PALMETTO BLUFF PROPERTY REPORT
total closed & pending
246 for $366M total homes closed & pending
142 for $277M total homesites
T H I R D
closed & pending
104 for $89M
2 0 2 2
Q U A R T E R
A T
A
G L A N C E
– 2 02 2 T H I R D Q UA RT E R U P DAT E –
*Numbers reflect community wide closed and pending sales
As we ease into the 4th quarter of the year, we continue to see strong real estate sales within Palmetto Bluff, with 246 closed and pending properties for $366 million. Palmetto Bluff Real Estate Company has remained the top sales leader as our team helped 181 families close on their properties this year, whereas the next closest firm only brought in 19 buyers. Looking at the current market, property in the Bluff is moving at a historically normal pace but at a higher dollar volume. For instance, going into the fourth quarter of 2019, the pre-Covid “normal” market had 130 closed transactions community-wide for $112 million, compared to 176 closed transactions for $262 million in 2022. This represents a 35% increase in the number of transactions and a 134% increase in total dollar volume from 2019 to 2022. We continued to see impressive numbers from the Design Review Board. There are currently 282 homes under construction and 166 in the Design Review Board approval process, for a total of 448 homes representing roughly $853 million in residential construction. This level of building speaks volumes to our dedication to creating a real “place” that people want to embrace and share with their families and friends. We look forward to continuing this trend as we have highly anticipated releases on the horizon. With our experiences and relationships, Palmetto Bluff Real Estate Company is the best-equipped team to make the ownership process as seamless as possible. And while our team focuses solely on Palmetto Bluff, our sales associates offer years of experience selling luxury real estate on the national and international level. Whether you’re interested in buying or selling, we are here to help you navigate all aspects of the Bluff.
YEAR-TO-DATE COMPARISON
Palmetto Bluff Real Estate Company was involved in
81% of all Closed & Pending Transactions
2019
2020
2021
2022
130
203
292
176
$112M
$175M
$282M
$262M
Average Home Purchase Price (Resale and Developer)
$1.43M
$1.57M
$2.0M
$2.2M
Average Homesite Purchase Price (Resale and Developer)
$423K
$507K
$538K
$878K
Properties Closed Dollar Volume