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Most Aggressive Neighborhoods in Richmond

Most Competitive Neighborhoods in Richmond


Pondering of shopping for a home? Think about house-hunting in Richmond, VA. The River Metropolis is well-known for its historical past and position within the Civil Conflict, commemorated with fascinating museums and historic websites, full of life meals scene, and quick access to the James River. Mixed with a rising job market and reasonably priced housing, it’s no surprise 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 house, 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 houses obtain a number of gives, some with waived contingencies, with houses are promoting in beneath every 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 houses bought above record value: 91%
Houses on the market in Oxford

Positioned in Richmond Metropolis County, Oxford is a quiet neighborhood that’s conveniently situated between many purchasing choices, mountain bike trails, and parks. Mixed with a Compete Rating of 96, Oxford can be one of the vital aggressive neighborhoods to purchase a home in Richmond, VA. With a median sale-to-list ratio of 109%, patrons ought to be ready to face some stiff competitors with a purpose to rating their dream house on this aggressive neighborhood. 91% of houses bought above their record value and spend solely 6 days in the marketplace. 

2. Westover Hills

Compete Rating: 92
Median sale value: $505,000
Common sale-to-list ratio: 107%
Share of houses bought above record 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 slender one-way streets. Residents of Westover Hills take pleasure in entry to many close by outside locations, together with river entry factors, climbing, biking trails, Byrd Park, Maymont, and Forest Hill Park. Patrons searching for houses in Westover Hills ought to count on a robust 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 houses are bought above record value and with median days on market clocking in at 8 days – spending much less time in the marketplace than Richmond at 11 days. 

3. Jahnke

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

Named after the principle highway that runs via the neighborhood, Jahnke Street (State Route 686), lies Jahnke, situated within the Southside area of Richmond. Jahnke has a Compete Rating of 90, with most houses getting a number of gives, typically with waived contingencies. Patrons searching for houses in Jahnke ought to count on a robust 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 in the marketplace earlier than going beneath contract. 

4. Rosedale

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

Need quick access to the town? Think about home looking in Rosedale. Most houses in Rosedale had 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 houses. Rosedale has a Compete Rating of 90, making it one of the vital aggressive neighborhoods to purchase a home in Richmond. Houses spend solely 5 days in the marketplace on common and 64% of houses promote above record value. Patrons searching for houses in Rosedale ought to count on a robust 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 houses bought above record 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 group. Forest Hill has a Compete Rating of 90, with most houses getting a number of gives, typically with waived contingencies, and sometimes promoting inside 10 days. With a median sale-to-list ratio of 107%, patrons ought to be ready to face some stiff competitors to attain their dream house on this aggressive neighborhood.

6. Mary Munford

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

Look no additional than Mary Munford if you’d like 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 houses getting a number of gives, some with waived contingencies. 67% of houses bought above record value and median days on market clocks in at 8 days – 3 days sooner than houses in Richmond at 11 days. 

7. Carytown

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

Nestled within the coronary heart of Richmond and bordered by Thompson Road to the west and Arthur Ashe Boulevard to the east lies Carytown. Residence to the historic Byrd Theater and well-known for being Richmond’s first strip purchasing middle, 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 be one of the vital aggressive neighborhoods to purchase a home in Richmond, VA. 63% of houses bought above record 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 houses bought above record 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 group, it comes as no shock why houses in Bellevue sometimes solely spend 6 days in the marketplace earlier than going beneath contract. This neighborhood is ideal for patrons searching for a walkable place to dwell simply exterior of the bustle of the town, however they should act shortly. Bellevue has a Compete Rating of 88. Many houses get a number of gives, some with waived contingencies, and 70% of houses bought above their record value. 

9. Fulton Hill

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

On the lookout 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 houses bought above record value and median days on market clocks in 8 days – spending much less time in the marketplace in comparison with Richmond at 11 days. Mixed with a median sale-to-list ratio of 104%, patrons searching for houses in Fulton Hill ought to count on a robust 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 record 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 houses bought above record 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 open air. Homebuyers scouting out the world can count on competitors as houses promote at document speeds on this scorching neighborhood, spending solely 10 days in the marketplace. Cedarhurst additionally has a Compete Rating of 87, which suggests many houses get a number of gives, some with waived contingencies.

Methodology

Compete Rating charges how tough it’s to win a house in an space. Utilizing a mix of Redfin knowledge and knowledge from the a number of itemizing providers (MLS), Compete Rating is primarily calculated based mostly on 4 inputs: variety of competing gives, waived contingencies, sale to record 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 the next value and different half at a lower cost.

The rankings for best neighborhoods embrace neighborhoods with a minimum of 25 bought houses throughout the final 12 months for which Redfin has Compete Rating knowledge. The rankings on this report mirror a median of month-to-month stats from January via December 2021.



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