state of the palmetto
home + lot sales
20
bluff market
average sales price
$930,500
$910,000
18
$825,000
$792,107
$607,483
8
5
$340,000
5
3
3
0
2009
2010
4
$255,202
$237,028
$208,333
0
2008
4
$162,180
2
2011
Homes
2012
2013
0
0
2008
2009
HOMES \ \ Following record sales in 2012, Palmetto Bluff fed
that momentum with an even stronger performance in 2013! Sold
homes in our Multiple Listing Service doubled and overall figures
exceeded $55,000,000. The commitment to enhance the allure
of Palmetto Bluff was rewarded by higher average sold values
($932,394.00) and increased demand for developer & re-sale
property. Last year 44 new homes received their certificate of occupancy which beat the previous record of 41 in 2007. Currently
there are 46 new homes in the Design Review process, and 66
homes under construction.
LOTS \ \ 2013 was the year to buy & build! Those remaining
Short Sales & Foreclosures lots were absorbed by future residents of Palmetto Bluff, creating a surge leaving to-date no active
distressed lots available through the MLS. With over 100 un-improved properties closed last year & 83.7% of the market, those
who wished to sell or buy had tremendous opportunity for success.
2013 also saw a rush in The Headwaters with 3 closed transactions, The Point, and South Wilson as high target areas. Riverfront
availability along the May River is dwindling creating demand for
these coveted homesites. Now with the expansion of River Road,
Barge Landing and surrounding areas should be positioned for
2014 growth!
2010
2011
Homes
Lots
average days on market
438
207
207
153
124
140
135
128
56
0
0
2008
2009
2010
2011
Homes
If the close of 2013 is any indicator for a new year, we should
see significant growth in the next 12 months. As Palmetto Bluff
continues to embody the premier destination in Bluffton as the #1
Resort in the United States by Conde Nast Traveler, $100 million
Inn expansion investment, and management by Montage Hotel &
Resorts, we have high hopes for the community. These milestones
should position Palmetto Bluff for significant national interest
while preserving the wellbeing of established residents.
2013
Referencing figures in the MLS, home averages jumped from
$825,000 in 2012 to $910,000 in 2013. : Including ALL Palmetto Bluff sales recorded by Beaufort County (not just MLS transactions), the average sales price climbs even higher to a figure of
$932,394 – an improvement of 13% over the figures in 2012. Lot
sales followed similar (but even more impressive) trend, posting an increase from $162,180 in 2012 to $255,202 in 2013 (a
whopping 57