Kiawah Island Real Estate

Barron’s Penta Recommends Buying on Kiawah

Barron’s Penta Recommends Buying on Kiawah

April 5, 2016

Categories: Press

For the sixth year in a row, Barron’s PENTA magazine has ranked Kiawah Island on its list of America’s Best Places for Second Homes. The 2016 list sees Kiawah ranked in the top five.

In its 2015 list, the magazine praised the responsible development on Kiawah Island: “Developers of gorgeous areas often succumb to the temptation of selling everything to the highest bidder, and cramming as many houses as possible onto the land, but Kiawah’s developers have protected the beauty of the place, creating a national treasure in the Lowcountry of South Carolina.”

To develop this year’s list, which it published on March 26, 2016, PENTA and its data partner selected the ZIP codes with the highest concentrations of second homes and filtered the database for all single-family homes sold for more than $1 million across all the destinations.

Kiawah Island’s luxury home market has continued to enjoy an upward trajectory, easily outpacing the performance of upscale coastal communities Nantucket and The Hamptons, each of which saw decreasing real estate transactions as of the third quarter of 2015 versus the previous year.

In 2015, Kiawah enjoyed more closed properties than in any year since 2007. Sales of single-family homes were particularly strong. A few sales of $10+ million contributed to the 46% year-over-year increase in overall dollar volume of home closings, but the true strength of the market for Kiawah homes was reflected in the 29% increase in the number of homes sold and the 10% increase in median price.

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