QUARTERLY SALES UPDATE – 2 01 9 T H I R D Q UA RT E R U P DAT E –
Fall has arrived in the Lowcountry, and we are excited to celebrate with some of our biggest events here on the Bluff. Our 13th helping of Music to Your Mouth will be here before we know it, November 18 – 24. In December, we’ll welcome Hibiscus Linens to the Artist Cottage, close out our 2019 Chapel Concert series with Lowcountry Boil, and host our sixth annual Buffalo Run (10K, 30K, and 50K trail races). This is also the busiest time of year for Palmetto Bluff Real Estate Company. We are pleased to share our performance results so far in 2019, and we are excited to welcome many new owners to the community. 2019 has been a record-setting year for Palmetto Bluff Real Estate Company. As we head into the fourth quarter of 2019, Palmetto Bluff continues to see vigorous demand across almost every segment of our real estate market. Through September 30, Palmetto Bluff has seen $138 million in sales communitywide. To put this into perspective, the record for total closing volume was set in 2005 with $155 million, followed by 2006 with $130 million. With three strong months left in the year, Palmetto Bluff is already at its second highest year for community sales volume which has been boosted tremendously by existing home transactions. We have 79 homes closed and pending for the year – a record high for sales of existing homes. Total unit transactions closed and pending, year-to-date, are currently at 178. Custom home building has also been strong this year. As many of you are aware, Palmetto Bluff Real Estate Company launched the Builder Guild Home Collection this summer and we have already experienced early success. Between Builder Guild and developer-built home sales, there have been 23 home sales, year to date. There are also 171 homes currently under construction and/or in the design review approval process. This is on top of 656 existing homes within Palmetto Bluff. Further, we are seeing many home purchasers consider Palmetto Bluff as a primary residence. This general movement toward full-time buyers, along with a strong demand for new construction, will continue to be the trend for Palmetto Bluff, and it won’t be long until we welcome our 800th resident to the community. As we move into our historically strong fall season, we want to thank you again for your enthusiasm for this community and your unwavering support for this place. We look forward to seeing all of you around the Bluff this fall. Warm regards, The Palmetto Bluff Real Estate Company
W. BRYAN BYRNE
AMANDA CUTRER
JEFF QUINN
MARTIN ROACHE