PALMETTO BLUFF PROPERTY REPORT – 2 02 3 T H I R D Q UA RT E R U P DAT E –
Y E A R - T O - D A T E
A T
A
G L A N C E
total closed & pending
160 for $320M homes closed & pending
118 for $277M homesites closed & pending
42 for $43M *Numbers reflect community wide closed and pending sales
PALMETTO BLUFF REAL ESTATE COMPANY
Despite a return to a more normal sales pace, there continues to be a strong demand for Palmetto Bluff real estate, as evidenced by 41 closed sales for $76 million communitywide in the third quarter of 2023. Year-to-date, there have been 160 closed and pending transactions community-wide for $320 million. Palmetto Bluff Real Estate Company remains at the forefront, with 109 closed and pending transactions and $190.3 million in sales volume. Also in the third quarter, Palmetto Bluff reached a milestone of exceeding 1,000 homes with an additional 157 homes under review with the Design Review Board and 237 under construction. The eagerly anticipated Crossroads, the new reversible nine-hole golf course by King Collins, will soon be unveiled, further enhancing the diverse amenities already available in Moreland. Additionally, Coore & Crenshaw will begin construction in early 2024 on a much-awaited new 18-hole golf course. As the leader in real estate sales at the Bluff, Palmetto Bluff Real Estate Company takes pride in fostering valuable relationships and helping clients find their ideal vacation or forever home. We possess a deep understanding of Palmetto Bluff and exclusive insider knowledge of upcoming releases and amenity enhancements. Please reach out to us if you would like to learn more.
YEAR-TO-DATE COMPARISON
THIRD QUARTER 2019
2020
2021
2022
2023
130
203
292
176
117
Dollar Volume
$112M
$175M
$282M
$262M
$229.6M
Average Home Purchase Price (Resale and Developer)
$1.43M
$1.57M
$2.0M
$2.2M
$2.4M
Average Homesite Purchase Price (Resale and Developer)
$423K
$507K
$538K
$878K
$995K
homes closed
18 for $38.6M homesites closed
9 for $8.9M
Properties Closed
PALMETTO BLUFF PROPERTY REPORT MARKET TRENDS
DESIGN REVIEW BOARD
RESALE HOME CLOSINGS 3,000
$2.557M $2.646M $2.50M
2,250 $1.674M
1,750 1,250 1,000 750
Homes in Review
$2.390M
2,000 1,500
UPDATE
$2.331M
2,500
$1.505M $1.411M $1.228M
$1.025M
$1.590M $1.346M $1.315M
$1.014M $1.200M $1.200M $1.195M $900K
$990K
2013
2014
$1.453M
$1.893M
157
$1.375M $1.334M $1.390M
500 250 0 2012
2015
2016
2017
Average Price ($ in 000s)
2018
2019
2020
2021
2022
2023
Median Price ($ in 000s)
237
Resale home prices have increased over $1M since 2019
RESALE HOMESITE CLOSINGS 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0
$1.131M
$1.053M
$742K $920K
$850K
$528K $495K
$445K $306K
$180K
$185K
2012
2013
$399K
$362K $325K
$322K
$227K
2014
$273K
$278K
2015
2016
$460K
$350K
$311K
$388K
2017
2018
2019
Average Price ($ in 000s)
$408K
Median Price ($ in 000s)
Average resale homesite purchase price remains over $1M
ACTIVE RESALE LISTINGS SNAPSHOT HOMES
HOMESITES
42
39
Average list price
$3.166M
$1.159M
Median list price
$2.923M
$795K
Active listings
Average price per sq ft
$819
ACTIVE RESALE MARKET ACCOUNTS FOR 5% OF ALL PROPERTY IN PRIVATE HANDS
2021
Total Completed Homes
1,013
$635K
2020
Homes Under Construction
2022
2023
PALMETTO BLUFF PROPERTY REPORT BY THE NUMBERS PALMETTO BLUFF REAL ESTATE COMPANY VS. OUTSIDE FIRMS We brought the buyer for 34 of 43 current pending transactions
79 62
2023 REAL ESTATE SALES Year-to-date sales of homes and homesites closed and pending by selling company.*
%
Homes Closed and Pending By Selling Company*
The next closest firm has brought 5 of 43 (12%).
We brought the buyer for 99 of 160 YTD closed/ pending transactions
%
The next closest firm had only 25 of 160 (15%).
THIRD QUARTER AVERAGE CLOSING PRICE TO LIST PRICE Homes Palmetto Bluff Real Estate Company Outside Real Estate Firm
Homesites
96.2%
98.8%
( 4% higher )
( 10% higher )
92.6%
88.9%
Homesites Closed and Pending By Selling Company*
30
80 70
25
60 20
50 40
15
73
30
26
10
20 10
19
0
5 12
12
2
7
6
0
2
1
PBREC Company Company Company Private
PBREC Company Company Company Private
Sale
Sale
Q
P
B-O
B-O
Q
P
*SELLING COMPANY WAS PROCURING CAUSE FOR THE TRANSACTION. CLOSED AND PENDING TRANSACTIONS. ALL DEVELOPER LOTS AND BUILDER GUILD HOMES ARE INCLUDED IN THE PALMETTO BLUFF REAL ESTATE TRANSACTIONS.
FEATURED LISTINGS
99 Game Land Road $1,995,000
268 Waterfowl Road $3,150,000
119 Hunting Lodge Road $2,195,000
BEDS: 4 | BATHS: 4 | SQ FT: 3,003
BEDS: 5 | BATHS: 5 1/2 | SQ FT: 4,195
BEDS: 4 | BATHS: 4 1/2 | SQ FT: 2,998
20 Gilded Street $3,795,000
12 Hardaway Street $2,895,000
34 Lupine Road $4,750,000
BEDS: 5 | BATHS: 6 1/2 | SQ FT: 5,000
BEDS: 4 | BATHS: 4 1/2 | SQ FT: 3,406
BEDS: 5 | BATHS: 5 1/2 | SQ FT: 4,953
E X C L U S I V E LY F O C U S E D O N PA L M E T T O B L U F F R E A L E S T AT E F O R O V E R 2 2 Y E A R S .
MORE THAN A
place
...IT’S A
calling
We take great pride in representing this magnificent community with our on-property sales office in the heart of Wilson Village and exclusive access to show the Palmetto Bluff Club.
W E W ELCOME YOUR V ISIT. OUR D O OR IS A LWAYS OPEN.
palmettobluff.com | 843.547.9954 19 Village Park Square | Bluffton, South Carolina
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. The complete offering terms are in an offering plan available from sponsor. File no. H-110005