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2019 MARKS ANOTHER SOLID YEAR FOR GLENWILD HOME SALES

Twelve homes and four lots traded across the Park City MLS during 2019 in Glenwild. In addition to these sales, at least one home and three lots traded in off-market transactions. This activity puts 2019 about on par with 2018 when thirteen homes traded across the MLS as well as three lots. The homes that sold in 2019 ranged in list price from $2,100,000 for 7980 Glenwild Drive up to $6,500,000 for 8063 Red Fox Court. The first half of 2019 was characterized by six home sales in the under $3 million category, and several higher priced sales closed in the second half of the year. The average sale price for homes in Glenwild in 2019 was $3,294,958 or $460 per square foot according to the Park City MLS. The four lots that traded across the MLS in 2019 ranged in list price from $565,000 for lot 146 on Hollyhock up to $900,000 for lot 40 on Primrose Place. The average lot price of the four sold in 2019 was $612,500.

As of December 31, 2019 no homes were pending sale in Glenwild, but two lots were under contract to sell. The lots pending sale were lot 93 on Lupine listed at $599,000 and lot 108 on Mountain Holly listed at $699,000.

GLENWILD YEAR-END 2019 MARKET HIGHLIGHTS

The average sale price for single-family homes in Glenwild in 2019 was $3,294,958 or $460 per square foot.

Twelve homes traded across the Park City MLS in 2019, which is in-line with 2018 when thirteen homes sold.

Single-family inventory is at a healthy level with eleven homes actively listed for sale as of December 31, 2019, which equates to less than one year of inventory.

Summit Sotheby's International Realty had about 50% market share of the number of closed single-family sales (listing and buyer representation) in Glenwild in 2019.

Four vacant lots sold across the MLS in 2019, exceeding the number of lots sold in 2018, which was three.

The average sale price for the four lots that traded across the MLS in 2019 was $612,500.

Vacant land inventory at the end of 2019 showed 16 active listings at prices ranging from $425,000 up to $1,500,000.

GLENWILD COMPARED TO OTHER PARK CITY GATED GOLF COMMUNITIES

When comparing the performance of the market in Glenwild to that of other gated golf course communities around Park City, Glenwild looks to be performing well. Glenwild reports the highest average single-family sale price of the five golf communities in the chart below at about $3.3 million, almost $1 million above Promontory and Victory Ranch. Additionally, Glenwild appears to have a healthy inventory of homes being marketed for sale with less than one year's worth of inventory currently on the market. Promontory and Victory Ranch are two other communities in the report with less than one year of inventory on the market at of the end of 2019. Tuhaye and Red Ledges have in excess of one year's worth of single-family inventory on the market as of December 31, 2019. Victory Ranch posts the highest average sale price per square foot, although the average home size in Victory Ranch is the smallest of the five golf communities at 3,446 square feet. The second highest average single-family home sale price per square foot is Promontory at $486 per square foot. Looking at land, Glenwild reports the second highest average lot sale price for 2019, about $167,500 below the average lot sale price at Victory Ranch.

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Please feel free to reach out to me with any questions on this market update, and please consider me a resource for real estate information in the Glenwild area and beyond. My office is located at the Summit Sotheby's real estate offices inside the Glenwild Lifestyle Center. With over twelve years of experience selling real estate in Park City, I have sold several properties in the Glenwild area. During 2019 I represented the sellers and the buyers for 7970 Glenwild Drive, the sellers for lot 109 at 695 Mountain Holly Drive, the sellers at 985 Primrose Place, the buyers at 8095 Glenwild Drive, and the sellers at 8035 Glenwild Drive. Additionally, I have 7418 Glenwild Drive, 7633 Purple Sage, 7242 Lupine Drive and 8085 Glenwild Drive listed for sale. In addition to my Glenwild sales experience, I have been a golf member at Glenwild since 2008.

Sotheby's International Realty has an incredible real estate network with 20,000 sales associates in 900 offices in 70 countries around the world, and I can match you with highly qualified real estate professionals wherever you may be transacting. I look forward to assisting you with your real estate needs, and please let me know if you have a friend or neighbor who would like to receive these quarterly real estate updates.