Glacier City Realty 3rd Quarter Newsletter

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Six homes, three condos, two vacant land sales, and one commercial business sold

The third quarter of 2023

Six homes, three condos, two vacant land sales and one commercial business sold.

Homes - 134 Barren Avenue is a 2017 modern construction property. The home has a contemporary floor plan, open concept kitchen, living room, and large mountain facing windows and deck. It is metal and wood on the exterior and reflects the newer style of construction we are seeing in the last few years for mountain design. This is my favorite home of those that sold this quarter

292 Vail Drive is a 2000 construction home that has been nicely updated over the years. It features a large deck, studio apartment and great views which Vail Drive often provides. This home falls into line with what we are seeing for trends in home sales in Girdwood. Well taken care of and updated homes that are built 2000 and newer are generally well received in the marketplace at over one million dollars.

324 Echo Ridge is of 2004 vintage which makes it actually one of the older homes at the top of Echo Ridge. Due to the amazing views of the valley this area is very popular. This home features large windows and a nice level parking area (a rarity on the Ridge).

It is a “stats only” sale which indicates that the Realtor likely brought the Seller a Buyer when the property wasn’t formally listed in MLS

788 Indian Road is one of those hidden jewels that has a lot to offer. The home has in-floor radiant heat, custom kitchen and three car garage. The property is on a large lot (even by Indian standards) at over five acres. Values in Bird and Indian continue to increase, making sales in the area very attractive comparative those in Girdwood or on the upper hillside in Anchorage.

597 Alyeska Highway is a recently closed new construction Spinell Homes property. This home features a three car garage, modern floor plan and finishes. Hard to believe you could buy a new home in Girdwood at this price point. The house/lot sold back in 2021. As I’ve mentioned previously with older existing home sales as high as they are now it’s not surprising that those who can find a lot to build on are opting to build rather than buy existing homes.

120 Bursiel Circle is located down valley on the Beaver Pond side of the valley on a cul-de-sac. The previous owner to the current Seller had made many substantial improvements to the home prior to the last sale. The most recent Sellers had begun work on an addition including construction of the foundation.

These five homes sold for 99% of the list price at time of sale after an average of 10 days on market. The houses sold off MLS are not included here.

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3rd
Sales
July 1st, 2023 –September 30th, 2023 62nd Edition Oct 2023 Property Address Girdwood Last list price Days on market Bed/Bath Res/Lot Sq ft 134 Barren Avenue $1,499,000 20 4/3 12,491/ 2,478 292 Vail Drive $1,149,000 14 3/3 12,945 / 2,038 788 Indian Road $699,900 16 3/3 229,881/ 2,561 324 Echo Ridge $ 800,000 2 2/2 15,924/1,506 597 Alyeska Highway $491,130 0 3/2 13,090/ 1,856 120 Bursiel Circle $635,000 5 2/2 10,100/ 1,560 125 White Pass Lane #800 & #802 $619,000 5 2/2 Condo 130 Taos Road #A2 $629,000 5 2/2 Condo 359 Crystal Mountain A4 $525,000 1 1/1 Condo 171 Lindblad Ave $3,300,000 0 0 Commercial Glacier City Real Estate News Glacier City Realty, Inc. • 907-738-1910 • @GlacierCityRealty.com Sam Daniel, Broker 907-227-4626 • Rebecca Reichlin, Associate Broker 907-441-8125 • Loretta Ortiz-Daniel, Realtor 907-227-4142 • Jackie Collins, Realtor 907-947-0494 • Angela Carswell, Realtor 907-231-6137 • Emily Lewis, Realtor 907-382-0118 134 Barren Avenue 292 Vail Drive 324 Echo Ridge *off MLS Sale 788 Indian Road 597 Alyeska Highway 120 Bursiel Circle Chair Five 171 Lindbald Ave
Quarter MLS
Report

Girdwood 2014

Glacier City Realty - Honesty and Integrity in everything we do

Condos - 125 White Pass Lane 800 & 802 (Alyeska West) This vintage side by side ranch style (all on one level) condo has a floor plan that to my knowledge exists only in Alyeska West and North. The master and second bedroom plus a full bath have a separate exterior entrance and a lock off adjoining door to the rest of the condo. The other half consists of an open kitchen living room and another full bath. Both sides have their own exterior decks too. The unit has recently been updated with new counter tops, carpet throughout and new interior paint. Located on the mountain, these condos are always popular with the ski community.

130 Taos Road #A2 (Sitzmark Condos)

This three level condo building with tuck under garages was originally built by EECC Quality Construction. Some of the units have been remodeled but most (including this one) feature an open concept living room kitchen with a large master bathroom including a deep jetted tub. The association has recently decided to not allow nightly rentals (only 30 days or longer) which limits the number of Buyers that typically bid on these units. Both properties sold thru Glacier City Realty as the listing Brokerage and received multiple offers

359 Crystal Mountain Rd A-4 (Crystal Mountain Condos) is located on the mountain below Challenge Alaska and the Bear Cub Quad. This is a one bedroom condo. It sold for “stats only” with the listing licensee assisting both the Buyer and the Seller.

Vacant Land - 000 Main Street (L 21 & 22 Blk 2 Girdwood Original Townsite) and 000 Main Street (L 19 & 20 Blk 2 Girdwood Original Townsite) are both estate sales in Old Girdwood. It takes two smaller lots in Girdwood to build a home due to housing code Over the years this area become a very popular spot. The number of vacant lots in Old Girdwood is steadily decreasing as new construction pops up. Old Girdwood traditionally has been primarily year-round residents but that to is changing. Within the municipality, property that is vacant land and does not have a residential or commercial structure on it is given “placeholder addresses” such as 000 or NHN (No House Number). Fun factBefore 9/11 residential properties in Girdwood did not have street addresses. Landmarks and road signs were often used to let folks know the location of a home. Chugach, Enstar and the local Fire Department all had their own systems for dealing with this not that folks don’t still sometimes end up with someone else’s package at their door.

Commercial - 171 Lindblad Avenue (Chair 5 Restaurant) was listed at over $3,000,000.00 and sold in August of this year. Chair 5 is a long time Girdwood landmark establishment known for its food It has a full-service bar and a liquor license as well. Little is known about the sale thru MLS.

Broker Summary - What a difference a year makes. Residential sales are down 50% compared to a year ago. When it comes to condos many of these were new construction that sold in 2022 and closed in Sales of existing condos (not new down compared to 2022

Sellers are less motivated to sell when the economy is perceived as fairing poorly and Buyers are less inclined to purchase when interest rates are high, around 7.2 % interest on a 30-year conventional loan as of 10/2/23. This line of reasoning has only limited value. When sales are up and interest rates are lower then competition increases, prices rise further and sellers will have a more competitive market to buy into Girdwood is facing unprecedented change and potential development in the future.

From Alyeska Resort’s plans for development of an Alpine Village to a lodge going in on airport property there are many developers looking at Girdwood as a good investment in Alaska’s future. The Holton Hills project may have been delayed but it will get revisited and eventually happen (my professional opinion).

The nature of real estate sales has changed in Girdwood since I became licensed 23 years ago. For many years the local brokerages sold the majority of the homes in Girdwood. Not so today. We’ve been publishing the Glacier City News for 15 years and sending it to all of the property owners on Turnagain Arm. Our low-key approach to attracting those who were interested in buying and selling at one time generated a considerable amount of business. Not so today. Times have changed and most folks get their news off their phones. We will continue to publish the newsletter through the end of the year but without your support by utilizing our services this newsletter may soon go the way of the Local News (Four Valleys Community Schools Newsletter), the Turnagain Times, The Girdwood Gazette, and other publications. Please consider giving one of our talented and knowledgeable Realtors a call prior to listing with another Brokerage. We will earn your business, whether you are a Buyer or a Seller. We have three Realtors residing in Girdwood, and three in Anchorage. We’ve got you covered!!

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Find out just how much your property could sell for. 907.227.4626
PO Box 550 Girdwood, AK 99587
Does not reflect all real estate activity. The information used in this publication is copyrighted by Alaska MLS, Inc. 2023 and 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. The sales report is based on the Alaska MLS, Inc. for 7/1/2023 - 9/30/23 but not compiled or published by Alaska MLS, Inc. Data maintained by Alaska MLS, Inc.

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