELOPED HOMESITES SOLD
2021
2020
2019 2017 2020 2018 2021 2019
2021
2020
2021 2019
2020 2018
2018
2019 2017
2018
2017 2017
3 Bedroom = 30 4 Bedroom = 4
75
2021
2020
2019 2017 2020 2018 2021 2019
75
125 25 100
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00 $1.75 0 $1.50 $1.25
9%
HOMESITES SOLD = 45
$2.00
MP
$300
125 200 100 175 75 150 50
2018
125 200 100 175 75 150 50 125 25 100
LE-FAMILY HOMES SOLD SINGLE-FAMILY HOMES SOLD
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
GLE-FAMILY HOMES SOLD HOMES SOLD SINGLE-FAMILY
2021
2020
2019 2017 2020 2018 2021 2019
2018
150
$2.25
Price In Millions
$600
SINGLE-FAMILY HOMES 175 $2.25 SINGLE-FAMILY HOMES
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold 150 $2.00 Price (MP) vs. Units Sold
$1.75 $2.50 $1.50 $2.25 $1.25 $2.00 $1.00
MPPrice In Millions
LLAS & COTTAGES SOLD VILLAS & COTTAGES SOLD
1 Bedroom = 16 2 Bedroom = 19
$2.50
AP
2017
28%
4%
AP
175
MP
ILLAS & COTTAGES VILLAS SOLD & COTTAGES SOLD
$300
$2.50
AP MP
$700
200
Price In Millions Price In Millions
MP
$300
$400
$300
AP
200
Price In Thousands
$500 $800 $400 $700 $300 $600 $200 $500 $100 $400
Price In Thousands MP AP MP
AP MP
75
Price In Thousands Price In Thousands
125 200 100 175 75 150 50 125 25 100
$800 AP
AP
VILLAS 175 & COTTAGES $700 VILLAS & COTTAGES
0
$400
$500
VILLAS & COTTAGES SOLD = 69
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
$800
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold 150 $600 Price (MP) vs. Units Sold
25
$500
$800
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
50
2017
2020
2021
0
2021 2019
2020 2018
2019 2017
0
25
2018
2017
100
UNDEVELOPEDUNDEVELOPED HOMESITES SOLD HOMESITES SOLD
2021
2020
2019
50
$900
$70043% $1.0M $600 $900 $500 $800 $400 $700 $300 $600
MP
200
0
2019 2017 2020 2018 2021
2018
2017
TOTAL UNITS SOLD TOTAL UNITS SOLD
300 0
$700 $1.0M $600 $900 $500 $800 $400 $700 $300 $600
Price In Thousands Price In Thousands
400 100
MP
0
500 200
100 175 75 150 50 125 25 100 0 75
MP
0 0
100 175 75 150 50 125 25 100 0 75
600 300
AP
0 0
125
HOMESITES 150 HOMESITES $900
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold 125 $800 Price (MP) vs. Units Sold
AP MP
0 0
150
23%
$1.0M AP
0 0
500 TOTAL UNITS SOLD TOTAL UNITS SOLD 400
Price In Thousands Price In Thousands
0
6%
Q3 2021 TRANSACTION TRENDS ON KIAWAH 175 $1.0M 175 AP
00
TOTAL UNITS SOLD TOTAL UNITS SOLD
600 THROUGH
00
Average Price (AP) vs. Median Average Price (AP) vs. Median Price (MP) vs. Units Sold Price (MP) vs. Units Sold
$1.75 0 $1.50 $1.25
87%
< $1M = 39 $1 - 2M = 2
> $2M = 4
Kiawah Island Property Report |
January - September 2021 Results
KIAWAH ISLAND REAL ESTATE (KIRE) SALES DATA President Dan Whalen's Note:
KIAWAH ISLAND
Our company, Kiawah Island Real Estate (KIRE) saw the best three quarters of the year in our history closing out the third quarter of this year. This follows the best year in company history (2020), best first quarter in company history (Q1 2021), and best first half of the year (Q2 2021).
You will see in the chart to the right that we closed $549M, a 60% increase from the
REAL ESTATE'S (KIRE) HISTORY OF CLOSING ACTIVITY THRU Q3
same time last year which was at the time the previous company high. And we were responsible for 75% of total Island-wide closings year to date.
While we continue to enjoy welcoming hundreds of new families to Kiawah each
YEAR
PROPERTIES
DOLLAR VOLUME
2 021
372
$ 5 49M
2 02 0
255
$343M
2 019
13 5
$142 M
2 01 8
137
$1 8 0 M
quarter with our unprecedented sales activity, we know undoubtedly this will slow down. With only 1.7% of Island-wide properties available for sale as you saw in the report, we simply have never seen inventory this low. Interested Kiawah buyers continue to come to us and it may be a few years before inventory is replenished to support the demand.
CLOSED TRANSACTIONS BY SELLING AGENCY THROUGH THIRD QUARTER 2021 * Property Type
KIRE
AE
PHX
CAR
ADDL O/S
TOTAL
2 017
14 8
$174 M
HOMES
149
19
12
2
19
201
2 016
16 0
$19 9M
< $1.5M
29
8
6
2
10
55
$1.5M-$2.5M
58
5
3
0
7
73
2 01 5
1 57
$2 29M
> $2.5M
62
6
3
0
2
73
HOMESITES
123
6
5
0
8
142
2 014
13 6
$16 6M
< $1M
103
0
4
0
7
114
$1M - $2M
13
6
0
0
1
20
2 013
155
$170 M
> $2M
7
0
1
0
0
8
2 01 2
149
$176M
2 011
114
$131 M
2 01 0
13 0
$190 M
20 0 9
100
$1 21 M
2008
128
$217M
VILLAS & COTTAGES* 1 Bedroom
100
23
20
1
19
163
29
4
4
0
6
43
2 Bedroom
37
9
8
0
8
62
3 Bedroom
30
10
7
1
4
52
4 Bedroom
4
0
1
0
1
6
Total Closed Transactions
372
48
37
3
46
506
*Excludes Timbers Kiawah Sales. KIRE: Kiawah Island Real Estate, AE: Akers Ellis, PHX: Pam Harrington Exclusives, CAR: Carolina One, 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.