QUARTERLY SALES UPDATE – 2 01 9 FO U RT H Q UA RT E R U P DAT E –
2019 proved to be another record-setting year for the Palmetto Bluff real estate market. Community-wide we closed 197 transactions totaling $152 million in volume (the second highest dollar volume since 2006) versus 177 closed transactions and $148 million in 2018. The 197 closed properties in 2019 included 83 homes (64 resale and 19 developer) and 114 homesites (34 resale and 80 developer). The continued demand for homes in 2019 (58% of closings were homesites and 42% were homes, compared to 61% and 39% in 2018), tells us that buyers are looking to enjoy the community as soon as possible. We can directly attribute this increase to the launch of The Builder Guild Home Collection in the summer of 2019. By the close of 2019, we saw six Builder Guild home closings and anticipate 2020 to be another strong year. Custom home building was also strong. At the end of 2019, we had 674 completed homes within the community and 181 homes under construction and/or in the design review process. 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 in 2020. So how did Palmetto Bluff Real Estate Company (PBREC) contribute to the success of the community in 2019? PBREC generated 62% of the new buyers in 2019 and over 60% of all closings community-wide. Our sales and marketing efforts generated nearly 600 real estate tours last year with 33% of our sales originating from new leads in 2019. This is up 7% year-over-year as we continue to see the buying window shrink. Across the community, we saw a lot of new additions in 2019. We celebrated the opening of a second location for The Paris Market on Boat House Row, new pickleball courts, a Discovery Center and Peter Millar store in the hotel, reimagined spaces in Moreland Village (including the Trailhouse, the Bike Shop, and Boundary Bottle Co.), a full lineup of extraordinary artists as part of our Artist in Residence program, an incredible 13th Music to Your Mouth, and countless other events that brought together homeowners and members of the local community. As we look forward to a prosperous 2020, we want to thank you again for your enthusiasm for this community and your unwavering support for this place. We look forward to seeing you around the Bluff. Warm regards, The Palmetto Bluff Real Estate Company
W. BRYAN BYRNE
AMANDA CUTRER
JEFF QUINN
MARTIN ROACHE
TRACY SCHYBERG