QUARTERLY SALES UPDATE – 2 02 0 E N D O F Y E A R U P DAT E –
Happy New Year! We thought 2021 would never arrive. After the many curveballs that 2020 threw us, we are happy to report that the real estate market at Palmetto Bluff has remained strong. In fact, all previously held real estate records were broken in 2020. Community-wide, we saw 319 closed transactions for $257 million. This represents a 66% increase from our best dollar volume year ever (2006 with $155 million) and a 57% increase from the record unit closing year (2006 with 203 closings). With all the headwinds we had in 2020, these are exceptional results and proof positive that our community model has wide market acceptance. So, how did Palmetto Bluff’s success in 2020 compare to the local market? We looked at several metrics from the Hilton Head Island MLS, and here are a few of the highlights: • Palmetto Bluff had an almost 50% market share for $1 million+ homesite closings in 2020 compared to all of Hilton Head Island MLS. • We had an incredible 100% and 94% market share respectively of $1 million+ and $500K+ homesites closings compared to the mainland golf-centric communities (Berkeley Hall, Belfair, Colleton River, and Spring Island). • Conversely, when looking at all homesite closings under $250k, Palmetto Bluff represented only 12% of the entire market. • For home closings over $2 million, Palmetto Bluff had a market share of 15% compared to the entire Hilton Head Island MLS, and a whopping 77% and 61% share respectively of the $2 million+ and $1 million+ home closings for the mainland communities referenced above. Beyond real estate sales, we are also seeing the strongest demand on record for custom home construction. As of this writing, there were 286 homes either under construction or in the design review process, in addition to the 741 homes already completed. Interest in our Builder Guild homes has been incredible, with 76 new sales in 2020 all being sold prior to completion and most prior to construction beginning. Demand for new homes is at unprecedented levels. One of the biggest drivers of long-term value for all properties in Palmetto Bluff is the level of inventory available on the resale market. With fewer properties to choose from, the values of all properties will continue to rise. In a mature community like Palmetto Bluff, it would not be unusual to see 10-15% of the privately owned properties listed for resale. We now have less than 2% of properties on the resale market today. These are numbers you might have seen in the initial two to three years of Palmetto Bluff’s existence. Such low levels of resale inventory represent an unprecedented opportunity for price appreciation and forward momentum for the sale of new properties, and we look forward to continuing to generate the lion’s share of buyers for properties in the community in 2021. It is clear that our vision to create a real place and not a typical project has added value for Palmetto Bluff, far exceeding anything in the local market. Our focus on the quality of the built and unbuilt environments, our commitment to sustainability and life-long learning, and our dedication to creating an authentic environment continues to pay dividends. Thank you for your continued support. We look forward to seeing you in 2021. Warm regards, The Palmetto Bluff Real Estate Company
W. BRYAN BYRNE
AMANDA CUTRER
JEFF QUINN
MARTIN ROACHE
TRACY SCHYBERG
JIM STATON
257M
$
741
IN SALES IN 2020
COMPLETED HOMES
275
254M
HOMES UNDER CONSTRUCTION
MEDIA IMPRESSIONS IN 2020
946,505
1560 TOURS IN 2020
WEBSITE
VISITS
2020 REAL ESTATE SALES Year-to-date sales of homes and homesites closed and pending by Palmetto Bluff Real Estate Company. Homes Closed Year-To-Date 2020 By Selling Company*
Homesites Closed Year-To-Date 2020 By Selling Company*
50
140
45
126
40
112
35
98
30
84
25 20
70
45
15
42
28
10
18
5 0
Palmetto Bluff Real Estate
133
56 28 12
7
0 Company
Q
Company
C-P
Company
B
Private Sale
40
14 Palmetto Bluff Real Estate
Company
B-O
21 Company
Q
*SELLING COMPANY WAS PROCURING CAUSE FOR THE TRANSACTION.
9 Company
P
6 Private Sales
FEATURED LISTINGS
10 HUNTING LODGE ROAD River Road Neighborhood | Village | 5 Bedroom | 5 Bath, 1 Half-Baths | 3,542 sq. ft. | $1,595,000 Known as the Garden District of Palmetto Bluff, This five-bedroom, five-bathroom home offers a welcoming courtyard that leads future owners and guests to a warm entry. The kitchen features a large island with seating, granite countertops, GE and Viking appliances, and overlooks the screened-in porch and family room boasting beautiful bleached wood flooring throughout.
EXPLORE
9 HANNAH LANE Marsh Homesite | 0.170 acres | $695,000
4 REFUGE STREET Village Homesite | 0.210 acres | $349,000
VIEW LISTING
VIEW LISTING
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. © 2020 The Palmetto Bluff Company, L.L.C. All rights reserved.
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