Real Estate Stats

INVENTORY BACK TO PRE-PANDEMIC LEVELS PRICE PER SQUARE FOOT IS UP OVER 2022 YEAR-END AVERAGE

Two homes sold in Glenwild during the second quarter of 2023, bringing the total number of homes sold in Glenwild during the first half of 2023 to four. The two homes that sold during the second quarter were the new construction home at 7385 Foxglove Court listed at $8,375,000 and the home at 795 Hollyhock that sold in an auction style bidding process. At the end of the quarter, the home at 7285 Foxglove, listed at $10.4 million, was pending sale and closed just after the quarter ended. Contact me if you would like more details on that transaction. The average price for a Glenwild home sold in the first half of 2023 was over $6.7 million or $938 per square foot, up from the $832 per square foot average at year-end 2022. At the end of the second quarter, ten homes were actively listed for sale in Glenwild at prices ranging from $4.4 million up to $8.5 million. This active inventory is on par with the amount of homes listed at year-end 2019 (pre-pandemic) which was eleven homes.

No lots traded during the second quarter of 2023, and only one lot sold during the first half of 2023. The one sale was lot 161 at 2.01 acres, and listed at $1.2 million. The average sale price for a Glenwild lot at the end of 2022 was just over $1.5 million, so this sale was slightly below that average. Six lots were actively listed at the end of the second quarter at prices ranging from $995,000 up to $2.3 million. At the end of the second quarter of 2019, there were six lots actively listed for sale, similar to the current inventory. 

As Glenwild continues to grow in popularity, 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

• Two homes sold in Glenwild during the 2nd quarter of 2023, and a total of four homes have sold during the first half of 2023. 
• The average price for a home sold during the first half of 2023 was over $6.7 million or $938 per square foot, up from the $832 per square foot average at year-end 2022.
• One home was pending sale at the end of the second quarter of 2023, and that home was 7285 Foxglove listed at $10.4 million that closed quickly after the quarter ended. 
• At the close of the second quarter, there were ten homes actively listed for sale in Glenwild at prices ranging from $4.4 million up to $8.5 million. This is about on par with the eleven homes that were listed at year-end 2019 (pre-pandemic). 
• Details on the active listings can be viewed here. 

Glenwild Land

• No lots traded in Glenwild during the second quarter of 2023, and one lot has sold during the first half of 2023.
• At the end of the second quarter, no lots were pending sale.
• At June 30, 2023, six lots were actively listed for sale at prices ranging from $995,000 up to $2.3 million. This inventory level is similar to 2019, pre-pandemic.
• Details on the active listings can be viewed here. 

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

In the communities surrounding Glenwild, no homes sold in the second quarter of 2023. At the end of the second quarter, no homes were pending sale in the neighborhoods surrounding Glenwild. As of June 30, 2023, nine homes were actively listed at prices ranging from $2.1 million in Stagecoach Estates up to $14.9 in Goshawk Ranch. The listings include five in The Preserve/Ranches at the Preserve, two in Goshawk Ranch, and two in Stagecoach Estates. A link to the active listings can be found here. 

One lot sold in the communities surrounding Glenwild in the second quarter of 2023: 663 W Deer Hill Road, an 11 acre lot listed at $1,650,000. No lots were pending sale at the end of the quarter. Eleven lots were actively listed for sale on the MLS at June 30, 2023 at prices ranging from $599,000 in Stagecoach Estates up to $2.1 in The Preserve. A link to the active land listings in the communities surrounding Glenwild can be found here.

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 fifteen 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 – in fact, I have off-market listings in the area that are available. 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 26,000 sales associates in 1,000 offices in 81 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 $167 billion of real estate transactions in 2022 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 60,000 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

molly@mollycampbell.com

435-655-1208 mobile

INVENTORY REMAINS LOWER THAN PRE-PANDEMIC LEVELS
SALE PRICE PER SQUARE FOOT INCREASES

Two homes sold in Glenwild during the first quarter of 2023. The two homes that sold were the new construction home at 7965 Glenwild Drive listed at $6.3 million and the home at 7208 Lupine, listed at $6.5 million and built in 2013. Both sales closed on February 28, 2023. The transaction activity in the first quarter of 2023 was about on par with the activity in the first quarter of 2022 when three homes sold. The average price for a Glenwild home sold in the first quarter of 2023 was $6.25 million or $1,032 per square foot, an increase over the $832 per square foot average price at year-end 2022. At the end of the first quarter, nine homes were actively listed for sale in Glenwild at prices ranging from $4.89 million up to $14.0 million. This active inventory is less than the amount listed at year-end 2019 (pre-pandemic) which was eleven homes.

One lot sold in Glenwild during the first quarter of 2023. The lot that sold was lot 161, 2.01 acres, and listed at $1.2 million. The average sale price for a Glenwild lot at the end of 2022 was just over $1.5 million, so this sale was slightly below that average. Five lots were actively listed at the end of the first quarter at prices ranging from $1.2 million up to $2.39 million. Like single-family homes, land inventory levels are lower than at year-end 2019 when 16 lots were actively listed for sale.

With inventory levels below those of year-end 2019, 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

• Two homes sold in Glenwild during the 1st quarter of 2023 at an average price of $6.25 million and $1,023 per square foot. This is an increase over the $823 average price per square foot at the end of 2022.
• Two homes were pending sale at the end of the first quarter of 2023. One was 7385 Foxglove that is currently under construction and will close upon completion. The other was 795 Hollyhock that was marketed by an auction process.
• At the close of the first quarter, there were nine homes actively listed for sale in Glenwild at prices ranging from $4.89 million up to $14.0 million. This is lower than the eleven homes that were listed for sale at year-end 2019, indicating inventory levels are not yet back to pre-pandemic levels.
• Details on the active listings can be viewed here.

Glenwild Land

• One lot traded in the first quarter of 2023, lot 161 which was listed at $1.2 million for 2.01 acres.
• At the end of the first quarter, no lots were pending sale.
• At March 31, 2023, five lots were actively listed for sale at prices ranging from $1.2 million up to $2.39 million. This is lower than the 16 lots that were listed at year-end 2019, indicating land inventory levels are still low.
• Details on the active listings can be viewed here.

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

In the communities surrounding Glenwild, two homes sold in the first quarter of 2023: one in Goshawk Ranch and one in Stagecoach Estates. The Goshawk Ranch home was listed at $6.75 million for an 8,400 square foot home with a barn/guest ouse on 15 acres, and the Stagecoach Estates sale was a 3,500 square foot home on 10 acres listed at $1.99 million. At the end of the first quarter, no homes were pending sale in these neighborhoods, and only four homes were actively listed at prices ranging from $4.6 million up to just under $11 million. The listings include two in The Preserve/Ranches at the Preserve, one in Goshawk Ranch and one in Stagecoach Estates. A link to these listings can be found here.

Two lots sold in the communities surrounding Glenwild in the first quarter of 2023: one in The Preserve listed at $1.99 million and one in Stagecoach Estates listed at $700,000. No lots were pending sale at the end of the quarter, and five lots were actively listed for sale on the MLS at March 31, 2023 at prices ranging from $799,000 in Stagecoach Estates up to $1.65 in The Preserve. A link to the active land listings in the communities surrounding Glenwild can be found here.

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 fifteen 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 – in fact, I have two off-market listings in the area that are available. 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 26,000 sales associates in 1,000 offices in 81 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 $167 billion of real estate transactions in 2022 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 60,000 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

molly@mollycampbell.com

435-655-1208 mobile

COVID REAL ESTATE BOOM COMES TO AN END: SALES ACTIVITY SLOWS AND PRICES STABILIZE

The Park City and Glenwild real estate markets were active the first half of 2022 with prices peaking in the Park City real estate market in late April 2022. Federal Reserve policy quickly impacted the real estate market, and transaction activity slowed considerably in the second half of the year. The transition in mid 2022 marked the end of the Covid real estate boom which had a roughly two year run from June of 2020 to June of 2022. The market change ushered in a slower pace of transaction activity as many buyers waited on the sidelines, and numerous aspirational sellers pulled their listings off the market. While the pace of price increases slowed in the second half of 2022, inventory levels in most of the the Park City golf course communities was lower at year-end 2022 than at year-end 2019. No one can predict where the market is headed, but it is clear that the last several years brought considerable activity and price increases to each of Park City’s golf course communities. Most of the golf course communities posted 50%+ increases in average home prices and 100%+ increases in land prices. Average home prices in Glenwild increased 103% between year-end 2019 and year-end 2022. Average land prices in Glenwild increased 152% between year-end 2019 and year-end 2022. What a run!

Four homes sold in Glenwild during 2022. Three of those sales closed in March of 2022, and the fourth sold in the third quarter. The fourth sale was negotiated in 2021 as it was a newly built home that sold upon completion and had been pending sale for some time. By comparison, 18 Glenwild homes sold in 2020, and 11 Glenwild homes sold in 2021. The average price for a Glenwild home sold in 2022 was over $6.7 million or $832 per square foot, about a 48% increase over the average price at year-end 2021. At the end of 2022, eight homes were actively listed for sale in Glenwild at prices ranging from $5.35 million up to $14.0 million. This active inventory is less than the amount listed at year-end 2019 which was eleven homes.

Six lots sold in Glenwild during 2022, and four of those sales closed in the first quarter while the other two sold in the second quarter. The average sale price for a Glenwild lot in 2022 was just over $1.5 million, up nearly 41% over the average price at year-end 2021. Five lots were actively listed at year-end 2022 at prices ranging from $1.65 million up to $2.99 million. Again, inventory levels are lower than at year-end 2019 when 16 lots were actively listed for sale.

With inventory levels below those of year-end 2019, 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

• Average home prices in Glenwild increased 103% between year-end 2019 and year-end 2022.
• The average price for a Glenwild home sold in 2022 was just over $6.7 million or $852 per square foot. This is about a 48% increase over prices at year-end 2021.
• Four homes sold in Glenwild in 2022, most in the first quarter. This is considerably lower than in 2021 when eleven homes sold.
• Two homes were pending sale at the end of 2022. One is 7385 Foxglove that is currently under contruction and will close upon completion. The other is 7965 Glenwild Drive that will close in March of 2023.
• There are currently eight homes actively listed for sale in Glenwild at prices ranging from $5.35 million up to $14.0 million. This is lower than the eleven homes that were listed for sale at year-end 2019, indicating inventory remains tight.
• Details on the active listings can be viewed here.

Glenwild Land

• Average land prices in Glenwild increased 152% between year-end 2019 and year-end 2022.
• The average sale price for the lots sold in 2022 was $1,541,667, an increase of almost 41% over the price at year-end 2021.
• Six Glenwild lots sold in 2022, this is down from the 14 lots that sold in 2021.
• At December 31, 2022 one lot was pending sale, lot 161 priced at $1.2 million.
• At December 31, 2022, five lots were actively listed for sale at prices ranging from $1.65 up to $2.99 million. This is lower than the 16 lots that were listed at year-end 2019, indicating inventory levels are still low.
• Details on the active listings can be viewed here.

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

In the communities surrounding Glenwild, ten homes sold in 2022: five in The Preserve/Ranches at The Preserve, four in Stagecoach Estates, and one in Goshawk Ranch. The sales raged in price from about $1.9 million for a 4-bedroom cabin on over ten acres in Stagecoach Estates up to nearly $8 million for a home in The Preserve on over ten acres. At year-end 2022, no homes were pending sale in these neighborhoods, and seven homes were actively listed at prices ranging from $1.9 million up to just under $15 million. A link to these active listings can be found here.

Six vacant lots sold in the communities surrounding Glenwild in 2022: three in The Preserve and three in Stagecoach Estates. The lots that sold were priced from $479,000 for 10 acres in Stagecoach Estates up to $1.95 million for seven acres in The Preserve. No lots were pending sale at the end of 2022, and nine lots were actively listed for sale on the MLS at December 31, 2022. A link to the active land listings in the communities surrounding Glenwild can be found here.

Glenwild Compared to Other Gated Golf Communities

SALES ACTIVITY SLOWS

One home sold in Glenwild during the third quarter, and only four homes have sold in Glenwild during the first three quarters of 2022. By comparison, nine Glenwild homes sold in the first three quarters of 2021. The home that sold during the third quarter of 2022 was a newly constructed home at 1233 Snowberry Street that was listed at $8.1 million. That transaction had been pending sale since March of 2022 after receiving multiple offers, and it closed on September 21, 2022 when the home was completed. The average single-family home price in Glenwild for the first three quarters of 2022 was $6,700,122 or $832 per square foot. This marks a 48% increase over the year-end 2021 average price. At September 30, 2022, seven homes were actively listed in Glenwild, compared to six homes that were listed at the end of the second quarter, marking only a slight increase in inventory. However, the Glenwild HOA reports that eighteen homes are under construction, and about eight of those are spec homes that could become future listing inventory.

During the second quarter of 2022, one Glenwild lot traded across the MLS and no lots were pending sale at the end of the quarter. A total of six lots have sold in Glenwild during the first three quarters of 2022 compared to twelve lots that sold during the first three quarters of 2021. The average sale price for the Glenwild lots sold January 1 to September 30, 2022 was $1,541,667, marking an increase of nearly 41% over the average sale price at year-end 2021. At September 30, 2022 six lots were actively listed for sale, the same number as were listed at the end of the second quarter.

Sometimes 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.

Homes

• One home sold during the third quarter of 2022. That home was 1233 Snowberry listed at $8.1 million and was new construction and closed upon completion.
• The average sale price for single-family homes in Glenwild for the first three quarters of 2022 was $6,700,122 or $832 per square foot. This represents a 48% increase in pricing over the year-end 2021 average price.
• Two homes were pending sale at the end of the second quarter. One pending sale is the home currently under construction at 7385 Foxglove Court that will close upon completion of the home. The other pending sale is 1283 Snowberry, listed at $4.88 million.
• Inventory of active listings remained fairly stable at seven listings, up from six listings at the end of the second quarter. The homes listed range in price from $4,995,000 up to $14,000,000. Details on the active listings can be viewed here.

Land

• One lot sold in Q3 2022, that was lot 62 at 1146 Snowberry that was 1.78 acres and was listed at $1,550,000.
• The average sale price for the six lots sold through the first three quarters of 2022 was $1,541,667, representing nearly a 41% increase over the year-end 2021 average.
• During the first three quarters of 2022 six Glenwild lots sold, down from the twelve lots that sold during the same period in 2021.
• At September 30, 2022 no lots were pending sale.
• At September 30, 2022, six lots were actively listed for sale, the same number as were listed at the end of the second quarter. The listing prices for the six lots on the market ranged in price from $1,100,000 up to $2,999,000 million and can be viewed at the link here.

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

In the communities surrounding Glenwild, four homes sold during the third quarter of 2022. Two homes in The Preserve sold, one home in Stagecoach Estates and one home in Goshawk Ranch. The homes that sold were listed at prices ranging from $1,750,000 for a home in Stagecoach Estates up to $7,900,000 for a home in The Preserve. At the end of the third quarter there was one home pending sale in the communities outside of Glenwild, and that home is under construction and located in The Preserve. It has been pending sale since September of 2020, and the sale will close when the home is completed. At the end of the third quarter there were seven homes listed for sale in the communities surrounding Glenwild at prices ranging from $1,975,000 for a home in Stagecoach Estates up to $17,900,000 for a horse ranch in Goshawk Ranch. A link to these active listings can be found here.

No vacant lots sold in the communities surrounding Glenwild in the third quarter of 2022. One lot was pending sale at the end of the second quarter – lot 17 in The Preserve listed at $1,750,000 for 11.41 acres. As of September 30, 2022, there were eight lots actively listed: five in The Preserve, one in Ranches at The Preserve and two in Stagecoach Estates. The lots are listed at prices ranging from $850,000 up to $2,595,000. A link to the active land listings in the communities surrounding Glenwild can be found here.

Glenwild Compared to Other Gated Golf Communities

Single Family Homes: Single-family listing inventory increased over the summer in each of communities, which is typical in golf course communities. However, the inventory levels, in general, are not yet back to 2019 or pre-pandemic levels. The number of homes pending sale at the end of the third quarter was about equal in each of the communities to the number pending sale at the end of the second quarter. Average pricing remained relatively stable between the second and third quarters, with some communities posting slight decreases, with the exception of Glenwild that increased from about $6.1 to about $6.7 million. Victory Ranch topped the per square foot pricing metric at $909 per square foot through the three quarters of 2022, followed by Promontory at $874. Both of these communities have a substantial amount of newly built inventory that sold which is driving higher per square foot pricing and a smaller average home size than Glenwild. Glenwild has the highest average sale price at over $6.7 million.

Vacant Land: Vacant land inventory increased in each of the communities when compared to the second quarter of 2022 and to the third quarter 2021; however, inventory levels are still below 2019 levels. The number of closed sales through the third quarter of 2022 is down from sales levels for the same period in 2021 with one exception, Tuhaye. Tuhaye closed several land sales in two newly platted subdivisions over the summer. Average pricing for Tuhaye has steadily increased and is closing in on Glenwild, and Tuhaye’s average price per acre is slightly higher than Glenwild’s. Victory Ranch had the top average price for land in the first three quarters of the year at close to $2 million. This is driven by the sale of larger, estate lots that sold in the $2-3 million range. The number of lots sold in each of the communities through the third quarter exceeds the number of sales in 2019 in all communities except Victory Ranch, indicating the communities are still popular with buyers.

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 fourteen 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.

Additionally, Sotheby’s International Realty has an incredible real estate network with 24,000 sales associates in 1,000 offices in 75 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 $204 billion of real estate transactions in 2021 and has a proven track record of success in the luxury real estate market. 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
molly@mollycampbell.com
435-655-1208 mobile
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 to 2022
RealTrends America’s Best Realtors, Top 1.5% Nationwide – 2019, 2020 & 2021

Inventory Increases, Prices Begin to Stabilize

Single-family home prices remained stable in Glenwild during the second quarter of 2022 as no homes sold during the quarter. The average single-family home price in Glenwild remained at an average of $6,166,667 or $779 per square foot as of June 30, 2022. This marks a 36% increase over the year-end 2021 figure. At June 30, 2022, six homes were actively listed in Glenwild, an increase from the one home that was actively listed at the end of the first quarter. The Glenwild HOA reports that sixteen homes are actively under construction, and about eight of those are spec homes that could become future listing inventory.

During the second quarter of 2022, two Glenwild lots traded across the MLS and one was pending sale at the end of the quarter. The average sale price for the lots sold through June 30, 2022 in Glenwild was $1,550,000, an increase of over 42% versus the average sale price at year-end 2021 and a $100,000 increase over the average at the end of the first quarter of 2022. At June 30, 2022 six lots were actively listed for sale, an increase over the two lots that were listed for sale at the end of the first quarter.

Glenwild is approximately 80% built out, so 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.

Homes

• No single-family homes sold in Glenwild during the second quarter of 2022.
• The average sale price for single-family homes in Glenwild for the first half of the year was $6,166,667 or $779 per square foot. This represents a 36% increase in pricing over year-end 2021.
• Two homes were pending sale at the end of the second quarter, and both were homes that are currently under construction – 1233 Snow Berry and 7385 Foxglove Court. Those sales will close upon completion of the homes.
• Inventory of active listings increased from one listing at the end of the first quarter of 2022 to six homes listed at the end of the second quarter. The homes actively listed range in price from $4,880,000 to $7,600,000. Details on the listings can be viewed here.

Land

• Two lots sold in Q2 2022 and were priced at $1,499,000 and $2,475,000. The lots were 1.29 and 1.22 acres.
• The average sale price for the lots sold through the first half of 2022 was $1,550,000, representing a 42% increase over the year-end 2021 average.
• The average days on market for the lots sold in Q2 2022 was 50 days.
• At June 30, 2022 one lot was pending sale, lot 62 listed at $1,550,000.
• At June 30, 2022, six lots were actively listed for sale, representing an increase over the two lots that were listed at the end of Q1. The listing prices for the six lots on the market range in price from $1.2 million up to $2.99 million and can be viewed at the link here.

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

In the communities surrounding Glenwild, three homes sold during the second quarter of 2022. Two homes in Ranches at The Preserve sold, and one home in Stagecoach Estates. The homes that sold were listed at prices ranging from $4.2 million up to $7.35 million. There is currently one home pending sale in the communities outside of Glenwild, and that home is under construction and has been pending sale since September of 2020. The sale will close when the home is completed. Inventory in these communities is up, and there are eleven homes currently listed for sale at prices ranging from $950,000 for a cabin in Stagecoach Estates up to $17.9 million for a horse ranch in Goshawk Ranch. A link to these active listings can be found here.

One vacant lot sold in the communities surrounding Glenwild in the second quarter of 2022. That lot was located in The Preserve and was a 7.5 acre lot listed at $1,950,000. No lots were pending sale at the end of the second quarter, and there are currently nine lots actively listed: five in The Preserve, two in Ranches at The Preserve and two in Stagecoach Estates. The lots are listed at prices ranging from $850,000 up to $2,595,000. A link to the active land listings in the communities surrounding Glenwild can be found here.

Glenwild Compared to Other Gated Golf Communities

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 fourteen 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.
Additionally, Sotheby’s International Realty has an incredible real estate network with 24,000 sales associates in 1,000 offices in 75 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 $204 billion of real estate transactions in 2021 and has a proven track record of success in the luxury real estate market. 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.

Low Standing Inventory and Increasing Prices Continue

Three homes sold in Glenwild during the first quarter of 2022. The average price for the homes sold during the first quarter was $6,166,667 or $779 per square foot. This marks a 36% increase over the year-end 2021 figure. At March 31, 2022, only one home was actively listed for sale in Glenwild, and one home was pending sale. The Glenwild HOA reports that sixteen homes are actively under construction, and about eight of those are spec homes that could become future listing inventory.

During the first quarter of 2022, three Glenwild lots traded across the MLS and one was pending sale at the end of the quarter. The average sale price for the lots sold during the first quarter of 2022 was $1,450,000, an increase of over 32% versus the average sale price at year-end 2021. At March 31, 2022 two lots were actively listed for sale at prices ranging from $1,900,000 to $1,950,000.

Glenwild is approximately 80% built out, so 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.

HOMES

• Three Glenwild homes sold during the first quarter of 2022. The homes that sold ranged in listing price from $4.7 million for 7980 Glenwild Drive up to $7 million for both 340 Hollyhock and 785 Mountain Holly Lane.
• The Q1 2022 average sale price for a Glenwild home was $6,166,667 or $779 per square foot. This represents a 36% increase in pricing over year-end 2021. The average days on market for a Glenwild home in the first quarter of 2022 was 28 days, indicating a brisk market for well-priced inventory.
• The one home pending sale at the end of the first quarter of 2022 was 1233 Snowberry that is currently under construction and scheduled to be complete by late summer or fall. This sale will close upon completion of the home.
• Only one home was actively listed for sale in Glenwild at the end of the quarter, and that was 7628 Glenwild Drive, listed at $7,595,000. Details on that home can be viewed here. With only one home actively listed, now might be an excellent time to list your home for sale!

LAND

• Three lots sold in Q1 2022 and ranged in price from $1,100,000 to $1,750,000 and size from 1.12 to 1.33 acres.
• The average sale price for the lots sold in Q1 2022 was $1,450,000, representing a 32% increase over the year-end 2021 average. The average days on market for the lots sold in Q1 2022 was 38 days.
• As of March 31, 2022 one lot was pending sale, lot 61 listed at $1,499,000.
• As of March 31, 2022, two lots were actively listed for sale at prices ranging from $1.9 million up to $1.95 million and can be viewed at the link here.

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

In the communities surrounding Glenwild, three homes sold during the first quarter of 2022. Two homes in Stagecoach Estates sold, and one home in The Preserve sold. The Stagecoach Estates homes were listed at $850,000 and $3,2 million, indicating a broad range of prices in this up-and-coming neighborhood near Glenwild. The home that sold in The Preserve was 960 W. Deer Hill Road listed at $5.65 million. There are currently three homes pending sale, which are all in The Preserve and Ranches at The Preserve. There are currently four homes on the market at prices ranging from $2.45 million up to $9.6 million. A link to these active listings can be found here.

Two lots sold in the communities surrounding Glenwild in the first quarter of 2022, and both were located in Stagecoach Estates. The lots were listed at $469,900 and $525,000. One lot listed at $1.8 million in The Preserve is pending sale, and three lots in The Preserve/Ranches at The Preserve are listed at prices ranging from $1.65 million up to $2.6 million. A link to the active land listings in the communities surrounding Glenwild can be found here.

Glenwild Compared to Other Gated Golf Communities

Single Family Homes: The number of closed home sales in each of the communities during the first quarter was on par with that of the first quarter of 2021. Inventory is slightly higher with a total of 44 homes listed for sale at the end of Q1 2022 compared to 37 at the end of Q1 2021. Glenwild leads the group with the highest average sale price by far at over $6 million. However, Victory Ranch holds the top spot for average sale price per square foot at $898 per square foot, followed by Promontory at $863 per square foot. These higher per square foot values are likely driven by developer and new construction sales. Each of the communities posted an increase in average sale price per square foot over year-end 2021. (It should be noted that this data only includes single-family home sales, no twin homes or townhomes are included in this data.)

Vacant Land: A similar number of lots sold in the communities during Q1 2022 when compared to Q1 2021. Listing inventory levels are similar as well. There is a decrease in the number of pending sales at the end of Q1 2022 when compared to Q 2021, which could be driven by newly released inventory by communities like Promontory and Tuhaye in 2021 being absorbed by buyers. Victory Ranch posted the highest average sale price at the end of the quarter at $2,425,000; however, the data could be skewed by the sale of a nearly 6 acre lot that sold for. $3 million. Glenwild has the highest average sale price per acre, followed by Promontory and then Tuhaye. Each of the communities posted considerable average price growth when compared to the year-end 2021 averages.