“So, how’s the real estate market in Palmetto Bluff?” This question has been posed with increasing frequency since interest rates began to climb back in the spring. While no one can predict the future, what we do know is that Palmetto Bluff’s reputation as an oasis offering world-class Lowcountry living will always draw potential homebuyers.
Whether you’re interested in buying or selling, you might be wondering how much homes are currently going for in Palmetto Bluff. To help you gain a better understanding of current market conditions, we’re sharing a snapshot of the Ussery Group’s performance for the first half of 2022. Keep reading to learn more about current sales prices for homes in Palmetto Bluff.
Quarter 1 and Quarter 2 Summary
The Ussery Group has a combined 50 years of experience in Palmetto Bluff under our belt—which means we’ve helped buyers and sellers accomplish their real estate goals during a wide variety of market conditions. For reference, the Ussery Group’s closed and pending sales volume in Palmetto Bluff for the first half of the year was over $81 million dollars.
“As one of the original members of the Palmetto Bluff real estate team and the longest serving member of that team, few if any know Palmetto Bluff and Palmetto Bluff real estate as well as Keene Reese. We surely benefitted from his depth of knowledge and excellent relationships when we purchased and developed our Palmetto Bluff homesite. Keene’s wonderful personality and superior character added to our very favorable experience. We certainly intend to involve Keene in our next Low Country transaction.” -Melanie and Lyles Glenn
By the Numbers – Q2 of 2022
During the second quarter of 2022, the range of sales prices for resale homes started at $1,185,000, and the highest was $4,875,000. The average purchase price for a resale home in Palmetto Bluff was $2,599,416. Resale homes were on the market for a median of 13 days in the quarter, with a total of 44 resale properties – homes and homesites – closed or pending by the end of the quarter.
Current Market Conditions
Perhaps the best way to gain an understanding of current market conditions in Palmetto Bluff is to evaluate recent transactions and available properties represented by the Ussery Group. Let’s take a look at a few of those now.
249 Waterfowl Rd. – Sold for $2,185,000
Located on the inland water trail, 249 Waterfowl Rd. is a gorgeous two bedroom carriage house, with separate additional apartment over the garage and room to build a main house with expansive views. At the Ussery Group, we build our sales strategy around a proven marketing system and through our extensive relationships. In this instance we worked with both the buyer and seller to achieve their goals.
364 Waterfowl Rd. – Currently for Sale
Located on over an acre of land along the freshwater trail, 364 Waterfowl Road is a spacious 4 bedroom home. From the screened porch with fireplace to the expansive wine room and wet bar, this home is ideal for entertaining. White oak floors, a primary master with fabulous views, fenced outdoor living space, and room in the garage for a trailered boat make it a home for the outdoors-minded family. This 6,176 square foot home is listed at $7,825,000.
125 Game Land Rd. – Currently Under Contract
Situated on a corner homesite in Palmetto Bluff’s River Road neighborhood, 125 Game Land Road was marketed for $2,499,000. The floor plan of this charming five bedroom home boasts an open great room with spacious kitchen. The master bedroom, two additional ensuite bedrooms, and a separate dining room/den area are all located on the first level. With fabulous flow for entertaining, a large rear screened porch, and a great location near ample amenities, it’s no surprise that this 3,758 square foot home is currently under contract.
As a group, we have continued to post strong quarters in Palmetto Bluff throughout a myriad of changing circumstances. Based on current trends, we anticipate an increase in average days on the market when compared to the pandemic-driven boom of 2021; however, average purchase prices for resale homes continue to reflect the enduring value associated with life in Palmetto Bluff.
With a commitment to putting our clients’ needs first and a deep connection to the Palmetto Bluff community, our team of professionals is here to help you. Please contact us today at 843-815-8637 for a custom home valuation, to request personalized listings, or to learn more about what it looks like to take the next step with the Ussery Group as your Palmetto Bluff realtor. To receive exclusive Palmetto Bluff listings in your inbox before they even hit the market, join us here.