QUARTERLY SALES UPDATE – 2 02 1 S ECO N D Q UA RT E R U P DAT E –
It is an incredible time to be a Palmetto Bluff homeowner. Those of us who have been here since the early years are really noticing the growth. We just wrapped our Fourth of July festivities and what a difference since the first Fourth of July golf cart parade in 2005. It featured just six carts, most driven by employees, while this year’s extravaganza included 70+ carts and well over 150 participants. We’ve come a long way together. The growth is everywhere. As of this writing, there are 337 homes either under construction or in the design review approval process, and 772 completed homes within the community. When you drive around Palmetto Bluff, you can view firsthand the unbounded momentum of home building efforts and the impressive new architecture taking shape. Sales within Palmetto Bluff have been at historic levels. Our pipeline of closed and pending transactions stands at $327M and 310 properties. Although some of these properties are presales of new homes which won’t close until next year, if you compare the sheer magnitude of the current pipeline of closed and pending properties to the total closings for all of 2020 (319 closings for $257M), we are certainly off to an unprecedented start for this year. Property values are up across the board. The median resale home closing value for 2020 was $1.39M, while the current median for closed and pending resale homes is $1.69M, a sizeable 22% increase YOY. Resale homesites are also seeing a large increase in value, jumping from a median resale home closing in 2020 of $408K to a current median value for resale homesites closed and pending for the year of $647K, a 59% increase YOY. Limited inventories of existing properties for sale and an extensive pool of potential buyers waiting in the wings have driven values to new heights in virtually every segment. As of this writing, there were only six existing resale homes and one resale homesite on the market in all of Palmetto Bluff. It has never been a better time to be a seller. If you are considering selling, please give us a call for a complimentary assessment of the value of your land or home. Palmetto Bluff Real Estate Company continues to be the #1 firm for sales of properties within this community. Thank you for your unwavering support of this incredible place. We look forward to seeing you around soon. Warm regards, The Palmetto Bluff Real Estate Company
W. BRYAN BYRNE
AMANDA CUTRER
JEFF QUINN
MARTIN ROACHE
TRACY SCHYBERG
JIM STATON