PALMETTO BLUFF PROPERTY REPORT –
2023 MIDYEAR UPDATE –
total closed & pending 129 for $255.4M total homes closed & pending 103 for $228.5M total homesites closed & pending 26 for $26.9M
Numbers reflect community-wide closed and pending sales
Palmetto Bluff ended the second quarter on a high note with 129 closed and pending transactions community-wide for $255.4 million. Palmetto Bluff Real Estate Company dominated the market, as we brought the buyer for 82 transactions, equating to $154.5 million in dollar volume. Comparatively, the next closest firm brought just 19 buyers.
While the number of closed transactions year-to-date is lower compared to 2021 and 2022 (historic years), the average purchase price of Palmetto Bluff homes and homesites has increased significantly. In fact, total sales volume has doubled compared to 2019and with fewer transactions.
Interest in new construction has not waned; 398 homes are either in the construction or Design Review Board approval stages and 977 homes have been completed. Notably, our first built-for-sale enclave, The Grove, was released last month in Moreland Forest and has already attracted its first residents to break ground.
As the market leader, Palmetto Bluff Real Estate Company has an advantage in selling your home. We deliver superior results for sellers and it shows. Our home listings sell for 5.4% more than competing firms. We also have a strong pulse on current market conditions and upcoming releases if you’re interested in purchasing a new home. Please reach out to us if you’d like to learn more about our community and future new releases. We are here to help!
MIDYEAR COMPARISON
70% of all Closed &
2023 MIDYEAR AT A GLANCE
Palmetto Bluff Real Estate
was involved in
Pending Transactions 2019 2020 2021 2022 2023 Properties Closed 92 105 193 134 76 Dollar Volume $78.9M $97.9M $178.3M $191.4M $153.5M Average Home Purchase Price $1.42M $1.47M $1.82M $2.21M $2.40M (Resale and Developer) Average Homesite Purchase Price $355K $615K $545K $855K $1.02M (Resale and Developer)
Company
PALMETTO BLUFF PROPERTY REPORT
DESIGN
CURRENT ACTIVE RESALE LISTINGS HOMES HOMESITES Active Listings 35 39 Average List Price $3.218M $1.159M Median List Price $2.595M $795K Average Price per sq ft $833 RESALE HOMESITE CLOSINGS 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0 Average Price ($ in 000s) Median Price ($ in 000s) RESALE HOME CLOSINGS 3,000 2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500 250 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Average Price ($ in 000s) Median Price ($ in 000s) $1.228M $1.014M $1.411M $1.505M $1.346M $1.315M $1.590M $1.453M $1.674M $2.331M $1.025M $900K $990K $1.200M $1.200M $1.195M $1.375M $1.334M $1.390M $1.893M MARKET TRENDS UPDATE Homes in Review 146 Homes Under Construction 252 Total Completed Homes 977 ACTIVE RESALE MARKET ACCOUNTS FOR 5% OF ALL PROPERTY 12% increase in median purchase price since the end of Q4 2022 Average resale homesite purchase prices remain over $1M $2.557M $2.786M $2.390M $2.688M 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $306K $322K $445K $362K $325K $495K $399K $460K $528K $742K $1.131M $1.083M $180K $185K $227K $273K $278K $350K $311K $388K $408K $635K $920K $810K
REVIEW BOARD
PALMETTO BLUFF PROPERTY REPORT
PALMETTO BLUFF REAL ESTATE COMPANY VS. OUTSIDE FIRMS
We were involved in 88 of 129 closed/ pending transactions
We brought the buyer for 82 of 129 closed/ pending transactions
70%
64%
The next closest firm had only 19 of 129 (15%).
AVERAGE RESALE CLOSING PRICE
BY THE NUMBERS
2023 MIDYEAR REAL ESTATE SALES
First and second quarter sales results.*
*SELLING COMPANY WAS PROCURING CAUSE FOR THE TRANSACTION. Closed and pending transactions. All developer lots, developer homes, and builder guild homes are included in the Palmetto Bluff Real Estate transactions.
Homes Closed and Pending By Selling Company* 70 60 50 40 30 20 10 0 21 18 15 12 9 6 3 0 PBREC Company Q Company B-O Company P Private Sale 14 9 67 Homesites Closed and Pending By Selling Company* PBREC Company Q Company B-O Private Sale Company P 5 4 1 1 15
32 Red Knot Road $2,400,000 BEDS: 4 | BATHS: 4 1/2 | SQ FT: 3,250 439 Corley Street $2,395,000 BEDS: 3 | BATHS: 3 1/2 | SQ FT: 2,370 102 Game Land Road $2,199,000 BEDS: 4 | BATHS: 4 1/2 | SQ FT: 3,586 273 Davies Road $5,950,000 BEDS: 6 | BATHS: 6 1/2 | SQ FT: 6,850 99 Game Land Road $1,995,000 BEDS: 4 | BATHS: 4 | SQ FT: 3,003 233 Vinson Road $2,850,000 BEDS: 4 | BATHS: 4 | SQ FT: 3,876
9 4 Palmetto Bluff Real Estate Company Outside Real Estate Firm $1.31M $2.93M $745K $2.78M Homesites Homes ( 5.4% higher ) ( 76% higher )
FEATURED LISTINGS
EXCLUSIVELY FOCUSED ON PALMETTO BLUFF REAL ESTATE FOR OVER 22 YEARS. We take great pride in representing this magnificent community with our on-property sales office in the heart of Wilson Village and exclusive access to show the Palmetto Bluff Club. MORE THAN A place WE WELCOME YOUR VISIT. OUR DOOR IS ALWAYS OPEN. palmettobluff.com | 843.547.9954 19 Village Park Square | Bluffton, South Carolina Obtain the Property Report required by federal law and read it before signing anything. No federal agency has judged the merits or value, if any, of this property. This does not constitute an offer to sell or a solicitation of any offer to buy where prohibited by law. The complete offering terms are in an offering plan available from sponsor. File no. H-110005 ...IT’S A calling
