Kiawah Island Real Estate Sales Trend Upward In 1Q 2011 (Back )

April 27, 2011

Real Estate Sales Trending Upward for Kiawah Island, South Carolina

Resort Community Sees First-Quarter Sales Reach $63.2 Million

April 27, 2011 (Kiawah Island, S.C.) - Real estate sales at the private, residential resort development of Kiawah Island continued the positive momentum gained in 2010 by exceeding first-quarter sales from a year ago.  Kiawah Island Real Estate (KIRE), the real estate brokerage company for Kiawah Island, reported 42 new sales with a total dollar volume of $63.2 million during the first three months of 2011.  In comparison, KIRE sold 39 properties for a total of $61.1 million in the first-quarter of 2010.

“The bottom of the market is definitely in our rearview mirror,” said Chris Drury, President and Broker-In-Charge of KIRE.  “Based on these figures and historical sales trends, Kiawah is experiencing a rising market where inventory is available and prices reflect a value consumers can not afford to miss.”

First-quarter sales figures reflect the second-home market at Kiawah Island, the barrier island located 21 miles south of Charleston, South Carolina, has recovered from the economic recession of the past several years.  Further evidence is data within historical sales figures that indicate Kiawah is in the second year of a four year rising market.  Dating back to 1990, real estate sales history shows that when Kiawah experiences a distressed market, a three to four year rising market follows.  Last year was the beginning of a rising market where sales increased 51% over 2009.

“Recent sales performance numbers underscore Kiawah’s competitive muscle in the market place,” said Diana Permar, President of Permar Inc., a real estate market research and advisory firm based in Charleston, SC.  “Over the past two decades, Kiawah has consistently achieved among the highest sales volumes amongst coastal communities at top of the market pricing.”

Permar Inc. tracks real estate trends for residential, recreational and resort communities throughout the southeast.  It indicated that Kiawah’s success can at least in part be attributed to the quality of the community’s master plan, the strength of the company’s fundamental development strategy, and a high ratio of linear feet of beach to developable land.

Kiawah Island Real Estate is the sole real estate broker with offices on Kiawah Island.  Its 22 agents exclusively offer homesites, villas, cottages and single-family residences, many with views of the Atlantic Ocean or Kiawah River and the surrounding marsh lands. For more information, visit www.Kiawah.com or call (843) 768-3400.

Kiawah Partners is the master developer of Kiawah Island, a 10,000-acre barrier island located 21 miles south of Charleston, South Carolina. The company’s subsidiaries include Kiawah Island Real Estate; The Kiawah Island Club, which encompasses the Tom Fazio-designed River Course, the Tom Watson-designed Cassique, The Beach Club by Robert A.M. Stern, The Sports Pavilion, and Sasanqua, the Members-only spa; Freshfields Village;  The Lodge at Doonbeg in Ireland; and Christophe Harbour in St. Kitts. For more information, visit http://www.KPNewsroom.com.

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