PALMETTO BLUFF PROPERTY REPORT – 2 02 3 M I DY E A R U P DAT E –
2 0 2 3
M I D Y E A R
A T
A
G L A N C E
total closed & pending
129 for $255.4M total homes closed & pending
103 for $228.5M total homesites closed & pending
26 for $26.9M Numbers reflect community-wide closed and pending sales
Palmetto Bluff ended the second quarter on a high note with 129 closed and pending transactions community-wide for $255.4 million. Palmetto Bluff Real Estate Company dominated the market, as we brought the buyer for 82 transactions, equating to $154.5 million in dollar volume. Comparatively, the next closest firm brought just 19 buyers. While the number of closed transactions year-to-date is lower compared to 2021 and 2022 (historic years), the average purchase price of Palmetto Bluff homes and homesites has increased significantly. In fact, total sales volume has doubled compared to 2019 and with fewer transactions. Interest in new construction has not waned; 398 homes are either in the construction or Design Review Board approval stages and 977 homes have been completed. Notably, our first built-for-sale enclave, The Grove, was released last month in Moreland Forest and has already attracted its first residents to break ground. As the market leader, Palmetto Bluff Real Estate Company has an advantage in selling your home. We deliver superior results for sellers and it shows. Our home listings sell for 5.4% more than competing firms. We also have a strong pulse on current market conditions and upcoming releases if you’re interested in purchasing a new home. Please reach out to us if you’d like to learn more about our community and future new releases. We are here to help!
MIDYEAR COMPARISON Palmetto Bluff Real Estate Company was involved in
70% of all Closed & Pending Transactions
2019
2020
2021
2022
2023
92
105
193
134
76
Dollar Volume
$78.9M
$97.9M
$178.3M
$191.4M $153.5M
Average Home Purchase Price (Resale and Developer)
$1.42M
$1.47M
$1.82M
$2.21M
$2.40M
Average Homesite Purchase Price (Resale and Developer)
$355K
$615K
$545K
$855K
$1.02M
Properties Closed