Q4 Summary: Club Cottages & Villas

Transaction volume was down -50% YOY for the fourth quarter of 2022, dropping from four sales in Q4 2021 to two sales in Q4 2022.

Total sales value was up +13%, increasing from $10.1M in Q4 of 2021 to $11.4M in Q4 of 2022.

PPSF was up +99% YOY, increasing from $818 PPSF in Q4 2021 to $1,631 in Q4 2022. This large increase was driven by a record-breaking sale for club cottages & villas, which went for $8.5M at 185 Island Drive.

Club Cottages & Villas: Transactions

2022 closed out the year with 11 club cottage and villa transactions, which was a -39% YOY decline. Unlike custom homes, it’s worth noting that 11 transactions is average for a typical year, based on the last 20+ years of sales.

Club Cottages & Villas: Total Sales Value

Total sales value for club cottages and villas was just below $40M in 2022, split between waterfront ($20M) and non-waterfront ($20M) sales.

In 2022, total sales value on the club cottages & villas asset class was only down -2.8% compared to 2021, and flat compared to 2020. Overall, it was above pre-Covid levels.

Sales Value ($) Non-Waterfront Sales Sales Value ($) Waterfront

Club Cottages & Villas: Price Per Square Foot

Price per square foot on club cottages and villas was up +49% for waterfront villas and +56.6% for non-waterfront villas in 2022. Waterfront cottage and villa PPSF rose from $954 to $1,423, and non-waterfront PPSF increased from $591 to $926, from 2021 to 2022 respectively.