Glacier City Real Estate News 2nd Quarter 2019

Glacier City Real Estate News Forty-fifth edition, July 2019 2nd Quarter 2019 Property Sales Report Girdwood / Turnagain Arm April 1 - June 30, 2019

The Broker’s Summary - Five homes, four condos and seven vacant land sales took place between April 1st and June 30th, 2019 through the Alaska Multiple Listing Service.

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Home Sales - Located at the corner of Alpina and Timberline, 120 Alpina Way is a custom EECC Quality Construction home built by the now retired home builder, Ralph Brodin. This home features great views of the Girdwood valley and the mountain. It has a well thought out floor plan and a large garage. The home belonged to a Master Gardner so the gardens and grounds reflect that. Sold by the original owner this home would be great for a full time residence or a ski home. 1818 Alyeska Highway is a custom log home with amazing view of Glacier Creek (the Beaver Pond as many locals call it). It features granite countertops, rich solid wood floors, in floor radiant heat, a great family room downstairs and a great set of decks with a hot tub. The lot is large enough to accommodate a detached garage. 450 Arlberg Avenue is very well located at the foot of Mount Alyeska. This home is perfect for a large family with plenty of open living spaces, bedrooms and an Property Address Girdwood, AK

apartment downstairs. This is another great home with a flourishing garden outside. 310 Echo Ridge Drive is a large classic log home with exterior rock finishes and impressive views. This sale was a bit different in that it had been partially remodeled and still had some drywall and finish work to be done in a few of the rooms by the new owners. 497 Timberline Drive is a nicely appointed slightly larger home for Girdwood. It has a two car garage and plenty of parking.

With living on two different levels and a great view of the valley it’s no wonder it sold quickly. These five homes sold for an average of 97.8% of their last active list price after an average of 13 days on market.

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Condo Sales - 282 Cr ystal Mountain Road #S114 (Alyeska South Brighton) was one of those sales that we have talked about in the past where a licensed real estate professional brought a For Sale By Owner Seller, a Buyer, who successfully closed on the property.

This studio condo (no bedroom) is perfect for being slope side within easy walking distance to Chair 3.

Many of these units have been remodeled and updated so that they are very comfortable with most of the amenities of the larger units. 314 Crystal Mountain Road #208 (Timberline) is a one

Last Active List Price

Days on Market

Bed / Bath

Lot / Res SF

120 Alpina Way

$735,000

3

3/2

14,180 / 2,376

1818 Alyeska Highway

$689,900

1

3 / 1.75

34,983 / 2,464

450 Arlberg Avenue

$695,000

56

6/3

12,500 / 4,432

310 Echo Ridge Drive

$750,000

2

3 / 2.75

17,551 / 3,481

497 Timberline Drive

$575,000

4

4/2

10,000 / 1,904

282 Crystal Mountain #S114

$206,950

34

0/1

Condo / 520

314 Crystal Mountain #208

$345,000

1

1/1

Condo / 886

101 Powder Drive #A

$294,500

3

1/ 1

Condo / 689

125 White Pass Lane #706

$276,900

4

1 / .75

Condo / 615

Chugach Park View Estates, Indian, Alaska Lot 14 Rand Avenue, Lot 15 Boretide Road, Lot 18 Reindeer Circle, Lot21 & Lot 4 Rand Avenue, Lot 33 Ledyard Circle

$100,000 $173,000

Ranges from 6-74 days on market

Vacant Land

Lots range from 100,000 s.f. to 144,000 s.f (2.2 3.2 acres)

bedroom unit with an updated kitchen and wood burning fireplace.

Timberline remains one of the most popular associations for apartment style condos. Owners enjoy the quiet atmosphere, tuck under parking on the back of the building, a private storage unit and of course the spa room with a sauna and hot tub as well as a recreation room. 101 Powder Drive #A (Snow Bird) is a one bedroom downstairs unit that is nicely updated. Buyers enjoy the open floor plan and having a small arctic entry plus private storage with the proximity to Chair 4. 125 White Pass Lane #706 (Alyeska West) is another slope side one bedroom unit. This one has been completely remodeled with custom Douglas fir kitchen cabinets, concrete counter tops, stainless appliances, wine fridge and more. These four condos sold for an average of 101.5% of their last active list price after an average of 10.5 days on market.

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Vacant Land Sales - Of the seven lots to sell this quarter, six are located in the Chugach Park View Estates in Indian. Recent price improvements coupled with

120 Alpina Way

1818 Alyeska Hwy.

450 Arlberg Avenue

310 Echo Ridge

282 Crystal Mtn.

314 Crystal Mtn.

101 Powder Drive

125 White Pass Ln.

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

Sam Daniel, Broker 907-227-4626 | Loretta 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 the lack of vacant land in the Girdwood area make Chugach Park View Estates attractive to Buyers who want to build a home on a larger parcel. The subdivision is paved and has gas and electric to each of the lots. These seven lots sold for at least 100% of their last active list price regardless of the number of days on market.

Market Trends - If we compare just residential sales (not condos) in the first half of 2018 with this same time period in 2019 we can clearly see dramatic changes in the market place.

For Girdwood/Turnagain Arm there were 17 active residential listings the first half of 2018 and only 10 this year. Last year there were 15 properties under contract the first half of last year and only 10 so far this year. Total residential sales in 2018 tallied up to 14 and this year so far the total is 13.

Though the number of sales has changed little, the smaller and somewhat less varied inventory we are seeing now has driven up the average sales price from $400,921 to $529,215, an increase of 29% in one year’s time. The less varied inventory I refer to is the fact that we are not seeing the smaller ski chalets and cabins come up for sale as we would typically. Many of the homes that are coming on the market are slightly larger than the typical cabin (900-1200 square feet) versus the 1500 plus square foot homes we are seeing come on now.

Some of these may be FSBO (for sale by owner) and some folks may be waiting to see what happens with the market. In Anchorage and Municipality wide we have what we would consider a balanced market with a one to three month supply

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on hand. Sales are slightly down from where they were a year ago at this time Anchorage wide.

!FSBO - In an economy driven by

scarcity For Sale By Owners become more plentiful. Sellers often believe they can sell their home in a tight inventory market and get a better return on their investment than they could by having it listed with a real estate professional. For some folks it probably does make sense for them to sell their own place. For others that may not be the case. There are positives and negatives to a For Sale by Owner Sale. Besides the usual how do I know the Buyers are qualified and what are the steps to closing issues, there are some other things folks may not be considering. What is the value of their home? We are one of 16 states that have a privacy law on publishing sold data. All warranty deeds in our state transfer for $10.00. The only valid source for sales data is the Alaska Real Estate Multiple Listing Service which licensed real estate professional have access to. For Buyers, the biggest question is how do you know what you are buying? What is the responsibility of the Seller to disclose infor mation, share previous inspection reports when applicable and how do construction code requirements differ in Girdwood as opposed to the rest of the Municipality? Girdwood really is one of those unique places that many aspects of buying and selling are not what they might be in other parts of the state.

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Our brokerage and our Realtors know Girdwood. We have the experience and the expertise you

need whether you are a Buyer or a S e l l e r, c a l l S a m D a n i e l a t 907-227-4626.

Available Listings!

GlacierCityRealty.com!

138 Brenner Circle, Girdwood!

MLS #19-8687!

4 bed / 4 bath !

3,437 s.f. residence / .31 acre lot

191 Gold Claim, Girdwood !

MLS #19-8001!

3 bed / 2.5 bath !

2,784 s.f. residence / .95 acre lot

7720 Lodgepole Court, Anchorage!

MLS #19-9553!

4 bed / 3.5 bath !

5,003 s.f. residence / 1.18 acre lot

This sales report is based on information from Alaska MLS, Inc. for 4/1/2019 - 6/30/2019 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. 2019 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.