Glacier City Real Estate News 4th Quarter 2021

Glacier City Real Estate News

Fifty third edition, July 20 Ort\ th 4

Quarter Property Sales Report Girdwood / Turnagain Arm October 1- December 31, 2021 Celebrating our 14th year of publishing real estate news for Girdwood and Turnagain Arm!

5 homes, 3 condos, and 4 vacant land sales occurred October 1, 2021, thru December 31st, 2021.

I expect to see increased popularity in Bird Creek and Indian as we see continued out migration from Anchorage.

373 Toadstool Drive sold before it actually went on market and is another older small cabin in the mine road areas, somewhat similar to Agostino Road.

Locals love the mine roads because spring comes early and they typically get more sunlight than up valley year round.

Homes- 134 Loveland Road located just These five properties sold for an below the lower entrance to the day lodge averageof 100.2% of their original parking off Alyeska View Avenue and list price, with an average of 12 Loveland is a duplex property featuring a days on market. total of six bedrooms, two kitchens, and three bathrooms. The finishes have that Girdwood alpine feel. Parking and storage are good as well. It sold furnished which is Condo Sales - 282 Crystal Mountain something we see frequently in the Road 211S (Brighton Condos) Alyeska Girdwood market.

South Brighton Condo is located at the bottom of Crystal Mountain Road on the 220 Gold Claim Drive is located near the right as you head up towards Challenge top of Crow Creek Road in Raven Alaska. This unit had been a long term Mountain Estates. This home is “off grid” rental for many years and was in need of a with awesome views of Girdwood valley. new owner to “give it some love”. Which Homes at this elevation are built to if found promptly. Both of the Alyeska withstand the increased snow fall we see at South Condos (Olympic and Brighton) elevation in the valley. Crow Creek Road, currently tend to attract a lot of younger much like Old Girdwood, is growing in families and enjoy that small town “walk popularity due in part to being more down the hall and say hi to the neighbors affordable than homes in the remainder of vibe.”

Girdwood valley.

316 Arlberg Avenue 1A - (Cedar Creek 145 Agostino Mine Road is a small A Condos ) is located off Olympic Loop and frame loft cabin (no formal bedroom) Arlberg. These units were built starting in located “down valley” in the mine’s road 2001 and are still some of the largest and area. Homes in this area typically have most luxurious of the near mountain three public sewer and are on a private well. bedroom condos. These feature a large master suite on the top floor, decks on 170 Huot Circle is a chalet located in every floor, a custom open concept kitchen Indian valley on a little over an acre lot. All with large island and downdraft range, and homes in Bird and Indian are typically on an oversized one car garage with storage. well and septic. Indian is in the unique These don’t come on market often. position of being 20 minutes from Anchorage by car and 10 minutes to Girdwood.

Property Address Girdwood AK

Last Active List Price

Days on Market

Bed/Bath

Res /Lot Sq foot

134 Loveland Road

$775,000.00

3

6/3

2,514 / 12,500

220 Gold Claim Drive

$379,900.00

3

2 / 1.25

1,338 / 33,680

145 Agostino Mine Road

$339,900.00

1

1/1

455 / 15,828

170 Huot Circle

$489,000.00

53

3 / 1.5

2,160 / 49,545

373 Toadstool Drive

$495,000.00

0

1/2

1,308 / 24,000

282 Crystal Mountain Road 211S 316 Arlberg Avenue 1A #104

$392,500.00

3

2/2

1,075 / Condo

$929,500.00

5

3 / 3.5

2,130 / Condo

1817 Alyeska Highway #2A (Sunrise

$298,000.00

3

1/1

762 / Condo

134 Loveland Road

220 Gold Claim Drive

145 Agostino Mine Road

170 Huot Circle

373 Toadstool Drive

282 Crystal Mountain Road

316 Arlberg Avenue 1A #104

1817 Alyeska Highway #2A

at Alyeska Condos) Glacier City Realty, Inc. • 907-738-1910 • Info@GlacierCityRealty.com

Sam Daniel, Broker 907-227-4626 • Rebecca Reichlin, Associate Broker 907-441-8125 • Loretta Ortiz-Daniel, Realtor 907-227-4142

• Jackieand Collins, Realtor 907-947-0494 • Angela Carswell, Realtor 907-231-6137 • Emily Lewis, Realtor 907-382-0118 I expect Bird Creek Indian to see I I

Street90

PO Box 550 Girdwood, AK 99587

Glacier City Realty- Honesty and Integrity in everything we do Girdwood 2014

1817 Alyeska Highway #2A (Sunrise at Alyeska Condos) is located about halfway down the valley off the Alyeska Highway.

This one-bedroom unit had been remodeled in the last few years; however, it was worn at the time it was sold and will require some time and money from the new owner. It has a nice location adjacent the bike path. This association enjoys some of the best parking of any of the condo associations in Girdwood.

These three condos sold for an average of 100% of their list price after an average of four days on the market.

Vacant Land - L7 & L8 DeEtte Circle are nicely treed lots on a cul-de-sac that is located directly along Alyeska Highway. We have so few vacant lots for sale in Girdwood that both lots sold quickly.

L7 Blk 3 Crow Creek Road is a residential sized lot at 1/3 acre that is located between Crow Creek Road and Crow Creek. Mineral rights were included in the sale. This is only typical on properties that have an established mining claim.

L33 Ledyard Circle is in Indian on Rand Avenue and is part of Chugach Estates.

This 2.6-acre parcel will make a great home site for someone looking for a bit more room to include a detached garage.

These four vacant lots sold for an average of 96.5% of their original list price and averaged 19 days on the market.

Broker Summary comparing 2020 to 2021- The overall number of sales in Girdwood dropped dramatically in 2021

compared to 2020 for both residential and condo sales. In 2020 for both residential and condo sales. In 2020 there were 31 residential MLS sales. In 2021 there were 22 sales, a 29 % decrease. For condos there were 25 sales in 2020 and only 13 this past year, a -48% decrease for 2020 to 2021.

Again, we did not sell as many of the larger more expensive on mountain condos this year as compared to last year. Finally for vacant land we went from only three MLS vacant land sales in 2020 to 14 in 2021.

Private Sales Data - By examining the municipality’s data portal we hope to be able to make an educated guess as to how many private sales there were in 2021.

Holton Hills Subdivision - Heritage Land Bank is working in conjunction with Connie Yoshimira, Broker/Owner of Berkshire Hathaway HomeServices Alaska Realty to develop this project. The development is slated to occur in three phases and will involve both a Conditional Use Permit and a Master Site Plan. This will be the biggest and most complex residential land development project in the history of the Heritage Land Bank and the Municipality.

The public process is just getting underway and there will be a second public meeting to share information and take public testimony in February as plans begin to take shape. The developer is hopeful that permitting could take place as early as June 2022 which means we could see an influx of vacant lots for sale by late summer of this year. To the developer’s credit she is planning on making the initial offering to the public exclusive to Girdwood residents for the first two weeks that the first phase single family home lots go on market. She has yet to define what a Girdwood resident is, but she hopes to

include everyone who is a part of the community including full time residents, business owners, and seasonal folks as well.

It will be fascinating to see how quickly these vacant lots will be absorbed into the market and what if any impact it has on the overall Girdwood / Turnagain Arm real estate inventory.

2022 Outlook - The Federal Reserve has indicated that it will begin to rise interest rates slightly starting this spring and that there will probably be three different rate adjustments in 2022. This will impact both the amount Buyers can qualify for and the cost of their loans. Whether this will help to moderate prices in Girdwood is doubtful since the amount of inventory sold for the last two years is at a historical all-time low.

When inventory is extremely tight, off market (FSBO) sales rise, and we can expect this trend to continue. My hope is that the Holton Hills Subdivision development will provide a much-needed opportunity for many people to get a foothold in the market by purchasing a lot to build on. If you would like more information on the market or are curious what your home’s value is please call, text, or email me for a no obligation walk thru and Broker Opinion of Value at 907-227-4626 samdaniel@glaciercityrealty.com.

Economic Forecast presentation with State Economist Neil Fried

Wednesday January 19, 2022 / 7-8:30 pm / Girdwood Chapel Or Zoom option.

With special guest speaker, Mandy Hawes, General Manager, Alyeska Resort. A review of real estate sales in Girdwood in 2021 by Sam Daniel, Glacier City Realty. Special guest appearance by Mike Edgington sharing information on private sales information gathered from the Municipality of Anchorage data portal. *Check our Facebook for more details*

ntained herein.

The sales report is based on the Alaska MLS, Inc. for 10/1/2021 -12/31/21 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. 2021and no portion may be reproduced, redistributed, or retransmitted without the expressed consent of o Alaska MLS, Inc. Further, by Alaska MLS, Inc. doesn’t guarantee the accuracy of the information contained herein.