Upscale island communities report higher home sales

Kiawah Island Real Estate sales for June included an $11 million deal.

Kiawah Island Real Estate continues to post impressive numbers for homes sold on the resort community.

The firm reported $29 million in sales in June from 17 closed transactions. The agency did not report how many sales it saw in June 2014.

Among the properties sold last month was an $11 million home at 57 Surfsong Road to Surfsong Beach House LLC, according to Charleston County records.

The buyer is linked to JMI Realty in Austin, Texas. The company, a subsidiary of JMI Services, is led by John Moores, former owner of the San Diego Padres baseball team, according to the company website.

For the first six months of the year, total sales volume on the island for the firm stands at $142 million, up 41 percent from the January-June period of 2014. The firm handled 92 transactions from January through June this year compared to 90 during the same period last year.

“The pipeline for continued summer sales already looks promising, as we continue to see positive real estate growth on the island,” said Chris Drury, president and broker-in-charge of Kiawah Island Real Estate

The agency also reported $28 million in new signed contracts for June. Year to date, the firm has 115 signed contracts with a value of $173 million, compared to 103 signed contracts with a value of $116 million at this time last year.

This year’s dollar amount is skewed higher because of the sale in April of a $20.25 million property on Bally Bunion Drive.

Kiawah Island Real Estate handles the majority of listings in the exclusive, gated community.

On Daniel Island, which is part of the city of Charleston, sales of single-family homes in the first half of the year neared $97 million, up 26 percent compared to the same period in 2014, according to Daniel Island Real Estate.

Overall, the average selling price for a single-family home on the island is up 14 percent, bringing prices back to 2006 levels. The average selling price so far this year is about $865,000, and 112 homes have sold so far this year, eight more than this point in 2014. Twenty homes sold in June.

The increased dollar volume was in part fueled by a rise in homes selling for more than $1 million. So far this year, 30 properties have sold for over $1 million, twice as many compared to the first half of 2014.

Interest in island home sites is also notable. The first offering of homesites in Ralston Grove and Nobel’s Point, two recently introduced neighborhoods, have already sold out.

Prospective homebuyers are increasingly finding it more difficult to gain keys to a new home. That’s because a lack of inventory is the No. 1 issue among those seeking to purchase a new home, according to a recent survey.

Two-thirds of respondents said lack of inventory or low inventory was the main problem encountered by prospective buyers, according to a survey by the National Association of Exclusive Buyer Agents.

In its recent home sales report, the Charleston Trident Association of Realtors indicated it is becoming a problem in the Lowcountry as well because “demand in our market is very high and is starting to outpace inventory.”

The second most-reported issue was affordability of available homes. The median price of a home in the Charleston region for the first six months of 2015 was $225,000, up 4 percent.

A new apartment complex is being proposed for Mount Pleasant.

A firm called Six Mile Outparcel LLC, registered to developer Anthony Kassis, wants to build 92 rental units on a 3-acre parcel at Basketweave Drive and Sweetgrass Basket Parkway. The site is behind the Harris Teeter- and Hobby Lobby-anchored Six Mile Marketplace Shopping Center, just north of the Isle of Palms connector, on U.S. Highway 17.

Site plans show four three-story apartment buildings, a pool and a retail site on a corner near the shopping center.

The town’s Commercial Design Review Board will consider the proposal Wednesday.

The Florence-based company that owns and operates several Ashley Furniture HomeStores in the Carolinas and Georgia has leased a nearly 7,000-square-foot office at 1930 Hanahan Road in North Charleston.

The Parrot Group will use the space in the SC Works facility for administrative offices and training, according to Jeremy Willits with Avison Young commercial real estate.

Also gaining office space is semi-custom homebuilder True Homes LLC. Its showroom and office will open later this summer in Summerville, according to Belk|Lucy commercial real estate. The company recently leased 2,300 square feet in The Shoppes at Bacons Bridge at 850 Bacons Bridge Road.

Homebuilders are offering two new communities in Cane Bay and Carolina Bay.

Lennar Homes will build 40 homes in The Coves at Lakes of Cane Bay in Cane Bay Plantation in Berkeley County.

The homes range from three to five bedrooms and from 1,804 to 2,849 square feet. Prices begin in the mid-$200,000s, and homes will be ready later this summer. In addition to a 300-acre lake, The Coves will soon include an eight-mile blueway for kayaking, canoeing and paddleboarding and an amenities center.

Also, Pulte Homes is now offering new homes in Carolina Bay’s Oakhurst community.

Priced from $341,000 to $378,000, the homes off Savannah Highway in West Ashley feature six designs. The three- and four-bedroom homes range from 2,321 to 3,205 square feet.

Homebuilder Ashton Woods now has a model home in Limehouse Village, a community of more than 350 homes in Summerville. The two-story home at 102 Julian Hamlet off Dorchester Road also includes a two-car detached garage, a feature that many homes in the community will include.

The community currently has three homes available for move-in. They are priced from the high $200,000s. The community features walking trails, a pool and a pavilion.

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