PALMETTO BLUFF PROPERTY REPORT
total homes closed & pending
132 for $249M
2 0 2 2
M I D Y E A R
A T
A
G L A N C E
– 2 02 2 M I DY E A R U P DAT E –
total homesites closed & pending
90 for $74.5M total closed & pending
222 for $323.5M *Numbers reflect community wide closed and pending sales
At the close of the second quarter of 2022, the Palmetto Bluff real estate market continued to see success, with 222 closed and pending sales for a total of $323.5 million. Home and homesite values have also continued to increase yearly. The average resale homesite value has increased 50% YOY, and the average resale home value increased 32% YOY. Additionally, as consumer spending continues to shift from goods to services, Palmetto Bluff remains poised at the forefront with membership in the private Palmetto Bluff Club. This enriched member experience—with access to world-class golf, aquatics and wellness, exquisite dining venues, and more—is more than the chance to enjoy exceptional amenities. It also adds to the growing long-term property values at Palmetto Bluff: many of the original residents here still own property, with several owning multiple properties. Demand for this exclusive lifestyle abounds, with new construction continuing to set records. At the close of June, there were 273 homes under construction and 175 homes in the Design Review Board approval process for a total of 448 homes representing nearly $851 million in residential construction. Palmetto Bluff Real Estate Company is here to help if you’re thinking about buying or selling. As the #1 firm in this community, no other team can offer you the knowledge, service, and experience.
YEAR-TO-DATE COMPARISON 2022
2021
2020
134
193
105
$191.4M
$178.3M
$97.9M
Average Home Purchase Price (Resale and Developer)
$2.21M
$1.82M
$1.61M
Average Homesite Purchase Price (Resale and Developer)
$855K
$545K
$615K
Properties Closed Dollar Volume
DESIGN REVIEW BOARD: MIDYEAR RESULTS Homes in Review 175
Homes Under Construction 273
Total Completed Homes 850
PALMETTO BLUFF PROPERTY REPORT MARKET TRENDS RESALE HOME CLOSINGS ($ PER SQ FT) 1,000
$899
900 800
$751
$722
700 600 500
$557
$840
$888 $771
$746
$572
300 2021 Q3
total closed average purchase price
$691
400 2021 Q2
RESALE MARKET YEAR-TO-DATE
2021 Q4
Average Price
2022 Q1
2022 Q2
% of list
Median Price
average days on market
RESALE HOMESITE CLOSINGS 1,200
average price per sq ft
$1.065M
1,100
$867K
900 850
$896K
800
$751K
750
550
$828K
$562K
$650K
$603K
2021 Q3
2021 Q4
Average Price ($ in 000s)
2022 Q1
2022 Q2
Median Price ($ in 000s)
DEVELOPER HOMESITE CLOSINGS 800
$788K
$771K
$622K
$595K
750 700 650 600 550
$466K $449K
$442K
$392K
$404K
2021 Q2
2021 Q3
450 400 350
$2.658M
$1.065M
$840 97.37%
96.50%
37
36
HOMESITES
30
22
average list price
$3.497M
$1.009M
median list price
$3.195M
$900K
average price per sq ft
$621K
2021 Q2
500
18
HOMES
active listings
950
600
36
ACTIVE RESALE LISTINGS SNAPSHOT
1,050 1,000
650
HOMESITES
$1.182M
1,150
700
HOMES
$450K
300 2021 Q4
Average Price ($ in 000s)
2022 Q1
2022 Q2
Median Price ($ in 000s)
* Developer Homesites have seen a 72% increase in average purchase price YOY.
average days on market
$866 60
84
PALMETTO BLUFF PROPERTY REPORT BY THE NUMBERS PALMETTO BLUFF REAL ESTATE COMPANY VS. OUTSIDE FIRMS We were involved in 185 of 222 closed/ pending transactions We brought the buyer for 169 of 222 closed/ pending transactions
83 76
2022 REAL ESTATE SALES Year-to-date sales of homes and homesites closed by selling company.* Homes Closed Year-To-Date 2022 By Selling Company*
% %
The next closest firm had only 15 of 222 (6%)
RESALE CLOSE PRICE TO LIST PRICE HOMES HOMESITES
40
70
36
63
32
56
28
49
24
42
20
35
16
98.15%
OUTSIDE PALMETTO 95.99% BLUFF REAL ESTATE COMPANY
94.37%
28
31
12
61
21
8
14 10
4
PALMETTO BLUFF REAL ESTATE 98.77% COMPANY
Homesites Closed Year-To-Date 2022 By Selling Company*
7
6
0
7
5
0
PBREC Company Company Company Private
Q
B-O
P
Sale
6
4
2
2
PBREC Company Company Private Company
P
B-O
Sale
Q
*SELLING COMPANY WAS PROCURING CAUSE FOR THE TRANSACTION. CLOSED TRANSACTIONS ONLY. ALL DEVELOPER LOTS AND BUILDER GUILD HOMES ARE INCLUDED IN THE PALMETTO BLUFF REAL ESTATE TRANSACTIONS.
FEATURE LISTINGS
33 JACKFIELD ROAD
188 VINSON ROAD
3 Bed | 3 Bath, 1 Half-Baths | 3,103 sq. ft. $2,550,000
Moreland | Wooded Homesite | 0.76 acres $749,000
233 VINSON ROAD
300 QUAYSIDE VILLAGE LANE
4 Bedroom | 4 Bath, 2 Half-Baths | 3,876 sq. ft. $2,850,000
Moreland | Lake Homesite | 0.27 acres $695,000
THE PALMETTO BLUFF REAL ESTATE COMPANY TEAM EXCLUSIVELY FOCUSED ON PALMETTO BLUFF SALES FOR OVER 21 YEARS
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
19 V I L L A G E P A R K S Q U A R E | B L U F F T O N , S O U T H C A R O L I N A P A L M E T T O B L U F F . C O M | 8 43 .47 4.6 5 0 5 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.