Kiawah Island Real Estate Announces April Sales Results - Sales Top $66,500,000

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	Kiawah Island Kiawah Island, South Carolina

KIAWAH ISLAND REAL ESTATE ANNOUNCES APRIL SALES RESULTS
Sales Top $66,500,000

Kiawah Island, SC – Kiawah Island Real Estate (KIRE) has reported sales for the month ended April 30, 2008, and it was an outstanding month for KIRE.

It is well known that real estate markets, on a national, regional, and local basis, have been under performing for some time when compared to past years. There has been anticipation, however, that markets are showing signs of recovery. Luxury home markets, although they have also seen some decline, have not trended downward as significantly as other real estate categories.

Kiawah, however, is bucking the trend, with $66,551,000 in sales for the month of April, making April’s sales volume the highest in recent months for a single month.

“Our Spring sales activity has been very strong. We are very excited about the results for the month,” says KIRE President Chris Drury. “We had a total of 28 transactions in April, and Kiawah’s properties are also capturing top dollar. Our sales executives have worked very hard to make that happen.”

Sales of newly released lots in The Settlement, one of Kiawah Island’s New Neighborhoods, contributed almost $20,000,000 to the total sales for the month. Seven of nine lots released on April 30 sold the same day.

“The luxury home market across the country is performing better than most market segments, and is expected to continue to do so,” says Drury. “We expect sales for Kiawah Island, and for KIRE in particular, to continue to grow in the months ahead.”

Drury says that the desirability of the strong Kiawah brand along with the Charleston area and buyer demographics for Kiawah Island also contribute to a positive outlook. “Our clients are optimistic about their financial status. They are not as impacted by fluctuations in the economy as are other buyers. The people who are purchasing homes and homesites here are also confident that their investments at Kiawah will increase in value in the years to come.”

Values of Kiawah Island properties have continued to rise across the board, says Drury, and the trend is most apparent in high-end home sales. The median price of homes sold in 2007 increased nearly 4% vs. 2006.

In 2007, KIRE handled more than 84% of Kiawah Island single family home sales, and had a total market share of 84%. The KIRE focus on excellent customer service, years of experience, integrity, and unequalled knowledge of the Kiawah Island market are the underpinnings of its market leadership.

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Kiawah Island Real Estate, an affiliate of Kiawah Development Partners, is the exclusive broker for new developments on the Island and hundreds of resale properties, from undeveloped homesites to single-family homes, cottages, and villas. KDP is the master developer of Kiawah Island, a 10,000-acre sea island located 21 miles south of Charleston, South Carolina. The company’s other subsidiaries include The Kiawah Island Club, which encompasses the Tom Fazio-designed River Course, the Tom Watson-designed Cassique, The Beach Club and Sasanqua, the Members-only spa; Freshfields Village; Doonbeg Golf Club in Ireland, and Christophe Harbour in St. Kitts. For more information about KDP and KIRE, visit www.kiawahisland.com, or contact Sis Reda, Kiawah Development Partners at sis_reda@kiawahisland.com or (843) 768-6529.

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