Glenwild Area Year-end 2020 Market Report
By Molly Campbell, December 30, 2020
Historical Transaction Volume and Substantial Price Increases in 2020.
The Glenwild real estate market posted more single-family and vacant land sales in 2020 than in any other year along with significant price appreciation in both categories. The increased activity can be attributed to the Coronavirus-driven trend of of buyers wanting to either live full-time in Park City or to have a second home in the area as an escape. Eighteen homes sold in Glenwild in 2020 at an average price of $4,203,528 or $552 per square foot with nearly double the dollar volume sold in 2019. In a surge of land activity, 25 lots traded across the Park City MLS in 2020 at an average price of $718,650. Compare this activity to the twelve homes and four lots that sold in 2019, and one can see that 2020 was a record year for Glenwild.
- Eighteen homes sold in Glenwild during 2020 at an average sale price of $4,203,528 or $552 per square foot. Listing prices for the homes sold ranged from $2,150,000 for 7994 Glenwild Drive up to $7,500,000 for 7495 Purple Sage.
- As of December 31, 2020, one home at 7145 Glenwild Drive was pending sale, listed at $4,850,000.
- Average single-family pricing in Glenwild in increased 27.6% over average pricing in 2019.
- Currently there are only four active single-family listings in Glenwild at prices ranging from $3,395,000 for 685 Hollyhock up to $9,500,000 for 800 Hollyhock. This inventory level is very low, and buyers are challenged to find listing inventory. If you have thought about listing your home, now might be a great time!
- Twenty-five lots traded across the Park City MLS during 2020 at an average sale price of $718,650. Listing prices for the lots sold ranged from $425,000 for Lot 130 at 6855 Lupine (1.24 acres) up to $1,400,000 for Lot 87 at 7488 Glenwild Drive (1.64 acres).
- Transaction volume in terms of units sold increased 525% for vacant land in 2020!
- Average vacant land pricing in Glenwild increased 17.3% in 2020 over 2019.
- At year-end 2020 no lots were pending sale.
- At December 31, 2020 there were on only two active land listings in in Glenwild. The lots currently on the MLS range from $1,050,000 for Lot 59 at 7274 Purple Sage (1.33 acres) up to $1,950,000 for Lot 119 at 7435 Foxglove Court (1.18 acres). Now could be a great time to list and sell your vacant lot with inventory so low.
Single Family Homes: Glenwild stands out with the top average sale price for single-family homes at over $4.2 million. The next closest community in terms of average price is Victory Ranch at about $3.0 million. In terms of sale price per square foot, however, Victory Ranch takes the top spot at an average sale price per square foot of $741 for 2020 with Glenwild in the number two spot at $552 per square foot. Inventory constraints in both of these communities could continue to drive pricing up in 2021.
Vacant Land: At the end of 2020, Glenwild posted the second-highest average land sale price at $718,650, closing in on Victory Ranch in the top spot at $722,872. Tuhaye posted a substantial increase in the number of sales and prices in 2020. That community posted a 2020 average sale price of $639,681, or third highest of the group with 102 sales. Tuhaye also posted the highest average sale price per acre in 2020 at $580,261 per acre, overtaking Red Ledges which had been the top in 2019.
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 thirteen years of experience selling real estate in Park City, I have listed and sold several properties in the Glenwild/Preserve area. During 2020, I was involved with the Glenwild area transactions listed below. In addition to my Glenwild area sales experience, I have been a golf member at Glenwild since 2008.
- 7474 Bitner Ranch Road – Listing Agent – List Price $2,162,250
- 7633 Purple Sage – Listing Agent – List Price $5,195,000
- 7174 Lupine – Co-Buyer’s Agent – List Price $680,000
- 1520 Preserve Drive, Lot 74 – Listing Agent – List Price $695,000
- 530 Hollyhock, Lot 151 – Referral Agent – List Price $739,000
- 8135 Glenwild Drive – Buyer’s Agent – List Price $2,490,000
- 8985 W. Quail Ridge Lane – Buyer’s Agent – List Price $2,795,000
- 8085 Glenwild Drive, Lot 712 – Listing Agent – List Price $530,000
- 7242 Lupine – Listing Agent – List Price $3,550,000
- 785 Mountain Holly – Co-Listing Agent – List Price $5,000,000
- 7488 Glenwild Drive, Lot 87 – Co-Listing Agent – List Price $1,400,000
Sotheby’s International Realty has an incredible real estate network with 20,000 sales associates in 990 offices in 72 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 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.