Kiawah Island Property Report A
K I A W A H
I S L A N D
R E A L
January - September 2023 Results
|
E S T A T E
P U B L I C A T I O N
kiawahisland.com
|
843.396.1522
FIR ST THREE QUAR TER S AT A GL ANCE
Island-wide Sales Results Through Q3 2023 total properties closed
264
K E Y
total Island-wide inventory* (end of Q3 each year)
total dollar volume
$571M
(-6% from Q3 2022)
single-family home median price
$3.1M
(+11% from Q3 2022)
2023
=
123
2022
=
102
2021
=
84
2020
=
260
2 019
=
449
2 01 8
=
homesite median price
489
2 017
=
5 37
$815K
2 016
=
538
(+25% from Q3 2022)
2 01 5
=
533
villa & cottage median price
2 014
=
535
$698K
2 013
=
549
(-10% from Q3 2022)
O B S E R V AT I O N S :
•
Kiawah Island experienced a strong Q3 to end the first three quarters of 2023 with 264 Island-wide properties sold for $571M. Although this represents a 17% decrease in transactions year-over-year (YOY), sales volume was only down 6%. Unlike the first two quarters of 2023, Q3 2023 had YOY increases in transactions and sales volume.
•
Due to the limited number of available homesites, average prices have increased 43% and median prices have increased 25%. Homesites sold over $1M jumped from representing 18% of total homesite sales in 2022 through Q3 to 38% of total homesite sales in 2023 through Q3. There have been 11 homesites priced over $2M sold this year (compared to 6 in 2022).
•
Inventory on the Island has grown slightly with 123 total properties available at the end of Q3 2023 compared to 102 in Q3 2022. Single-family homes lead inventory with 45% of the share and have a median price of $3.1M–an increase of 11% YOY.
•
The number of single-family homes sold over $5M has grown, representing 26% of the total homes sold in Q3. Homes priced between $2M and $5M continue to lead home sales with 55% of all homes sold in Q3.
*Excluding Timbers
HISTORICAL ISL AND-WI DE CLOSING ACTIVIT Y JANUARY 1ST - SEPTEM BER 30TH
$742
$500M $400M $300M $200M $100M
600 $608
$571
$475
$279
$225 $160 2010
2011
$202
$218
$211
2012
2013
2014
2015
$233
$235
$255
2016
2017
2018
$220
2019
2020
2021
2022
2023
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