Glenwild Area 1st Quarter 2024 Market Report
By Molly Campbell, April 18, 2024
NO HOMES OR LOTS TRADE IN 1Q 2024 IN GLENWILD. THREE HOMES PEND SALE INDICATING INCREASED BUYER ACTIVITY
No homes or lots traded during the first quarter of 2024 in Glenwild; however, three homes went under contract in March, indicating good buyer activity and an increase in sales for the second quarter of the year. With three homes pending sale, the number of active listings in Glenwild is down to only six homes. This is below the average number of homes typically listed in Glenwild, indicating now might be a good time to list your home if you are considering selling. The six homes listed for sale range in price from $5.5 million up to $8.5 million and can be viewed here.
No lots traded during the first quarter of 2024, and no lots were pending sale at March 31, 2024. Seven lots are actively listed for sale at prices ranging from $965,000 up to $2.3 million. MLS details and photos for the actively listed lots can be viewed here.
As Glenwild continues to grow in popularity and becomes more built-out, finding available homes and land to buy can be a challenge for buyers, and some trades occur in off-market transactions. This report refers only to the sales disclosed on the Park City MLS in all communities for consistency and accuracy. However, I am aware of several off market listings as well as future listings, so please contact me if you are looking to buy or sell, so you can understand the entire spectrum of available inventory.
Glenwild Homes
- No homes sold in Glenwild during the first quarter of 2024, compared to the two homes that sold during the first quarter of 2023
- The average sale price for a Glenwild home at year-end 2023 was just over $6.3 million or $898 per square foot.
- As of March 31, 2023, three homes were pending sale.
- At March 31, 2024, there were six homes actively listed for sale in Glenwild at prices ranging from $5.5 million up to $8.5 million. This is below average for Glenwild where the typical number of homes listed is around ten.
- MLS details and photos for the current active listings can be viewed here .
Glenwild Land
- No lots traded in Glenwild during the first quarter of 2024, compared to one lot that sold during the first quarter of 2023.
- At the end of the first quarter of 2024, no lots were pending sale.
- At March 31, 2023, seven lots were actively listed for sale at prices ranging from $965,000 up to $2.3 million.
- Details on the current active listings can be viewed here.
The Preserve, Ranches at The Preserve, Goshawk Ranch & Stagecoach Estates
In the communities surrounding Glenwild, one home sold in the first quarter of 2024. The sale was the home at 9270 Mountain Bluebird Lane, listed at $12,750,000 on 10.88 acres. As of March 31, 2023, no homes were pending sale, and two homes were listed for sale. The actively listed homes were a $6.4 million home in Goshawk Ranch on 13.8 acres and an $11.6 million home in The Preserve on 9.0 acres. A link to the current active listings can be found here.
Five lots sold in the communities surrounding Glenwild during the first quarter of 2024, the same number that sold in all of 2023! Three of the sales were in The Preserve/Ranches at The Preserve, and two of the sales were in Stagecoach Estates. At the end of the first quarter of 2023, no lots were pending sale and nine lots were actively listed for sale at prices ranging from $695,000 in Stagecoach Estates up to $10.75 million for a 46 acre lot in The Preserve. A link to the active land listings in the communities surrounding Glenwild can be found here.
Single-Family Homes
No home sales closed in Glenwild during Q1, but the average sale price at year-end 2023 was $6.35 million, which was the highest of all of the communities. Promontory follows behind at over $5.7 million, then Tuhaye which is also over $5 million. Victory Ranch shows the highest price per square foot, likely driven by the newly built, developer product sales and also the smallest average home size of the group. Glenwild, Promontory, and Tuhaye have lower inventory levels than in Q1 of 2023, while Tuhaye and Red Ledges have higher inventory levels versus Q1 2023. Excluding Glenwild (because of no closings), each of the communities posted higher average sale prices per square foot in Q1 2024 than at year-end 2023 with the exception of Tuhaye which was down over 7%.
Vacant Land
No land sales closed in Glenwild during 1Q 2024. Victory Ranch posted the highest average sale price in Q1 2024, but only one lot sold which was a 15.2 acre lot, well above the average lot size in the community. Following closely behind was Tuhaye at over $1.7 million for an average lot. Ten lots traded in Promontory during 1Q 2024 marking the greatest activity of any of the communities with another seven lots pending sale at the end of the quarter. Excluding Glenwild (because of no closings), the average land sale price in each community was higher than that at year-end 2023. Further, inventory levels are either on par with or lower than they were during the first quarter of 2023, indicating the upward trend in pricing is likely to continue.
Please feel free to reach out to me with any questions about 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 sixteen years of experience selling real estate in Park City, I have listed and sold several properties in the Glenwild area, and I have been a golf member at Glenwild since 2008. Additionally, my relationships in the community make me aware of off-market properties not listed on the MLS. If you are looking to buy or sell in the area, knowledge of those properties can be crucial to your overall strategy.
Sotheby’s International Realty has an incredible real estate network with 26,500 sales associates in 1,115 offices in 84 countries around the world, and I can match you with highly qualified real estate professionals wherever you may be transacting. Sotheby’s International Realty brokered over $143 billion of real estate transactions in 2023 and has a proven track record of success in the luxury real estate market. Sotheby’s International Realty is also the #1 most profiled luxury real estate brand in the press with over 65,600 placements.
I look forward to assisting you with your real estate needs wherever they may be, 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
Summit Sotheby’s International Realty
molly@mollycampbell.com
435-655-1208 mobile