Kiawah Island Property Report
Island-Wide Sales Results for First Half 2024
total properties closed 244
(+45% from first half 2023)
total dollar volume
$614M
(+61% from first half 2023)
single-family home median price
$3.03M
(-4% from first half 2023) homesite median price
$631K
(-26% from first half 2023)
villa & cottage median price
$1.8M
(+153% from first half 2023)
total Island-wide available inventory (end of Q2 each year)
• Kiawah Island saw a strong first half of the year, with 244 closings for a total of $614M in sales volume, signifying a 61% increase year-over-year (YOY) in dollar volume and a 45% increase YOY in total properties sold on the Island. This large YOY increase is primarily due to closings at The Cape where 58 villas have closed so far this year, accounting for over $215M of the total sales volume.
• Median prices for single-family homes have stabilized, with only a 4% decrease YOY at $3.03M, while the homesite median price has dropped by 26%. Villa and cottage median and average prices increased significantly; even after excluding sales at The Cape, the average sales price for villas and cottages increased by 53%.
• Inventory remains low on the Island, with 2.6% of Islandwide properties being listed at the end of Q2 2024. Of the 129 active listings, 67 are single-family homes, 38 are villas and cottages, and 24 are homesites.
• There has been a significant increase in the number of villas and cottages sold, with 135 sold in the first half of 2024, up from 55 in the first half of 2023, and the sales volume has increased by 571%. While sales from The Cape’s oceanfront villas greatly contributed to this increase, the Island experienced a general increase in villas and cottages overall.
• Single-family homes priced over $5M made up 20% of Q2 2024 home sales, and homes between $2M-$5M continue to take the lion's share of all home sales, making up nearly 70% in Q2 2024.