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
PALMETTO BLUFF PROPERTY REPORT MARKET TRENDS
DESIGN REVIEW BOARD
RESALE HOME CLOSINGS 3,000
$2,545
2,500 2,250 2,000
1,250 1,000 750
$2,495
$1,674
1,750 1,500
UPDATE
$2,331
$1,590
$1,505
$1,346
$1,315
$1,200
$1,200
$1,195
2015
2016
2017
$1,411 $1,228 $1,025
$1,014 $900
$990
2013
2014
$1,453
$1,375
$1,334
2018
2019
Homes in Review
$1,893
166
$1,390
500 250 0 2012
Average Price ($ in 000s)
2020
2021
2022
Median Price ($ in 000s)
282
YOY 46% increase in median purchase price
RESALE HOMESITE CLOSINGS 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0
Homes Under Construction
$1,112
$742 $925 $528 $495
$445 $306
$362
$322
$460
$399
$325
$180
$185
2012
2013
$227
$273
$278
2014
2015
2016
Average Price ($ in 000s)
$311
2017
2018
$388
2019
CURRENT ACTIVE RESALE LISTINGS HOMES
HOMESITES
24
28
average list price
$3.549M
$1.454M
median list price
$3.245M
$995K
average price per sq ft
$916.02
ACTIVE RESALE MARKET ACCOUNTS FOR 3.6% OF ALL PROPERTY
2020
Median Price ($ in 000s)
YOY 52% increase in median purchase price
active listings
875
$635 $408
$350
2021
Total Completed Homes
2022
PALMETTO BLUFF PROPERTY REPORT BY THE NUMBERS PALMETTO BLUFF REAL ESTATE COMPANY VS. OUTSIDE FIRMS We were involved in 199 of 246 closed/ pending transactions We brought the buyer for 181 of 246 closed/ pending transactions
81 74
% %
The next closest firm had only 19 of 246 (7%).
RESALE CLOSE PRICE TO LIST PRICE PALMETTO BLUFF REAL ESTATE COMPANY OUTSIDE PALMETTO BLUFF REAL ESTATE COMPANY
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*
Homesites Closed Year-To-Date 2022 By Selling Company*
50
80
45
72
40
64
35
56
30
48
25
40
48
20
32
15
24
HOMES HOMESITES
10
98% 96%
5
16 12
10
8
5
0
PBREC Company Company Company Private
Q
95% 94%
72
B-O
P
Sale
8 0
7
7
4
3
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.
FEATURED LISTINGS
245 DAVIES ROAD
9 GAME LAND ROAD
5 Bed | 5 Bath, 1 Half-Baths | 4,561 sq. ft. $4,995,000
River Road | Village Homesite | 0.64 acres $669,000
Q3 CLOSING HIGHLIGHTS
46 GAME LAND ROAD
356 WATERFOWL ROAD
Listed and sold by Palmetto Bluff Real Estate Company On the market for just six days | Purchased for 100% of list price CLOSE PRICE: $2,495,000
Listed and sold by Palmetto Bluff Real Estate Company On the market for 20 days | Purchased for 100% of list price CLOSE PRICE: $1,195,000
E X C L U S I V E LY F O C U S E D O N PA L M E T T O B L U F F R E A L E S T AT E F O R O V E R 2 1 Y E A R S .
MORE THAN A
place
...IT’S A
calling
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.
W E W ELCOME YOUR V ISIT. OUR D O OR IS A LWAYS 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