Glenwild Q1 2020 Market Report

One Home and Two Lots Sell in Glenwild in Q1 2020

One single-family home and two lots traded across the MLS during the first quarter of 2020 in Glenwild. With Coronavirus forcing the Park City ski resorts to close in mid-March and Summit County's shelter-in-place order beginning on March 27, the quarter's statistics were likely partially impacted by the virus outbreak. While Summit County is to remain under a shelter-in-place order until May 1, 2020, real estate services were deemed essential services, and Realtors are allowed to show properties as long as they follow social distancing guidelines. Although current market activity is slower than normal, during the period from March 15 to March 31, 2020, $71.4 million dollars of residential real estate and 62 transactions went under contract on the Park City MLS, indicating real estate is still active in the area. 

The one Glenwild home that sold in Q1 was located at 7994 Glenwild and was built in 2004. The home had four bedrooms, five bathrooms, two living rooms and an elevator. It was listed at $2,150,000 and sold after 44 days on the market. The property backed to The Preserve open space. 

The two lots that traded were Lot 93 at 7278 Lupine and Lot 108 at 725 Mountain Holly. Those lots were 1.1 acres and 2.26 acres, respectively, and were listed at $599,000 and $699,000. Lot 93 was on the market for 58 days, while lot 108 was on the market for 436 days.

There are ten homes actively listed for sale in Glenwild. Two of the ten homes are to-be-built homes where construction has not yet begun, and one home on Lot 94 is currently under construction. There are 13 homes actively under construction in Glenwild, and three of the thirteen are spec builds. The listing prices for the 10 homes on the market range from $2,790,000 for 8135 Glenwild Drive up to $9,750,000 for 8066 Red Fox Court. Only two of the homes actively listed for sale are priced under $3 million and one of those is a to-be-built home. The under $3 million category was strong in Glenwild in 2019, so sellers in the under $3 million category may find significant interest if they list their home. 

There are currently sixteen vacant lots actively listed on the MLS at prices ranging from $425,000 for Lot 130 up to $1,299,000 for Lot 24. The average listing price for the lots currently on the market is $782,273. 

The Preserve, Ranches at The Preserve, Goshawk Ranch & Stagecoach Estates

In the communities surrounding Glenwild, there were three single-family homes sales in the first quarter of 2020. 9664 Red Hawk Trail in The Preserve sold on March 13 and was listed at $2,949,000. Two homes in Stagecoach Estates sold: 9671 N. Basin Canyon Road listed at $799,000 and 10266 Church Road listed at $1,240,000. In terms of land, two lots sold in early March: one 10.38 acre lot in Stagecoach Estates listed at $289,000 and Preserve Lot 15 at 8193 Red Fox Court with 10.96 acres listed at $748,000. Preserve Lot 52 priced at $650,000 with 8.14 acres is currently pending sale. 

Glenwild Compared to Other Gated Golf Communities

Single Family Homes: With only one sale in the first quarter of 2020, Glenwild's average sale price fell from the top spot and a $3.3 million average sale price at year-end 2019 to the third highest average sale price on the list. Glenwild's average sale price was behind that of Victory Ranch and Promontory. In terms of average sale price per square foot, Glenwild registers second, behind Victory Ranch. It should be noted that Victory Ranch has the smallest average single family home at 3,750 square feet.

Vacant Land: At the end of the first quarter of 2020, Glenwild posted the second-highest average land sale price at $614,500 and the largest average lot size of the communities on the list at 1.68 acres. Victory Ranch ranks #1 in terms of average sale price for Q1 2020 at $792,500, bolstered by the unique sale of a $1 million+ lot along the Provo River front. Red Ledges posted the second highest average sale price per acre at $935,324 with seven lot sales in the first quarter of 2020. 

Please feel free to reach out to me with any questions on this market update and 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 listed and sold several properties in the Glenwild area. I am currently the listing agent for 7633 Purple Sage, 785 Mountain Holly, 7242 Lupine, 8085 Glenwild Drive (Glenwild Lot 172) and also 1520 Preserve Drive (Preserve Lot 74). In addition to my Glenwild area 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. In 2019, Sotheby's International Realty closed over $114 Billion in global sales volume, a testament to the company's global reach. 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. 

Sincerely,

Molly L. Campbell

Certified Luxury Home Marketing Specialist, CLHMS

Million Dollar Guild Member - Institute for Luxury Home Marketing

GREEN Certified Realtor

Summit Sotheby's Top Tier Agent - 2014 - 2019