Low Country real estate developments
Bluffton, South Carolina (PRWEB) May 18, 2013
According to the recent US census, Bluffton is one of the fastest growing towns in the Low Country. Bluffton is located on the mainland due west of Hilton Head Island. Considered the birthplace of ‘master-planned communities’, Hilton Head Island began development in the mid 1950’s. When the island became congested with seasonal vacationers, Reed Development began developing gated communities and Bluffton homes. COLLETON RIVER PLANTATION was developed first in 1989.
Stretching across 1,200 acres, this Low Country real estate development has approximately 700 Bluffton homes. Since January 2012, 34 lots were sold at an average price of $136K according to the MLS. Sold lot prices have been as low as $3K and as high as $800K. Nineteen Colleton River Plantation homes sold during the same period at an average of $871K or $191 a square foot. Sold home prices have been as low as $370K and as high as $1.4 million.
BELFAIR was developed next, beginning in 1994. This 1,000 acre gated community has approximately 750 Bluffton homes. Since January 2012, 17 lots have sold at prices as low as $1K and as high as $170K. During the same period, 26 Belfair homes have sold with prices as low as $269K and as high as $755K. The average sold home price was $572K or $154 per square foot.
BERKELEY HALL began development in 1999. Approximately 550 homes comprise this 960 acre Bluffton golf neighborhood. 17 lots were sold since January 2012 from $500 to the highest price of $520K. Twenty eight Bluffton homes were sold here during the same period from as low as $340K up to $1.2 million. The average sold home price was $569K or $164 per square foot.
Other notable Bluffton neighborhoods in the area include Palmetto Bluff, Oldfield and Hampton Lake.
At PALMETTO BLUFF, 158 lots were sold since January 2012 priced from $50K to $1.5M. The average lot price was $288K at this Low Country real estate development. 44 homes were sold during the same time priced from $595K up to $2.9M. The average sold home price was $1.04M or $326 per square foot. Palmetto Bluff leads the way with new home construction. There are currently 66 homes under construction and 44 more waiting on design review approval.
Twenty nine lots were sold at OLDFIELD CLUB averaging $48K. The lowest sold lot price was $5K up to the highest price of $435K. Since January 2012, 18 Oldfield Club homes were sold. The lowest sold home price was $245K and highest $640K. The average sold home price was $416K or $150 per square foot.
At HAMPTON LAKE, 82 lots were sold and 20 Hampton Lake homes. Lot prices were as low as $30K and as high as $179K. The average lot price was $95K. Hampton Lake home prices were as low as $195K and as high as $622K. The average home price was $456K or $182 per square foot. Hampton Lake filed for Chapter 11 Bankruptcy in April 2013 and was also developed by Reed Development.
IN CONCLUSION - SINCE JANUARY 2012:
Palmetto Bluff leads the way with the highest number of homes and lots sold.
Colleton River Plantation has been selling lots 2 to 1 when compared against Berkeley Hall and Belfair.
Oldfield Club and Belfair have the lowest average square foot home price.
Statistical data provided by The Ussery Group
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