Second Quarter 2020 Glenwild Market Update
By Molly Campbell, July 3, 2020
One single-family home went under contract during the second quarter of 2020, and six new single-family listings came on the market during the same period, bringing the total number of homes on the market in Glenwild at June 30, 2020 to sixteen homes. One lot sale closed during the second quarter and two lots went under contract. Summit County’s shelter-in-place order for Coronavirus that began near the end of March was lifted on May 1, 2020, and it’s likely that real estate activity in the second quarter was impacted by this order.
The one Glenwild home that is pending sale is 7512 Purple Sage and is listed at $3.3 million. The home was built in 2004 and offers four bedrooms and almost 7,500 square feet. It’s been on the market for 206 days, and that transaction is expected to close soon.
The lot that sold in the second quarter of 2020 was lot 23 at 1560 Snowberry. The 7.8 acre lot was listed at $999,0000 and sold on the last day of April. The two lots that went under contract during the second quarter were lot 150 at 560 Hollyhock priced at $638,000 for 1.47 acres and lot 2 at 1059 Snowberry priced at $775,000 for 1.54 acres.
There were sixteen homes actively listed for sale in Glenwild as of June 30, 2020. Two of the 16 homes are to-be-built homes where construction has not yet begun, and one home on Lot 94 is currently under construction. The listing prices for the 16 homes on the market range from $2,390,000 for 8035 Glenwild Drive up to $9,250,000 for 8066 Red Fox Court. The average asking price for the sixteen homes on the market is $5,043,438 or $567 per square foot.
As of June 30, 2020 there were seventeen 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 at the end of the second quarter was $698,139.
The Preserve, Ranches at The Preserve, Goshawk Ranch & Stagecoach Estates
In the communities surrounding Glenwild, there were no single-family homes sales in the second quarter of 2020. However, in June two homes went under contract: 1496 W. Red Hawk Trail priced at $2,600,000 million and 9356 Red Hawk Trail priced at $3,395,000. In terms of land, three lots sold in the second quarter: a 60 acre lot in Ranches at The Preserve listed at $2,900,000, an 8.14 acre Preserve lot listed at $650,000, and a 6.15 acre Preserve lot listed at $495,000. Additionally, two adjacent lots in Ranches at The Preserve priced at $550,000 and $595,000 are pending sale and one lot in Stagecoach Estates priced at $449,900 is pending sale.
Single Family Homes: With only one closed sale thus far in 2020, Glenwild’s average single-family sale price is much lower than normal. With more sale activity, Glenwild is likely to return to the number one average sale price. The one pending sale in Glenwild is listed at $3.3 million, and the average listing price for the 16 homes on the market as of June 30 was just over $5 million, which will likely bring the average sale price more back in line with the number posted at year-end 2019 of $3,294,958.
Vacant Land: At the end of the second quarter of 2020, Glenwild posted the second-highest average land sale price at $645,167 and the largest average lot size of the communities on the list at 3.72 acres. Victory Ranch ranks number one in terms of average sale price and average sale price per acre, bolstered by the unique sale of a $1 million+ lot along the Provo River front in the 1st quarter of 2020. Red Ledges posted the second highest average sale price per acre at $729,716 with 16 lot sales in the first and second quarters.
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 7181 Glenwild Drive (lot 65). 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 and unmatched luxury property marketing. 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.
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 to 2019
RealTrends America’s Best Realtors – 2019