Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
2022 First 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 Quarter Sales Results on Kiawah properties sold
113
volume in millions 2022
=
2021
= $205M
2020
=
$74M
2 0 19
=
$52M
2018
=
$67M
2017
=
$75 M
2 0 16
=
$49M
2015
=
$52M
average sales price villa & cottage
2 0 14
=
$4 1M
2 0 13
=
$38M
(+14% from Q1 2021)
2012
=
$4 1M
$182M
(-11% from Q1 2021)
average sales price single-family home
$3.1M
AT
(+40% from Q1 2021)
2 0 2 2
•
(end of Q1 each year)
dollar volume
A
G L A N C E
(-36% from Q1 2021)
Q 1
O B S E R V AT I O N S :
total Island-wide dollar
average sales price homesite
$711K
(+30% from Q1 2021)
$731K
HI STOR I C AL
$182M
•
•
•
I SL AN D -W I DE
The 1st quarter of 2022 was the 2nd best opening quarter in Kiawah Island history. 113 Island properties were sold and closed for $182M. While volume was off 11% from last year's record-breaking 1st quarter, it was 146% higher than pre-COVID levels from Q1 2020 and 250% higher than Q1 2019. Record low inventory continues. At the end of Q1 2022, only 1.1% of Kiawah Island's inventory was available for purchase. The lowest that Kiawah has ever seen and not nearly enough inventory to match demand. We saw a 22% increase in sales of homes priced above $2.5M and a 75% decrease in homes priced below $1M. At the close of the quarter, there were zero homes available priced under $1M. The number of available single-family homes dropped 40% YOY and 86% versus Q1 2020. We are seeing prices increase dramatically due to limited supply. The average price for a single family home was $3.1M which represents a 40% increase over last year and the average price per square foot was $813, an increase of 36%.
Q1
CLOS I N G
AC T I V I T Y
175
$200M
177
150
$175M
125
$150M 113
100 75 50 25 0
37
2008
26 2009
31
35
2010
2011
47
2012
42
46
2013
2014
42
44
2015
2016
$100M
63
63 51
$75M
50
$50M 2017
2018
2019
2020
2021
2022
KIAWAH ISLAND AVERAGE SINGLE-FAMILY HOME PRICES Average Price Average Price Per Square Foot
$1.37M $1.36M $1.64M $1.93M $2.03M $1.65M $1.89M $1.39M $2.02M $2.21M $3.12M $381
$419
$420
$523
$125M
$538
$416
$453
$475
$550
$591
$813
Data was accumulated from property waivers submitted to Kiawah Partners and supplemented by other reliable sources including Charleston County property tax records.
$25M