New single-family homes are below development in Beaufort, however the metropolis nonetheless faces a extreme scarcity — significantly items that middle-income staff can afford, based on a long-time actual property dealer.
Pulte Houses, a nationwide builder, has opened two designer-decorated mannequin properties in Salem Bay, a brand new neighborhood providing marshland views and a few dwelling websites with docks.
The event is situated on Salem Farm Highway, about 2 miles from downtown Beaufort.
On the 95-acre Salem Bay, 298 properties are deliberate, ranging in measurement from two to 6 bedrooms with two to 5 baths, all with two-car garages.
The housing improvement is one among two massive subdivisions underway in Beaufort. The opposite is Camellia Banks by Logan Houses off Miller Drive East, the place 50 properties are deliberate.
Mike McFee, an actual property dealer who serves on the Metropolis Council, stated housing stock within the metropolis is extraordinarily low, calling the state of affairs a “fairly unbelievable time really.”
“In my 30 years in actual property,” McFee stated, “I’ve by no means seen this sort of stock scarcity.”
The median value for a median-sized dwelling in Beaufort elevated to $256,000, up from $200,000 a yr in the past, McFee stated.
The upper costs, McFee provides, are “actually hurting our first-time dwelling patrons and those that want “workforce housing.”
“There’s little or no on the market,” McFee stated. “If you will get one thing within the $200,000 vary, now that’s glorious.”
However $200,000 shouldn’t be inexpensive for a lot of residents primarily based on the realm’s median incomes, he added.
Salem Bay homebuyers can select from 9 single-family one- and two-story “trendy open idea” designs starting within the higher $300,000s.
The event’s perimeter will provide water entry, with docks attainable on some websites, Pulte Houses says. Facilities will embody a swimming pool, pickleball courts and a neighborhood dock.
The 2-story Rosella and single-level Prestige, the 2 adorned fashions, are thought-about new ground plans. Each begin within the $400,000s.
Housing stock is so low in Beaufort in comparison with demand, McFee says, that new listings now include provide deadlines, and gives which can be $10,000 to $15,000 above the record value should not unusual.
Housing begins are down nationally, McFee stated, brought on by provide chain points and different elements, which has inflated values and lowered stock.
The Beaufort market has been lively because the starting of the COVID-19 pandemic, McFee stated, when many individuals determined to exit bigger city areas for smaller cities the place they’ll discover a decrease price of dwelling and higher high quality of life.
Now that provide chain points are enhancing, builders are starting to assemble new properties, which ought to assist alleviate demand, McFee stated, however the query is whether or not residents in want of workforce housing will be capable of afford the brand new homes coming in the marketplace.
“The idea of workforce housing is sort of non-existent in Beaufort now,” McFee stated.
Karl Puckett covers town of Beaufort, city of Port Royal and different communities north of the Broad River for The Beaufort Gazette and Island Packet. The Minnesota native additionally has labored at newspapers in his dwelling state, Alaska, Wisconsin and Montana.
