Kiawah Island Real Estate reports best April in 8 years

Kiawah Island Real Estate reported its best April in property sales in eight years, including this house at 181 Bally Bunion Drive that sold for $20.25 million last month.

Kiawah Island Real Estate closed $48.8 million in sales in April, making it the company’s best month in eight years.

The last time the firm achieved a higher monthly closed volume was in June 2007, when sales approached $48.9 million.

April’s sales numbers received a boost when the 9,777-square-foot oceanfront spread on 3 acres at 181 Bally Bunion Drive sold for $20.25 million, the most ever paid for a home on the seaside resort.

The buyer, 181 Bally Bunion Drive LLC, is associated with Philadelphia-area resident Michael J. Angelakis, who recently announced he is stepping down as vice chairman and chief financial officer of cable TV and broadcasting giant Comcast Corp. to run a new venture fund with his employer.

The real estate company also saw $47.2 million in new contracts last month, its highest monthly sales volume for new contracts since March 2006, which recorded $56 million.

Kiawah Island Real Estate is the leader of firms selling property on the resort island, with a market share of 88.4 percent.

The firm also reported strong sales in 2014, with a closed sales volume of more than $311 million on 273 properties on Kiawah and Cassique.

Lot sales, most of them resales, were up 7.5 percent last year and dollar volume grew more than 17 percent.

Last year marked the fifth consecutive year lot sales climbed year over year.

“Kiawah is part of a global luxury housing market that is experiencing double-digit growth,” said Chris Drury, president and broker-in-charge of Kiawah Island Real Estate. “April was a stand-out month for us, and a good indicator that we’re going to see this positive sales trajectory continue.”

Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.