PALMETTO BLUFF PROPERTY REPORT – 2021 YEAR-END SALES REPORT –
properties closed
372 (up 17% from 2020) 2021 AT A GLANCE
dollar volume
$391M (up 52% from 2020) average home purchase price
Palmetto Bluff is excited to announce another record-breaking sales year, surpassing every previously held real estate record. Closed sales topped $391 million, representing a 52% increase in sales volume over 2020 and a staggering 372 transactions. It is clear that our vision and commitment to this place has added value for Palmetto Bluff, far exceeding anything in the local market. Home values continued to skyrocket, growing 40.24% year over year, and averaging $2,155,061 versus $1,536,700 in 2020.
(resale and developer)
$2.15M (up 40% from 2020) average homesite purchase price
Heading into 2022, our focus on the quality of the built and unbuilt environments, our commitment to conservation and life-long learning, and our dedication to creating an authentic community will continue to pay dividends. Inventory across all property types is the lowest ever seen with only nine resale homes and seven resale homesites on the market at the time of this writing, representing just 1% of all privately owned properties community-wide.
(resale and developer)
$574K (up 18% from 2020)
HISTORICAL COMMUNITY-WIDE CLOSING ACTIVITY UNITS
$MM
400 350
$257
300
319
$391
400
372
350 300
250
250 $102
200 $61
150 100 50
$52 55
0 2008
$27
$44
$29
65
67
2010
2011
141
$68
195
$102 155
152
$148 $92 144
$106 151
177
$152
200
197
150 100 50
36
2009
0 2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
PALMETTO BLUFF PROPERTY REPORT
DESIGN REVIEW BOARD: HISTORICAL DATA
In Review
Under Construction Cumulative COs by Year
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
43
27
36
19
26
47
52
59
59
48
70
79
148
172
23
18
26
32
43
67
91
97
87
97
83
101
138
260
140
166
179 205
237 282 336
418 479 544
613 675 747 794
TRANSACTION TRENDS RESALE HOME CLOSINGS $2,331
2,500 2,250 2,000 1,500 1,250
$1,411 $1,228
$1,025
$1,505
$1,346
$1,315
$1,200
$1,200
$1,195
2015
2016
2017
$1,453
$1,893
$1,014
1,000 750
$1,674
$1,590
1,750
$900
$990
2013
2014
$1,375
$1,334 $1,390
2018
2019
500 250 0 2012
Average Price ($ in 000s)
2020
2021
Community-Wide Inventory
Median Price ($ in 000s)
Resale Homes and Homesites Available:
RESALE HOMESITE CLOSINGS $742
800
16
720 640
$528
560
$495
480
$445
400 320
$306
$362
$322
80
$180
$185
2012
2013
1.16%
$408 $350
240 160
$399
$325
$635
$460
$273
$278
2015
2016
$388 $311
98.84%
$227
0 2014
Average Price ($ in 000s)
2017
2018
2019
2020
Median Price ($ in 000s)
2021
Total Properties in Palmetto Bluff:
1,368
PALMETTO BLUFF PROPERTY REPORT
2021 REAL ESTATE SALES
2021 COMMUNITY-WIDE PRICES
Year-to-date sales of homes and homesites closed by selling company.*
13% 29%
YEAR-TO-DATE HOMES
HOMES CLOSED
50 45
127
40 35
58%
30 25
47
20
Under $1M: 16 $1 – $2.5M: 74 Over $2.5M: 37
36
15
24
10
14
5
6
0
Palmetto Bluff Real Estate
Company
Private Sale
Company
Q
B-O
2%
Company
P
20% HOMESITES CLOSED
245
YEAR-TO-DATE HOMESITES 220
78%
198 176
Under $600k: 190 $600k – $1.5M: 50 Over $1.5M: 5
154 132 110
202
88
2020 COMMUNITY-WIDE PRICES
66 44 22 0
Palmetto Bluff Real Estate
6%
23
9
6
5
Company
Company
Private Sales
Company
B-O
Q
P
HOMES CLOSED
110
*SELLING COMPANY WAS PROCURING CAUSE FOR THE TRANSACTION. CLOSED TRANSACTIONS ONLY. ALL DEVELOPER LOTS AND BUILDER GUILD HOMES ARE INCLUDED IN THE PBREC TRANSACTIONS.
71% Under $1M: 25 $1 – $2.5M: 78 Over $2.5M: 7
AVERAGE DAYS ON MARKET BY COMMUNITY
Homes
23%
77
13%
3%
33
Homesites
HOMESITES CLOSED
212
298
84%
51 0
25
50
75
100
125
150
175
200
225
Belfair, Berkley Hall, Colleton River, Old Field and Spring Island
250
275
300
Palmetto Bluff
Under $600k: 177 $600k – $1.5M: 28 Over $1.5M: 7
PALMETTO BLUFF PROPERTY REPORT
MORELAND FOREST In November, Palmetto Bluff introduced its first developer release by South Street Partners with record-breaking results. Moreland Forest, located within walking distance to the amenities of Moreland Village, was strategically and thoughtfully designed to take advantage of preserved wetlands and the 7.5-mile Inland Waterway.
13 $12.8M
$1,715,000
HOMESITES
SOLD FOR
HOMESITE SOLD ON THE INLAND WATERWAY
ON THE FIRST DAY OF
PRE-RELEASE SALES
ONE HOMESITE PURCHASED FOR
$785K
14.7 %
AVERAGE LISTING HOMESITE PRICE
OVER LISTING PRICE
HIGHLIGHTS
102 AUGUST LANE
15 HERNANDO STREET
Listed and sold by PBREC
Listed and sold by PBREC
On the market for ONE Purchased for
DAY
6.25% over listing price
On the market for ONE Purchased for
DAY
100% of listing price
$1,156/SF Highest price
$920/SF Price per square foot
per square foot in Palmetto Bluff history
Under contract after touring via FaceTime
CLOSE PRICE:
CLOSE PRICE:
$2,550,000
$4,195,000
THE PALMETTO BLUFF REAL ESTATE TEAM
W. BRYAN BYRNE 843.247.3374
AMANDA CUTRER 912.484.6782
JEFF QUINN 678.787.3164
bbyrne@palmettobluff.com
acutrer@palmettobluff.com
jquinn@palmettobluff.com
MARTIN ROACHE 854.202.4344
TRACY SCHYBERG 912.659.6206
JIM STATON 704.497.1441
mroache@palmettobluff.com tschyberg@palmettobluff.com
jstaton@palmettobluff.com
PALMETTO BLUFF REAL ESTATE COMPANY 800.501.7405 19 Village Park Square, Bluffton, South Carolina 29910
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. All plans have been prepared for graphic presentation only. Room dimensions, building elevations and narrative descriptions are approximate. This is a conceptual view; details and materials shown may differ from initial offering specifications. Palmetto Bluff Real Estate Company does not represent or warrant that the above design depicts the exact current dimensions of the structure or exact current placement of fixtures within the structure. The customer is responsible for confirming exact current measurements and the exact current placement of fixtures within the structure prior to purchase. © 2022 The Palmetto Bluff Company, L.L.C. All rights reserved.
PA L M E T TO B L U F F. CO M