After weathering the shock waves of the COVID-related recession in March, the real estate market in South Carolina is looking up! Prospective homeowners might be wearing masks and making video calls, but they are absolutely looking to rent and buy. Pandemic or not, the factors that make the Lowcountry a popular place to live–like natural views, ocean breezes, and a friendly community–are here to stay.
In this post, we’ll break down our real estate projections for 2021 in the Lowcountry. Let’s talk about some classic South Carolina towns and the directions we think their markets are heading in next year.
Bluffton:
Investing in a home in Bluffton remains an excellent choice for homeowners exploring the Lowcountry. We’ve found that riverfront properties on the May River are still highly sought after. It makes sense: if you’re staying at home more often than usual, where better to do so than on a porch overlooking the winding river?
Commercial real estate is booming in Bluffton, too. That’s driven in part by the rising population: as new folks move to the area, new dining options, bars, and eateries are going to continue to thrive. Two recently opened establishments–the Bluffton Distillery and the River Dog Brewery–are forming a visible part of the commerce wave that is benefiting Bluffton Hills in 2020 and 2021.
Bluffton has seen enormous population growth in the past decade. From 2010 to 2018, the town’s population increased by a whopping 76%. Newcomers move to Bluffton for its small-town charm, lush natural beauty, and range of local amenities. The pandemic, and the economic changes of the past year, are not going to change these factors, so you can expect to see Bluffton’s real estate market grow in the next year.
Hilton Head:
Photo by Aubrey Rose Odom on Unsplash
Not even 2020 can knock Hilton Head off its real estate game. In fact, HHI is more popular than ever: Condé Nast readers chose Hilton Head as 2020’s “Best Island in the U.S.”
Why is Hilton Head such an attractive place to move to? One answer is the beach–nothing beats being just a quick walk away from sun, sand, and sea. Boats and kayaks abound in the driveways of Hilton Head Island. And as more people work from home than ever before, more workers seeking a paradisal office may move their families to Hilton Head.
Summer rentals remain highly popular alongside homeowners seeking a long-term property. The seasonal option helps give Hilton Head its unique charm–we can confidently say that the continued ability to rent is helping to drive and support Hilton Head’s real estate market right now.
Palmetto Bluff:
2021 will be an exciting year of transition for the Palmetto Bluff community real estate market. As in 2020, there will be a high demand for built homes in this classic Lowcountry area. While inventory for newly constructed homes remains low, however, we’ll see a move toward homesites in the short-term. The building boom in Palmetto Bluff will likely continue as well, with new houses going up, especially around the waterfront areas.
Like Bluffton, Palmetto Bluff is seeing a strong influx in population as more and more people seek out a home in the community. This is true even in light of the COVID pandemic–interestingly, as less people move nationwide, Palmetto Bluff continues to be the destination for moving homeowners and those seeking a rental. To many, Palmetto Bluff is an ideal place to work from home, whether temporarily or permanently. It offers space, nature, and a more relaxed alternative to northeastern cities, not to mention a safer environment in terms of population density. If you have the ability to rent short term, you’ll likely continue to see inquiries from families making the move to the Lowcountry–many of them because their jobs are shifting to remote.
Which community is right for you?
Hilton Head, Bluffton, Palmetto Bluffs and more…if you’re considering a move to the Lowcountry, you have options to choose from. The good news is that the real estate market is going to continue to do well in these areas. What might be more difficult is making that decision about which community is the right one for you to move to.
Considering multiple factors–like whether you want a short-term rental or a permanent home, proximity to the beach or waterfront views, and a quick commute or a great WFH office–can all be helpful. And if you want advice on the final choice, feel free to contact us for personalized guidance. We love helping Lowcountry newcomers find the perfect home.