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Most Aggressive Neighborhoods in Richmond


January 18, 2022 by

Up to date on January 18th, 2022

Pondering of shopping for a home? Contemplate house-hunting in Richmond, VA. The River Metropolis is well-known for its historical past and position within the Civil Warfare, commemorated with attention-grabbing museums and historic websites, energetic meals scene, and quick access to the James River. Mixed with a rising job market and inexpensive housing, it’s no marvel why persons are flocking to this vibrant metropolis. 

Whether or not you’re a first-time homebuyer or seasoned property proprietor on the hunt for a brand new dwelling, be ready to face some stiff competitors in most neighborhoods. Every of the Richmond-area neighborhoods listed under has a Redfin Compete Rating above 89, which suggests many properties obtain a number of provides, some with waived contingencies, with properties are promoting in beneath per week in most neighborhoods. Listed below are the highest 10 best neighborhoods in Richmond to purchase a home proper now.

1. Oxford

Compete Rating: 96
Median sale value: $400,000
Common sale-to-list ratio: 109%
Share of properties bought above checklist value: 91%
Houses on the market in Oxford

Positioned in Richmond Metropolis County, Oxford is a quiet neighborhood that’s conveniently positioned between many purchasing choices, mountain bike trails, and parks. Mixed with a Compete Rating of 96, Oxford can also be one of the aggressive neighborhoods to purchase a home in Richmond, VA. With a median sale-to-list ratio of 109%, consumers must be ready to face some stiff competitors in an effort to rating their dream dwelling on this aggressive neighborhood. 91% of properties bought above their checklist value and spend solely 6 days available on the market. 

2. Westover Hills

Compete Rating: 92
Median sale value: $505,000
Common sale-to-list ratio: 107%
Share of properties bought above checklist value: 78%
Houses on the market in Westover Hills

Flanked by Stratford Hills to the West and Forest Hill to the East, Westover Hills is a primarily residential neighborhood identified for its many slim one-way streets. Residents of Westover Hills get pleasure from entry to many close by out of doors locations, together with river entry factors, mountain climbing, biking trails, Byrd Park, Maymont, and Forest Hill Park. Patrons in search of properties in Westover Hills ought to count on a powerful housing market with much less wiggle room over the sale value, boasting a median sale-to-list ratio of 107%. With a Compete Rating of 92, 78% of properties are bought above checklist value and with median days on market clocking in at 8 days – spending much less time available on the market than Richmond at 11 days. 

3. Jahnke

Compete Rating: 90
Median sale value: $297,000
Common sale-to-list ratio: 104%
Share of properties bought above checklist value: 86%
Houses on the market in Jahnke

Named after the primary highway that runs via the neighborhood, Jahnke Street (State Route 686), lies Jahnke, positioned within the Southside area of Richmond. Jahnke has a Compete Rating of 90, with most properties getting a number of provides, typically with waived contingencies. Patrons in search of properties in Jahnke ought to count on a powerful housing market with much less wiggle room over the sale value. The typical sale-to-list ratio is 104%, and houses sometimes spend solely 5 days available on the market earlier than going beneath contract. 

4. Rosedale

Compete Rating: 90
Median sale value: $333,000
Common sale-to-list ratio: 105%
Share of properties bought above checklist value: 64%
Houses on the market in Rosedale

Need quick access to the town? Contemplate home looking in Rosedale. Most properties in Rosedale have been constructed between 1930 and 1960, and the neighborhood is well-known for its many one-story cottages, bungalows, and two-story Colonial and Tudor-style properties. Rosedale has a Compete Rating of 90, making it one of the aggressive neighborhoods to purchase a home in Richmond. Houses spend solely 5 days available on the market on common and 64% of properties promote above checklist value. Patrons in search of properties in Rosedale ought to count on a powerful housing market with much less wiggle room over the sale value with a median sale-to-list ratio of 105%.

5. Forest Hill

Compete Rating: 90
Median sale value: $426,500
Common sale-to-list ratio: 107%
Share of properties bought above checklist value: 73%
Houses on the market in Forest Hill

Positioned alongside the James River in Richmond, Forest Hill is legendary for its charming homes and sense of neighborhood. Forest Hill has a Compete Rating of 90, with most properties getting a number of provides, typically with waived contingencies, and sometimes promoting inside 10 days. With a median sale-to-list ratio of 107%, consumers must be ready to face some stiff competitors to attain their dream dwelling on this aggressive neighborhood.

6. Mary Munford

Compete Rating: 89
Median sale value: $386,900
Common sale-to-list ratio: 106%
Share of properties bought above checklist value: 67%
Houses on the market in Mary Munford

Look no additional than Mary Munford in order for you handy entry to purchasing and eating choices and the downtown expressway however nonetheless far sufficient away from the hustle and bustle of the town. Positioned close to Carytown and the Museum District, Marey Munford has a Compete Rating of 89, with many properties getting a number of provides, some with waived contingencies. 67% of properties bought above checklist value and median days on market clocks in at 8 days – 3 days quicker than properties in Richmond at 11 days. 

7. Carytown

Compete Rating: 89
Median sale value: $405,000
Common sale-to-list ratio: 104%
Share of properties bought above checklist value: 63%
Houses on the market in Carytown

Nestled within the coronary heart of Richmond and bordered by Thompson Avenue to the west and Arthur Ashe Boulevard to the east lies Carytown. House to the historic Byrd Theater and well-known for being Richmond’s first strip purchasing heart, Carytown is ideal for homebuyers looking for a primarily residential neighborhood with loads of issues to do. Mixed with a Compete Rating of 89, Carytown can also be one of the aggressive neighborhoods to purchase a home in Richmond, VA. 63% of properties bought above checklist value and median days on market clocks in 7 days.

8. Bellevue

Compete Rating: 88
Median sale value: $385,000
Common sale-to-list ratio: 107%
Share of properties bought above checklist value: 70%
Houses on the market in Bellevue

Effectively-known for its charming homes, a thriving retail district, proximity to Bryan Park, and tight-knit neighborhood, it comes as no shock why properties in Bellevue sometimes solely spend 6 days available on the market earlier than going beneath contract. This neighborhood is ideal for consumers in search of a walkable place to stay simply outdoors of the bustle of the town, however they should act rapidly. Bellevue has a Compete Rating of 88. Many properties get a number of provides, some with waived contingencies, and 70% of properties bought above their checklist value. 

9. Fulton Hill

Compete Rating: 88
Median sale value: $225,000
Common sale-to-list ratio: 104%
Share of properties bought above checklist value: 64%
Houses on the market in Fulton Hill

Searching for a quiet and dog-friendly neighborhood? Fulton Hill is the neighborhood for you. This neighborhood has a Compete Rating of 88, with 64% of properties bought above checklist value and median days on market clocks in 8 days – spending much less time available on the market in comparison with Richmond at 11 days. Mixed with a median sale-to-list ratio of 104%, consumers in search of properties in Fulton Hill ought to count on a powerful housing market with much less wiggle room over the sale value. To not point out, Fulton Hill has the bottom median sale value of the neighborhoods on this checklist at $225,00, decrease than Richmond’s at $290,000. 

10. Cedarhurst

Compete Rating: 87
Median sale value: $315,000
Common sale-to-list ratio: 105%
Share of properties bought above checklist value: 60%
Houses on the market in Cedarhurst

Cedarhurst is a quiet neighborhood close to Forest View and Jahnke, with loads of strolling trails to benefit from the outdoor. Homebuyers scouting out the realm can count on competitors as properties promote at file speeds on this scorching neighborhood, spending solely 10 days available on the market. Cedarhurst additionally has a Compete Rating of 87, which suggests many properties get a number of provides, some with waived contingencies.

Methodology

Compete Rating charges how tough it’s to win a house in an space. Utilizing a mix of Redfin information and information from the a number of itemizing companies (MLS), Compete Rating is primarily calculated based mostly on 4 inputs: variety of competing provides, waived contingencies, sale to checklist ratio, and variety of days on market. 

The median sale value represents the determine at which half of the properties within the space promote at a better value and different half at a lower cost.

The rankings for best neighborhoods embody neighborhoods with not less than 25 bought properties throughout the final 12 months for which Redfin has Compete Rating information. The rankings on this report replicate a median of month-to-month stats from January via December 2021.


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