Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
January - September 2022 Results
|
E S T A T E
P U B L I C A T I O N
kiawahisland.com
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843.396.1522
FIR ST THREE QUAR TER S AT A GL ANCE
ISLAND-WIDE SALES RESULTS THROUGH Q3 2022 total properties closed
318
K E Y
total Island-wide inventory* (end of Q3 each year)
total dollar volume
$608M
(-18% from Q3 2021)
single-family home median price
$2.8M
(+45% from Q3 2021)
2022
=
102
2021
=
84
2020
=
260
2 019
=
449
2 01 8
=
489
2 017
=
villa & cottage median price
5 37
2 016
=
538
$777K
2 01 5
=
533
(+33% from Q3 2021)
2 014
=
535
homesite median price
2 013
=
549
$650K
2 01 2
=
578
(+65% from Q3 2021)
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O B S E R V AT I O N S :
Kiawah Island saw 318 closings in the first three quarters of 2022 for $608M. The Island also saw a return to a traditional sales pace for the first time in over two years in Q3 with transactions down 43%. Interestingly, dollar volume dropped just 18% due to average and median prices jumping 45% and 60% respectively, offsetting the transaction decline. Average sales price for single-family homes closing this quarter was the second largest in company history at $3.4M, second only to Q4 2021. It was also the highest third quarter average sales price in Island history, increasing 33% yearover-year (YOY) from 2021, which remains the most successful three quarters in company history.
•
Single family homes made up 40% of all transactions in the first three quarters of the year which is consistent with a typical year. As the Islands most sought after property type, there was a 36% decrease in the sale of SFH’s YOY due to low inventory . Homes priced below $1M dropped 80%, while homes priced above $2.5M remained flat.
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After two years of record low inventory, the Island is seeing a slow replenishing. Overall inventory increased 21% YOY to 102 listings, but remains at just 2.1% of the Island-wide inventory.
*Excluding Timbers
HISTORICAL ISL AND-WI DE CLOSING ACTIVIT Y JANUARY 1ST - SEPTEM BER 30TH
$741
$500M $400M $300M $200M $100M
600 $608
$475
$279
$225 $160
$139 2009
2010
2011
$202
$218
$211
2012
2013
2014
2015
$233
$235
$254
2016
2017
2018
$220
2019
2020
2021
2022
Data accumulated from property waivers submitted to Kiawah Partners & supplemented by other reliable sources including Charleston County property tax records.
Number of Transactions
$600M
VOLUME IN MILLIONS
$700M
500 400 300 200 100 0