Glacier City Real Estate News 3rd Quarter 2018

Forty-sixth edition, October 2019

Glacier City Real Estate News 3rd Quarter 2019 Property Sales Report Girdwood / Turnagain Arm July 1 - September 30, 2019

!The Brokers Summary - Six homes,

six condos and three vacant land sales took place the third quarter of 2019 from July 1st - September 30th through the Alaska Multiple Listing Service.

Homes - 321 Brighton Road has l o c a t i o n a n d a m o t h e r- i n - l a w apartment downstairs going for it.

This is a smaller and more vintage home but because of its proximity to Mt Alyeska and the mother-in-law apartment it has great appeal to second home owners from Anchorage. 273 Davos Road recently belonged to a long time Girdwood resident. The most recent Seller had extensively remodeled the property and updated the finishes. The house is in a great location and for many would be walking distance to the mountain. It sold turnkey furnished and had been recently used as a nightly rental. 357 Saint Johann Loop is a nicely appointed log home with vaulted ceilings, hardwood floors and an open kitchen living room area. It also features a full downstairs apartment suitable as a long term or nightly rental. 355 Sproat Road is a cute cabin on a nice lot located off the Mine roads. Features include a recently remodeled bathroom, new flooring, interior/exterior paint and newer appliances. A storage building was included in the sale. The fact that this home at 500 square feet sold for over $300K tells you something about the

!

Property Address Girdwood, AK

Last Active List Price

Girdwood market. 689 Vail Drive is a custom new construction home built

by Alexander Homes. With upgraded finishes, garage, in-floor radiant heat and more it is a great example of what we are currently seeing for new construction in Girdwood with a price point well above where things were as little as three years ago. The times they are a changing! Located in Bird Creek, 353 Konikson Road, located in Bird Creek, is a larger custom new construction home. Lot sizes are typically a minimum of 2.5 acres and this well- built home has that. The great finishes and tons of windows give this home appeal. *Bird Creek really is a slice of paradise with a great community, much less rain than Girdwood and only a 15 minute drive to Girdwood or 25 minute drive to Anchorage. These six home sold for an average of 99% of their last active list price after an average of 87 days on the market. Keep in mind that some may have sold in 1 day while another might have been on market for over a year.

!

Condos - 282 Crystal Mountain Road #110 (Alyeska South Brighton) This studio condo, located at the base of the mountain and in proximity to everything from The Bake Shop to the Sitzmark, is just the type of property second home owners that are in love with the mountain enjoy.

It is a nice place to base out of but with a small footprint. 244 Days on Market

Bed / Bath

Lot / Res SF

321 Brighton Road

$495,000

1

4 / 2.5

12,500 / 1,611

273 Davos Road

$498,000

31

2 / 1.5

12,270 / 1,403

357 Saint Johann Loop

$699,000

4

4 / 2.5

15,001 / 2,680

355 Sproat Road

$320,000

84

1 / .75

11,460 / 500

689 Vail Drive

$774,865

0

5 / 3.5

15,797 / 3,157

353 Konikson Road, Indian

$749,000

407

4 / 3.5

108,900 / 3,402

282 Crystal Mountain Rd., #110

$210,000

8

0/1

Condo / 520

244 Olympic Mountain Loop #310

$210,000

8

0/1

Condo / 520

125 White Pass Lane #808

$185,000

3

0/1

Condo / 415

301 Crystal Mountain Road #A-1

$259,000

2

1/1

Condo / 638

330 Hightower Road #B-101

$340,000

3

2/2

Condo / 986

314 Crystal Mountain Rd., #304

$410,000

5

2/2

Condo / 1,009

Olympic Mountain Loop #310 (Alyeska South Olympic) located directly across the street from Jack Sprat, this studio condo location is enjoyed for the same reason as the one in the Brighton building. These older “compass” condos, East, West, North and South (Brighton and Olympic) are the nucleus of the mountain base condos and within easy walking distance to Chair 3. 125 White Pass Lane #808 (Alyeska West) When it rains it pours and this unit was priced slightly lower than the other two probably because of having less living space. 301 Crystal Mountain Road A1 - (Ascent II) This is one of my favorite condo developments located just off Crystal Mountain Road at the base of Chair 3. Originally built back i n t h e d ay by E E C C Q u a l i t y Construction these one bedroom units have a desirable open concept design that in many ways is timeless. The

321 Brighton Road

273 Davos Road

357 Saint Johann

355 Sproat Road

689 Vail Drive

353 Konikson Road

301 Crystal Mtn #110

244 Olympic Mtn #310

125 White Pass #808

301 Crystal Mtn A1

330 Hightower B101

314 Crystal Mtn #304

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 three buildings that comprise the association have covered decks and walkways, a tucked away parking area and great access to the mountain while still feeling relatively private. This is also one of the associations which has elected to not allow nightly rentals, long term only, which some owners find desirable. 330 Hightower Road B101 (Snow Raven) This two bedroom ground floor unit is nice because you have ground floor direct access to your unit. These condos just keep getting more and more popular each year because of their welldesigned floor plan, heated ground floor garage space and a private storage closet on the same level as the condo. Another of desirable design feature includes having the bedrooms on opposite sides of the condo with the living room in between. Many folks also enjoy being on the bike path with easy access to the Grind, Mercantile, Post Office, Chair 5, Spoonline and the Girdwood Picnic Club. 314 Crystal Mountain Road #304 (Timberline) was a FSBO listed in MLS with a licensed real estate professional representing a Buyer in the sale. Timberline is pretty much the flagship of the older condos due to its reputation as being quiet and peaceful. It just has a great vibe. The individual units have a great floor plan.

It has a master bath, and some of the two bedroom units come with a dedicated tuck under garage space.

Each unit does have a common area storage unit in a dedicated space on the ground level off the parking garage stalls. These six condos sold for an average of 101% of their last active sales price in an average of 8 days on market.

!Vacant

Land - 351 Echo Ridge Drive is located up off Alpine Meadows in the nose bleed section of Girdwood. These lots are typically more challenging to build on but have some of the most spectacular views in the valley. This particular lot came

with the foundation piles driven, driveway, electric, water and sewer to the site. Lot 12 Block 25 Timberline Drive is a slightly larger than average lot that could qualify for duplex construction of two separate homes.

Timberline Drive is the major thoroughfare in Alyeska Basin and has seen a number of new homes go up in recent years. Lot 9 Saint Moritz Drive is another lot large enough to hold a duplex. There just isn’t much vacant land available in Girdwood.

The sample here is too small to generate any meaningful statistics.

Market times are typically longer for vacant land and sales are primarily for cash.

!Broker Summary - With the future

of Alyeska Resort looking promising and with projects such as the proposed Nordic Spa planned to be located adjacent the tramway, Girdwood’s real estate future looks promising. Home prices are trending ever upwards and it is fairly typical for a number of condos to change hands prior to the ski season. Vacant land will always be in demand as long as there is such a limited inventory of existing homes and condos to choose from. Interest rates are at a new all time low as well, giving Buyers added purchasing power. Regardless of what is happening with the state economy and the price of oil, Girdwood remains the winter playground for locals and a major tourist destination in the summer.

!T r e n d i n g

along with these developments, we see many second home owners interested in purchasing properties that lend themselves to nightly rentals, thereby helping to cover some or all of their holding costs. The Girdwood Board of Supervisors, under the auspices of the Land Use Committee, is currently investigating the need for more long term rentals and affordable housing in the community as well as the impact

373 Saint Johann Loop, Girdwood 3 beds / 2 baths / 1,800 s.f.

MLS #19-15743 Offered at $629,500 Take a look at this stunning log home featuring a large second floor master suite and gorgeous kitchen with granite counters, stainless appliances and cherry cabinetry. Enjoy the beautiful outdoor space with hot tub!

nightly rentals are having on local neighborhoods. One of the things I love about this business is the way it is constantly changing. Glacier City Re a l t y ( G C R ) h a s s e r ve d t h e community of Girdwood since 1996 and we have witnessed changes in Girdwood and Anchorage. Over the years, GCR has sold everything from million dollar destination resorts, to remote properties in Saint Mary’s and Kodiak, not to mention conducting regular sales in the greater Anchorage area. Our services and work ethic are second to none and we welcome your phone calls and inquires on all things related to real estate in the Four Valleys area along Turnagain Arm including Anchorage. We are a part of Girdwood and appreciate your business as well as the opportunity to provide you with this newsletter, now in its 46th edition. That’s over eleven and a half years folks!

Contact Sam Daniel at samdaniel@glaciercityrealty.com or 907-227-4626 for all your real estate needs.

This sales report is based on information from Alaska MLS, Inc. for 7/1/2019 - 9/30/2019 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.