PALMETTO BLUFF PROPERTY REPORT

– 2023 FIRST QUARTER UPDATE –

total closed & pending 91 for $171.3M total homes closed & pending 73 for $153M total homesites closed & pending 18 for $18.3M

*Numbers reflect community wide closed and pending sales

For years, buyers have flocked to Charleston to experience the best of Lowcountry living, but the tides are turning, according to the Wall Street Journal, which recently named the Bluffton/ Hilton Head Island area the top US luxury home market. As a result, Palmetto Bluff Real Estate Company and our vibrant community are perfectly positioned to welcome those who want to live in this stunning coastal setting and embrace the exceptional lifestyle found here.

Due to this ongoing desire to move to the Lowcountry, we continue to see strong interest in new construction, with 266 homes under construction at Palmetto Bluff and 154 in the Design Review Board process, representing over $800 million in residential construction. In addition, we’re seeing a steady increase in average home prices, with resale homes at an all-time high of over $3 million and a 21% increase in average purchase price since the end of 2022.

In the first quarter of 2023, Palmetto Bluff had 91 closed and pending transactions communitywide for over $171 million. At Palmetto Bluff Real Estate Company, we brought the buyer for 64 transactions, compared to the next closest firm, which produced just 13 buyers.

At Palmetto Bluff Real Estate Company, we take great pride in leading the local market, introducing the most buyers to available properties, and selling them twice as fast as outside firms while closing on average at a 13% higher price on resale homes. Please let us know how we might best serve your Palmetto Bluff real estate goals.

Palmetto Bluff Real Estate Company was involved in 73% of all Closed & Pending Transactions