PALMETTO BLUFF PROPERTY REPORT – 2 02 3 Y E A R - E N D U P DAT E –
G L A N C E
total homes closed
2 0 2 3
Y E A R - E N D
A T
151 for $300.5M
A
total closed
103 for $255.2M total homesites closed
48 for $45.3M
In 2023, Palmetto Bluff closed 151 community-wide transactions for $300.5 million. We attracted interest from a diverse range of new prospective buyers from as far away as South Dakota and Dubai and as close as neighboring Savannah. These numbers and interests speak to the Bluff’s thriving lifestyle, ever-evolving growth, and Palmetto Bluff Real Estate Company’s market reach. 2023 MARKET INSIGHTS:
• • • •
Palmetto Bluff saw a 13.5% increase in the average home purchase price in 2023 compared to the previous year and a slight rise of 2.5% in homesite purchase price. Historically, 70% of buyers at Palmetto Bluff purchase a homesite and build, which 30% chose to purchase an existing or new home. 2023 was the inverse with 70% of buyers selecting a new or existing home. Palmetto Bluff surpassed 1,000 completed homes in 2023. There are 37 pending transactions already in the pipeline to close in 2024.
In 2023, Palmetto Bluff Real Estate Company outperformed our closest competitor by three times in terms of bringing buyers, with our listings selling 5% closer to the asking price. Our dedicated onsite office in Wilson Village solely serves Palmetto Bluff, and over the past five years, we have represented over $1 billion in sales. Our team takes seriously our responsibility of educating prospective homeowners on evolving development, Club membership, and real estate opportunities and keeping our residents informed on current demand, property values, and sales transactions. We are the only real estate team with the necessary knowledge to do so. Please contact us or visit our office to learn more.
YEAR-TO-DATE COMPARISON PALMETTO BLUFF REAL ESTATE COMPANY was involved in
Properties Closed
2019
2020
2021
2022
2023
197
319
372
205
151
99 transactions for $ 170 M
Dollar Volume
$152M
$257M
$391M
$315M
$300.5M
Average Home Purchase Price (Resale and Developer)
$1.35M
$1.54M
$2.15M
$2.19M
$2.48M
in dollar volume.
Average Homesite Purchase Price (Resale and Developer)
$424K
$487K
$574K
$921K
$944K
* These numbers reflect 01/01/23 – 12/31/23.