Glacier City Real Estate News 2nd Quarter 2020

Forty-ninth edition, July 2020

Glacier City Real Estate News 2nd Quarter 2020 Property Sales Report Girdwood / Turnagain Arm April 1 - June 30, 2020

!Broker Report 2nd Quarter 2020

Seven homes, four condos and no vacant land sold in the Girdwood area from April 1st through June 30th, 2020.

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Homes - 316 Alpina Way is a nicely finished custom three story chalet in Cabana Land built by the original builder in that subdivision, Mike Kenny. It features custom granite counter tops, stainless appliances, an open main living room and kitchen with breakfast bar and amazing views of Mt. Alyeska. There is a large oversized two car garage and a second side entrance exiting onto a deck with a hot tub. One of the nicest features of the home is a master bedroom suite with huge full bath and a bedroom large enough for lounging. This home typifies what second home owners and locals alike enjoy about Girdwood, chalet style living with amazing panoramic views.

337 Alpine Meadows Avenue is a Cape Cod style home that has lots of amenities. It starts with a very nice arctic entry, kitchen with window seating and custom gas appliances.

Located just off the kitchen, the living room is very large and opens up onto a generous deck with natural gas tied in for grilling. Off these two main rooms you have a bedroom which also works well as an office or Property Address Girdwood, AK

library with a window wall and lots It’s also located on one of the few of built-in bookshelves. Two more paved residential roads in Girdwood. bedrooms are upstairs including the 194 Chateau Place is a FSBO (For master which has a nicely appointed Sale by Owner) that was listed in the complete bath (meaning a tub MLS (Multiple Listing Service). The separate from the shower along with Buyers had a licensed real estate toilet and sinks). Downstairs you will professional represent them in the find a huge two car garage with shop purchase. Having sold it once before space and an adjoining gear/toy I can report that it has been storage area perfect for waxing skis, remodeled since its last sale. This tuning bicycles or storage. There is property features a garage and was also an unfinished downstairs area set up as a nightly rental. 179 Lake with shelving, making this house Tahoe Road is a nicely remodeled superior in every way when it comes home located near the airport. It has to storage. Finishing off the many great features starting with a downstairs is a one bedroom ADU large two bay detached garage. The (Accessory Dwelling Unit) with its home itself has a beautifully own private entrance. Outside you remodeled kitchen with an open will find abundant parking off the floor plan on the main level and a garage along with a well-constructed deck right off the kitchen. Also, it greenhouse with natural gas. This has lots of nice amenities including a home is well constructed with gas fireplace insert, hot tub on the excellent finishes. 134 Barren entry level, remodeled bathrooms, A v e n u e i s r e l a t i v e l y n e w new carpet and interior paint. 928 construction and reflects a more Timberline Drive is a slightly older Scandinavian design with open Girdwood home that features an spaces, floor to ceiling windows, and adjoining bunkhouse with its own Spartan decor with black and white kitchen and bathroom. It is located accents. T his home also features a one bedroom ADU. It comes with all the amenities including oversized bedrooms, a two car garage and an exterior with metal and wood 316 Alpina Way 337 Alpine Meadows accents. Like other homes in the Alpine View Estates Subdivision, (also known as Cabana Land after the developer) it has a great view of Mt. Alyeska and the valley.

Last Active List Price

Days on Market

Bed / Bath

Lot / Res SF

316 Alpina Way

$735,000

0

4 / 2.75

12,312 / 2,793

337 Alpine Meadows Avenue

$809,000

12

4 / 2.5

13,887 / 3,416

134 Barren Avenue

$869,000

1

4/3

12,491 / 2,478

194 Chateau Place

$455,000

0

3 / 1.75

14,503 / 1,569

179 Lake Tahoe Road

$564,000

3

3 / 2.75

11,773 / 1,719

928 Timberline Drive

$625,000

0

4/3

10,132 / 1,824

324 Powerline Road, Bird Creek

$369,999

120

2 / 1.5

49,025 / 1,324

190 Snowy Court A-4

$598,500

2

3/ 2

Condo / 1,668

190 Snowy Court B-1

$615,000

0

3/2

Condo / 1,850

190 Snowy Court B-3

$615,000

243

3/2

Condo / 1,961

303 Crystal Mtn. Rd. #B3

$263,500

27

1/1

Condo / 659

134 Barren Avenue

194 Chateau Place

179 Lake Tahoe

928 Timberline

324 Powerline

Snow Ridge Condos

303 Crystal Mtn #B-3

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 on a corner lot giving it some additional appeal. 324 Powerline Road, located in Bird Creek, is a custom log home with two additional cabins and a large storage shed on the property. It also has a large south facing deck. Bird Creek and Indian lot sizes are typically a minimum of an acre and often feature an ADU unit of some type. The area is somewhat similar to Girdwood with fewer people and less precipitation. These seven homes sold for an average of 99% of their last active list price. Days on market are skewed due to the Bird Creek listing taking 120 days to sell.

Looking at just the average days on market for Girdwood properties the average market time was 2.5 days from the time they listed to the time they sold (pended).

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Condos - 190 Snowy Court A-4, B-1 and B-3 are all located in the Snow Ridge condo association. In all the years we have been providing this newsletter, I can’t remember a quarter in which three out of four condo sales were in the same association. Of these three condos, two had older remodels and one was mostly vintage. These condos were originally owned by several well-known Anchorag e families. They mostly sold through word of mouth for many years and the association pretty much flew by the seat of their pants. If an improvement needed to be made everyone got out their checkbook and paid for it. Over time, as children grew up, mom and dad got older and the units began to change hands, the association developed a budget with reserves. Today, it is still one of the most sought after and desirable “on mountain” condo associations in Girdwood. The original builder was Ralph Brodin of EECC Quality construction. The open floor plans are well thought out, with mountain facing views. Many of them have been remodeled with enlarged kitchens,

decks and hot tubs over the one car garage. 303 Crystal Mountain Road #B-3 (Ascent Phase II) is a one bedroom townhouse style condo located close to the base of Chair 3 (Bear Cub Quad). The Ascent Phase II association is one of the few that prohibit rentals of 30 days or less.

These four condos sold for an average of 99% of their last active list price with an average of 68 days on market. Two of four condos sold in less than two days.

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Broker’s Summary - In years past Girdwood’s real estate market thrived in the winter and often slowed down in the summer. This year the market is strong and prices are climbing and have been for the past several years.

One of the recent drivers of this is the COVID-19 pandemic. It brought about two drivers in the market.

Typically we see spring sales start in March and grow. This year everyone took a wait and see approach until the “hunker down” order was over. Once this happened, Sellers who were waiting came on line. At the same time interest rates dropped in parallel with the decline in the stock market. This held especially true in Anchorage.

City wide, we have about 20% less inventory than we did a year ago at this time and sales are actually slightly higher than they were year to date in 2019. How long will it last? In Girdwood, I think the answer is fairly simple. There is so much pent up demand for inventory that it is highly unlikely we will reach a balanced market. My Personal Perspective on the Girdwood Market - The third and final driver (in my professional opinion) is a new phenomenon I think we will start to see play out all over the country. Between the COVID-19 pandemic and the national political unrest, many people are going to want to flee the city and suburbia for life in the country. Girdwood personifies this. Where else do you get the sense

of community, living in the great outdoors and the caring we get here?

Heck, social distancing is part of the fabric of our lives as Alaskans.

Regardless of what happens with the state economy and the unrest in our nation we will to some extent enjoy a quality of life others only dream of.

We will continue to see people want to move to our little town, not just for the fantastic skiing, snowboarding, hiking, mountain biking and photography, but for so much more.

We, all of us, have made this such a wonderful and spectacular place to live, grow a family and even grow old here. (I have license to say that now).

We will all get through this together because we care deeply for one another and the real estate market in Girdwood is a reflection of what we stand for, life in the Last Frontier.

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

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1560 Medfra Street, Anchorage 4 bed / 3.5 bath / 2,849 s.f.

MLS #20-2345

Offered at $454,500

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This tasteful and modern home includes a one bedroom unit over the garage and a three bedroom main house with unfinished basement.

Each unit has its own private entrance and separate laundry. Call today to set up a showing appointment!

This sales report is based on information from Alaska MLS, Inc. for 4/1/2020 - 6/30/2020 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. 2020 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.