Glacier City Real Estate News 1st Quarter 2021

Glacier City Real Estate News Fifty second edition, April 2021 1st Quarter 2021 Property Sales Report Girdwood / Turnagain Arm January 1 - March 31, 2021

Two homes, five condos and two vacant land sales occurred January 1st through March 31st, 2021.

Surprisingly few sales in the first quarter is leading to a very busy spring (2nd quarter) for Girdwood in 2021.

156 Ravenwood Circle is a rustic log cabin located “down valley” (below Hightower Road) on the Beaver Pond side of Alyeska Highway adjacent to Heritage Land Bank (HLB) undeveloped property. The kitchen has recently been remodeled with granite countertops and custom hardwood cherry cabinets. There are great views of Max’s Mountain from this home.

524 Timberline Drive features an open floor plan with vaulted ceilings, huge windows and a gas fireplace. The home is located adjacent an open meadow and also has a large deck.

Additional features include an arctic entry, off kitchen pantry and a bonus room. These two homes sold after an average of 4 days on market for 108% of their last active list price.

Girdwood properties are in high demand and are typically selling for more than list price with multiple offers.

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Condo Sales - 101 Powder Drive #D (Snow Bird Condos) Located at the base of Mount Alyeska adjacent to Chair 4 these condos are always popular. This unit is “vintage” all white with original fixtures, furnace, wood fireplace and more. Many of these units have been remodeled and once remodeled they can really be quite spectacular considering the age Property Address Girdwood, AK

of constr uction. 355 Cr ystal Mountain Road C10 (Cr ystal Village Condos) Located just below Challenge Alaska and Chair 3, these slope side condos have a great floor plan. The majority of the association is set up as duplex style townhomes.

This unit has been partially remodeled upstairs with a new kitchen and dining area. In addition to the two bedrooms, there is also a versatile open loft area on the top floor above the kitchen/ living room area. 150 Hightower Road #102 (Ski View Condos) is located in the New Girdwood Townsite across from the Crow Creek Mercantile within walking distance of the Forest Fair Park, Chair 5, Spoonline and Hightower Pub. This particular basement unit has natural gas heat and a wood fireplace. Ski View condos typically have larger bedrooms than most and represent a great value comparative to purchasing a condo at the base of Mt. Alyeska.

150 Hightower Road #201 (Ski View Condos) located in the same building, is a nicely remodeled unit that includes upgraded windows, a high efficiency gas fireplace insert and an in-unit washer/dryer, which is uncommon for Ski View. 150 Hightower Road #401 (Ski View Condos) is a top floor unit in the same building. This unit has also been remodeled including hardwood floors, tile and new carpet. These five condos sold after an average of five days on market for 97% of their last active list price.

as down valley. This triangular shaped lot will take a bit of “shoe horning” to fit a home on the lot but the result will be amazing views near the New Girdwood Townsite. L4 Rand Avenue is located in the Chugach Park View Estates in Indian. It is great lot in an established subdivision that has already had some clearing done and an approved septic permit. It is one of the few remaining available lots in this subdivision.

!Broker Summary - The first quarter

of the year had very few sales comparative to years past. One interesting phenomena that I have seen repeated in the past is the “did you see that” experience owners go through when they see their neighbors having successful sales. In my opinion that is part of what happened with the Ski View condos this past quarter. One owner sees another have a successful sale for more than what they assumed their property was worth, and this motivates them to sell. This is far more prevalent with condos than homes of course. Market Trends - I attend a Friday morning marketing meeting in Anchorage (over Zoom this past year) which includes about 18 of the top producers in the Southcentral region.

Area wide, in Anchorage, Girdwood and the Mat Su Valley, we are seeing shorter marketing times, more multiple offer situations, greater concessions

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Vacant Land - L1 Hightower Road is a unique lot located adjacent Glacier Creek with unobstructed views of the creek, Mount Alyeska, as well

Last Active List Price

Days on Market

Bed / Bath

Lot / Res SF

156 Ravenwood Circle

$329,000

5

0/1

8,188 / 525

524 Timberline Drive

$495,000

3

2/2

14,952 / 1,452

101 Powder Drive #D

$465,000

4

2/2

Condo / 921

355 Crystal Mountain Road C10

$445,000

1

2/1

Condo / 925

150 Hightower Road #102

$224,500

13

1/1

Condo / 804

150 Hightower Road #201

$302,000

24

2/1

Condo / 1,016

150 Hightower Road #401

$305,000

20

2/1

Condo / 1,016

Lot 1 Hightower Road

$225,000

27

Vacant Land

8,589 / 0

Lot 4 Rand Avenue, Indian

$176,000

308

Vacant Land

100,481 / 0

156 Ravenwood

524 Timberline

101 Powder Dr. #D

355 Crystal Mtn. C10

150 Hightower #102

150 Hightower #201

150 Hightower #401

Glacier City Realty, Inc. 907-783-1910 | info@glaciercityrealty.com

Sam Daniel, Broker 907-227-4626 | Loretta Ortiz-Daniel, Realtor 907-227-4142 Rebecca Reichlin, Associate Broker 907-441-8125 | Jackie Collins, Realtor 907-947-0494

PO Box 550 Girdwood, AK 99587

Girdwood school addition !

September 2014

Glacier City Realty - Honesty and Integrity in everything we do from Buyers and the use of escalator clauses in order for Buyers to get a winning bid. This has also created another substantial backlog in the mortgage, title and appraisal industries.

Currently it takes 3-4 weeks to receive a preliminary title report from any of the local title companies when normally this is about a 10 day process.

As we move into the second quarter in Girdwood, the number of pending sales is rising gradually. This is driven in part by the amazing ski season we have experienced and the influx of Anchorage folks who love to recreate in Girdwood. It is great marketing timing for Sellers that picked up on

this and took advantage! What I will be curious to see is how many owners will decide at the end of the ski season that it is time to sell. Last summer we had a busy summer sales season.

Buyers continued to pay attention to the market where ordinarily they would move on to hiking, biking, rafting and fishing with not that much focus on the Girdwood market. As always, it will be interesting. In talking with the marketing group at the Friday morning meetings, there seems to be a consensus that the market will remain strong in Southcentral through 2021.

Interest rates have gradually risen from as low as 2 to 2.5% to 3.25% presently,

however these are historically amazing rates. One of the things I love about this profession is the constantly changing landscape. Sales in Girdwood this second quarter will be dependent on whether there are many Sellers interested in taking advantage of the current Seller’s market. It has been that way in the past, but never quite like this.

If you are curious about the value of your property, give me a call!

Sam Daniel 907-227-4626 samdaniel@glaciercityrealty.com

Vacation Rental Property Management Services

How often do you use your Girdwood property? Would you like to see some additional income and still be able to use the property when you want? Our property management services Glacier City Realty, Inc. are top notch. We take care of all aspects of managing your vacation rental, from bookings & on site guest support to all the financials. If you are interested and would like to know what your property would rent for, please contact us at 907-783-1910 or info@glaciercityrealty.com

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This sales report is based on information from Alaska MLS, Inc. for 1/1/2021 - 3/31/2021 but not compiled or published by Alaska MLS, Inc. Data maintained by Alaska MLS, Inc. may not reflect all real estate activity. The information used in this publication is copyrighted by Alaska MLS, Inc. 2021 and no portion may be reproduced, redistributed, or retransmitted without the express permission of Alaska MLS, Inc. Further, Alaska MLS, Inc. does not guarantee the accuracy of the information contained herein.