What Can $1 Million Buy You in Richmond, Virginia?

The historic city currently has a handful of beautiful single-family homes on the market.

For many people who grew up on the East Coast, Richmond, Virginia is best known as a destination for school field trips. The historic town is one of the country’s oldest cities, home to Founding Fathers and any number of historical landmarks, including the St. John’s Church, where Patrick Henry delivered his “Give me liberty, or give me death!” speech, which persuaded the colony to raise a militia at the dawn of the Revolutionary War. But the state capital is more than just landmarks. It’s also home to more than 200,000 permanent residents and the fall line of the James River, which cuts through the center of the city. Because Richmond is geographically small, its residents are never far from the James, whether they live in the city’s Northside neighborhood, Museum District, or its bustling downtown.

At $208,700, the median home value in Richmond is just a bit lower than the national median of $216,700, but it’s rising fast. Home values in the city have been rising since 2012, and in 2018 they rose more than 10 percent, bringing the median above $200,000 for the first time. And that trend is expected to continue, with forecasts predicting another 6.2 percent increase in median value within the next year.

Richmond doesn’t have too many homes in the $1 million range, but the handful on the market are some of the most attractive in the city. Here are some of the best options.

For $995,000, each of the three-bed, four-bath condos at 5805 Grove in the Three Chopt neighborhood feature 2,272 square-feet of luxurious, modern style and amenities. The condos were built to the highest standards of energy efficiency, which will earn owners a $6,000 annual tax abatement. Each condo features an open floor plan, private balcony, granite countertops and custom cabinetry.

If you’re looking for a single-family home instead of a condo, this colonial four-bed, three-bath home in the Wilton neighborhood offers a more traditional setting. Just off the James River, on a private half-acre of land, the two-story brick house features a raised brick terrace and a stone patio encircled by trees. Inside, the 60-year-old home’s fully renovated interior features hardwood floors, transom windows and wide molding. Both the formal living room and the library include iron fireplaces and built-in shelving, and the massive dining room is lit by floor-to-ceiling windows. Upstairs, the master bedroom features walk-in closets and a spa-like bath and marble vanity.

Just south-east along the river, this five-bed, five-bath at 309 Hillwood Road is without a doubt one of the most unique and attractive homes on the market in Richmond. Listed at $1,095,000, it’s one of the pricier homes available, but it’s no mystery what you’re paying for. The Scandinavian-style home has more than 4,400 square feet of living space, with high ceilings, an open floor plan, and panoramic views. The home’s dual wings each include private cedar decks overlooking a poplar-tree-lined yard that wraps around the house. Throughout the home, neutral color palettes and matte finishes complement the nature outside, visible through oversized casement windows throughout.

In Windsor Farms, just north and west of Byrd Park, this Cape Cod style home at 3805 Sulgrave Road is preceded by a long, red-brick walkway cutting through the front lawn that makes up less than half of the .47-acre lot. Most of that land is behind the house, where a private deck and adjacent stone patio overlook a sprawling lawn enclosed by trees. Inside the home, the formal dining and living rooms are flooded with natural light from near-floor-to-ceiling windows. The open kitchen includes built-in custom cabinetry, a center island with seating, a wet bar, and double ovens with a large range stove. One of four bedrooms, the first-floor master suite has an expansive walk-in closet and ensuite bath.

There are currently a handful of other homes available in Richmond in the million-dollar range as well, most of them with three-to-five bedrooms, private decks or outdoor space and close proximity to the parks or the river. And as home values in the city continue to climb, now could be a good time to invest.