K
iawah Island's 2024 sales figures have shattered records, with a staggering $1.07 billion in closed transactions, marking the island's most lucrative year to date. This milestone is largely attributed to Kiawah Island Real Estate (KIRE), which achieved an unprecedented $825 million in closed sales, accounting for approximately 80% of the island's total sales volume.

    "We're fortunate to operate in a region that consistently attracts buyers," said Dan Whalen, president of KIRE. "Limited inventory and sustained demand have created a perfect storm for real estate growth on Kiawah Island." The island's unique blend of natural beauty, outdoor recreation opportunities, and proximity to Charleston has proven irresistible to buyers.

    Compared to 2023, total closed sales on the island surged by 49%, while KIRE's closed sales increased by 43%. This represents a significant leap from 2021, when Kiawah Island saw its previous best year with $1.04 billion in sales – a mere 3% increase over 2024.

    "The enduring appeal of Kiawah Island as a community is clear," said Chris Randolph, managing partner for South Street Partners. "We're poised to enter 2025 with record-low supply, continued buyer demand, and exciting new developments that will further enhance the island's value."

    Notably, single-family homes on the island averaged $3,882,550 in 2024, with a median price of $2,977,000. This marks a significant increase from 2023, when prices averaged $2,977,000 and medians reached $2,995,000. The market also saw its second consecutive year with over 20 sales exceeding $5 million.

    As the island enters 2025, Kiawah boasts an inventory of just 113 properties – roughly 2% of the island's total stock.