Luxury Real Estate: Brisk Activity, Kiawah Beachfront Home Sold for $11M
Luxury homes above $3M are continuing to sell briskly in the Charleston Area. The following table shows the activity for homes sold above $3M through the Charleston MLS.
Twenty eight such luxury homes changed hands in the first two quarters of 2017, compared with thirty during the same period this year. The median price and size remained similar. The activity shows steady strength for this luxury market. Although these expensive homes take a few months to sell, inventory is pretty low (see Sales & Inventory table below).
The top price for this first half of the year almost doubled. A Kiawah Island home at 109 Flyway Drive just closed for $11.1M. This 7,482-square-foot beachfront mansion set the sales price record for this year, and features eight bedrooms, nine bathrooms, an elevator, a pool and guest cottage, and a direct path to a beautiful beach.