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Kiawah Island reports record $808M in closed sales in 2020
The record-breaking year in property sales throughout the Charleston region in 2020 spilled over into upscale Kiawah Island as well.
Kiawah Island Real Estate reported a record $568 million in closed sales on 406 transactions the firm handled. Other firms closed on 249 other sales on the island for a total among all real estate agencies of $808 million last year.
Kiawah Island Real Estate, which traditionally handles more sales on the barrier island south of Charleston than any other agency, said last year's sales volume in dollars was the highest in its 44-year history and represented a 185 percent increase over 2019. The number of closings was the highest since 2005, just before the real estate market crashed and the Great Recession ensued.
The firm sold 187 single-family homes and 219 other properties, including cottages or vacant land.
One notable sale by the firm was the house at 107 Flyway Drive for $13.25 million, the highest single-family home sale on Kiawah Island and in Charleston County last year. Others of note include 129/132 Flyway for $8 million, a custom home at 4 Shell Creek Landing for $3.2 million and an oceanfront lot at 9 Eugenia Ave. for $4 million.
Because of the high volume of sales last year, the agency currently has just 77 single-family homes for sale, with the lowest inventory of available properties in the island's history. Inventory of all properties dropped from 435 at the end of 2019 to 224 as of Dec. 1, 2020.
The firm expects new construction to pick up the pace in 2021 as people are continuing to seek out new home sites on the island.
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The 304-unit Atlantic on Romney Apartments will begin to take shape in the spring.
By the numbers
11.5: Number of acres of Watts Mobile Home Park in Mount Pleasant where developers hope to build 32 single-family homes after the property is annexed into the town.
25: Millions of dollars South Carolina has to help people catch up on missed rent and mortgage payments because of the pandemic.
7811: Address on Rivers Avenue in North Charleston for the new Bahama Breeze restaurant that will open soon.
21,826: Number of homes sold across the Charleston region in 2020, jumping 17.2 percent to set a new annual record amid the coronavirus pandemic that crippled some other industries. Solid growth in residential real estate transactions predicted for year ahead.
This week in real estate
+ City architect: Charleston recently hired a new architect to guide the Board of Architectural Review and the Design Review Board, two committees with strong influence on what the city's buildings look like.
+ Building up: Some South Carolina construction firms expect to add workers this year even as projects get canceled.
+ Fiery growth: Charleston plans to build a second fire station on Johns Island to meet the rapid pace of development on the city's southern edge.
William Means Real Estate, in business since 1933, recently bought the building at 353 N. Shelmore Blvd. in Mount Pleasant and will leave its home on Broad Street in downtown Charleston later this year.
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