QUARTERLY SALES UPDATE – 2 02 1 F I R ST Q UA RT E R U P DAT E –
As of this writing, Palmetto Bluff has 217 transactions closed and pending for the year, which equates to $225 million in sales (this includes transactions that will close in 2022). New transactions continue unabated, with Palmetto Bluff Real Estate Company (PBREC) generating 80 new transactions since January 1st. This puts us in the same place we were in at the end of June last year. In January, traditionally a slow month for sales, the PBREC team had 26 new transactions, a Palmetto Bluff record. Inventory of existing homes is at the lowest point since we launched the community, with only six completed homes available today. Typically, we would expect 10% or more of all privately owned properties to be on the resale market at any given time. Currently, resale of homes and homesites community-wide is only 1% of the properties in private hands. The current market environment is truly unprecedented. As a result of such thin inventories of existing homes and homesites for sale, pricing is on the rise across all of Palmetto Bluff. For the first time in the history of Palmetto Bluff, the number of homes both under construction and in the DRB process topped 300 (320 is the current total). To put this into perspective, there are now 752 completed homes within our community. With the current DRB pipeline, we are tracking toward over 1,000 rooftops in the near future. As a result, many of our top builders are at capacity for new construction starts in the near term. If you own a homesite and are thinking of building, please feel free to reach out to us. We are in constant contact with custom builders here and can help you find the right fit for your timing and budget. We can never leave one of these quarterly updates without saying thank you to all of our stakeholders. Your enthusiasm for Palmetto Bluff is contagious, and your love of this incredible place makes serving you a pleasure. We look forward to seeing you around the property. Warm regards, The Palmetto Bluff Real Estate Company
W. BRYAN BYRNE
AMANDA CUTRER
JEFF QUINN
MARTIN ROACHE
TRACY SCHYBERG
JIM STATON