Glacier City Real Estate News 4th Quarter 2019

Forty-seventh edition, January 2020

Glacier City Real Estate News 4th Quarter 2019 Property Sales Report Girdwood / Turnagain Arm October 1 - December 31, 2019

!Broker Report 4th Quarter 2019

Celebrating our 12th year of providing this publication! Seven homes, six condos and no vacant land sold in the Girdwood area from October 1st through December 31st, 2019.

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Homes - 507 Crow Creek Road is located on the paved portion of Crow Creek Road just before the bridge. This home has a history having belonged to the Bursiel family for many years (a family who gave and continues to give a great deal to the community). It is nestled in the trees with amazing blueberry bushes and features a vaulted ceiling and large open concept living area on the main level. It also has a detached single carport. 136 Danish Circle is another older Girdwood home with character. The home shows great pride of ownership and craftsmanship. Light and bright with lots of sunlight, it has an attached solarium and two wood burning stoves, two jetted tubs and a sauna. It is also has a covered side entry and large detached storage building. 178 Donner Drive is a small A-frame property which sold in “as is” condition and included a 192 square foot detached outbuilding which historically has been a rental. Donner is a relatively quiet residential street and considered a good location by most home buyers. 258 Jewel Mine Road is another home with a rich Property Address Girdwood, AK

history including being the spot affording it a very low volume of where Olympic snowboarder Rosie traffic in what is considered a Fletcher grew up! It has vaulted desirable neighborhood by many ceilings and an open concept main local and second homeowners and living area. Recent improvements buyers. These seven homes sold for include a large side deck and a deck an average of 96% of their last on top of the garage. The size of the active list price after an average of lot and the location at the end of 50 days on the market.

Jewel Mine Road give this home privacy with a view of Bear Condos - 170 Powder Drive #5C Mountain and the valley. Located at (Snowbird Condos) This remodeled the top of the loop, 373 Saint condo located very near the lifts sold Johann Loop is a custom log home quickly. The second bedroom is an featuring vaulted tongue and groove open loft. One reason for this would ceilings, natural cherry cabinets and be its history as a nightly rental. 180 granite counter tops. It has a Powder Drive D (Snowbird successful history as a nightly rental. Condos) is in the same association On the exterior it has a wrap-around and has a sauna, jacuzzi tub and deck covered on the sides with a wood bur ning fire place. T he large hot tub in back and to finish it proximity this condo association has off, two storage buildings. 168 Stowe to Chair 4 is a big driver in Circle is a home up the valley in popularity. At this point many of Alyeska Basin off Vail located near these somewhat older condos have the end of the cul-de-sac. The lot is been updated and remodeled. 229 large enough to support a second Taos Road (12 Taos) This 4-unit structure suitable as a stand alone new construction townhouse style garage with mother-in-law apartment. condo association was built by MGJ The property is somewhat unique for Contractors and is located near the this quarter because it was only partially finished. This allows the new owners the ability to finish it to their taste and specifications. 153 Tanner Circle is the largest of the 136 Danish Circle 507 Crow Creek homes to sell this quarter. It is a four story home with spectacular views of Alyeska Resort. It also has a motherin-law apartment. It is towards the end of the cul-de-sac, 258 Jewel Mine 178 Donner Drive

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Last Active List Price

Days on Market

Bed / Bath

Lot / Res SF

507 Crow Creek Road

$439,000

1

2 / 1.5

15,975 / 1,536

136 Danish Circle

$495,000

2

3/3

10,996 / 2,569

178 Donner Drive

$329,000

5

2 / 1.5

10,011 / 633

258 Jewel Mine Road

$599,000

42

3 / 1.5

55,539 / 1,800

373 Saint Johann Loop

$615,000

46

3/2

15,403 / 1,800

168 Stowe Circle

$579,500

90

4 / 2.5

18,600 / 1,982

153 Tanner Circle

$767,000

162

7/5

11,326 / 4,861

170 Powder Drive #5C

$394,000

1

2/2

Condo / 964

180 Powder Drive #D

$389,900

19

2/2

Condo / 964

229 Taos Road #1,2,3,4

$639,000

83

2 / 2.5

Condo / 1,825

373 St. Johann

168 Stowe Circle

153 Tanner Circle

170 Powder Dr. #5C

180 Powder Drive #D

229 Taos Road

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 end of Taos Road. All four units closed just prior to the end of 2019.

They feature a moder n and utilitarian feel with daylight basements, a tuck under one car heated garage, metallic exteriors, a large open second floor with the kitchen, breakfast bar, living room, pantry and a half bath. On the third floor you will find the second bedroom, utility closet, a full common bath and the master suite.

Tastefully done with in-floor radiant heat, most have their own custom finishes. At over 2,000 square feet they have considerable living space and amenities. These six condos sold for an average of 100% of their original list price in an average of *57 days. *Keep in mind that it is typical for new construction to have longer days on market. At initial offering most Buyers take a “wait and see approach” until the first unit sells and the Builder breaks ground.

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Broker Summary - Last year I predicted that 2019 would see strong demand with limited inventory of properties to choose from. The number of sales of both homes and condos was exactly the same in 2018 and 2019. The most notable difference is that the average sales price of residential properties rose from $415,977 to $544,707 in 2019, an increase of almost 31%. The average condo sale in 2018 was $328,263 vs. $382,976 in 2019. An increase of 16.6%. Vacant land sales were up this year from a total of 8 in 2018 and to 14 in 2019. The average sales price of a lot dropped slightly from $199,250 in 2018 to $189,429 in 2019. Keep in mind that lots can vary considerably in size and

construction costs, both of which impact price.

Part of my optimism on the market continuing on its upward trajectory is based on four facts.

First, Girdwood is a reflection of Anchorage right now. We have very little available vacant land inventory to build on. Secondly, many folks are wondering whether the departure of British Petroleum (BP) from Alaska will impact the market.

When you consider the number of BP employees that are actually leaving Alaska (some are being hired

by Hilcorp and some are retiring here in Alaska), the likelihood that we will suddenly see a notable increase in inventory seems to me to be very unlikely.

Third, the fact that Alyeska Resor t is building a new 20,000 square foot Nordic Spa up by the tramway should bolster confidence in the sustainability of the ski mountain and tourism in Girdwood. Fourth and finally, interest rates will also be low for at least another year. So at the risk of sounding repetitive I have the same prediction for 2020 that I did for 2019. Low inventory and increasingly higher sales prices.

call. We would be happy to help you understand the current market, guiding and assisting you through the process of selling your home.

I can be reached by phone or text at 907-227-4626 or at samdaniel@glaciercityrealty.com.

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If you are curious what your home is worth, whether it’s in Girdwood, Anchorage, or Eagle River, give us a

This sales report is based on information from Alaska MLS, Inc. for 10/1/2019 - 12/31/2019 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. 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.