Kiawah Island Property Report

YEAR-END ISLAND-WIDE SALES RESULTS FOR 2022

total Island-wide dollar volume in millions

2022 = $742.0M

2021 = $1.04B

2020 = $807.3M 2019 =

=

2017 = $321.1M

2016 = $312.2M

2015 = $362.3M

2014 = $311.3M

2013 = $318.8M

2012 = $293.7M

2011 = $214.7M

OBSERVATIONS:

• Following two record-breaking years, Kiawah Island saw 386 closings in 2022 for a total of $742M in sales volume –making 2022 the 3rd best year in the history of the Island. While total transactions were down nearly 50% year-overyear (YOY) due to the Island experiencing a moderated sales pace, sales volume only dipped 29% due to both average and median prices increasing significantly across all property types.

• The average and median sales prices for single-family homes have never been higher, increasing to $3.3M and $2.7M respectively. Unsurprisingly, the percentage of homes sold over $2.5M (58%) surpassed the percentage of homes sold between $1M – $2.5M (40%) for the first time in Island history.

• The distribution of sales across the various property types remained relatively consistent with last year. Home sales accounted for 41% of total sales compared to 34% in 2021, while homesites accounted for 25% vs. 29% in 2021 and villas & cottages made up 34% of sales vs. 37% in 2021.

• At year-end there were 118 properties available for sale on Kiawah, up from last year’s record low of 65, but still remains at just 2.4% of total Island inventory.

Kiawah Island Closings Snapshot

2022 ISLAND-WIDE FACTS & FIGURES

FOR- SALE ISLAND - WIDE INVENTORY COMPARISON

KIAWAH ISLAND REAL ESTATE SALES DATA President

Dan Whalen's Note:

3rd Most Successful Year in Company History

Even with the return to a more normalized sales pace in 2022, we are thrilled to report that Kiawah Island Real Estate (KIRE) experienced another remarkably strong year – our 3rd best in company history. Of the $742M closed Island-wide, KIRE was responsible for $530M representing 72% market share. Of the 158 closed single-family home transactions (the Island’s most sought after property type), KIRE was responsible for 114, or 72% market share.

Of our 258 transactions, 185 were from first-time buyers, proving our persistent focus and long-standing tradition of bringing new buyers eager to find their dream home on Kiawah. Additionally, 26% of all KIRE transactions were from new buyers introduced to us in 2022. While listed inventory has grown in the last year, we expect overall supply to remain at historically low levels in 2023 and our property values to continue to grow despite some challenging macroeconomic conditions.