A monthly update of the real estate market in Church Hill from Jeanne Bridgforth via ChurchHillStats.com.
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MARKET COMMENTARY / March 2015
Single Family Residences
11 new listing came on the market with the lowest list price of $18,000 and the highest, $524,950.
20 went under contract with an average list price of $214,965, average days on the market was 26
20 units closed. Minimum sale price was 18, 500 with highest sale price being $435,000
5 new listings came to market with an average list price of $216,670
4 units went under contract with an average list price of $190,575 with an average of 2 days on the market
2 units closed with an average sale price of $206,200 with an average of 16 days on the market.
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March Madness brought with it an explosion of activity on Church Hill, particularly Church Hill North.
A restoration project oon the 2500 block of O Street was unveiled in a presentation to the Historic Richmond’s Quoit Club in late March, over 100 members attended. The project, called, “Netherwoods” (TOP) consists of 8 attached historic brick structures and plans for one newly constructed home to round off the block towards N. 25th St. The project is named after James Netherwood, noted stone contractor who’s iconic works include: Old City Hall, the Mann-Netherwoods block on E. Broad Street, the Lee Monument and the Soldiers and Sailors Monument. Prices for the homes will range from $285,000-$325,000.
Netherwoods’ developer is DeWorth Restoration Associates and Deanna Lewis’ Heirloom Restorations is the contractor.
Sterling Bilder’s renovation of the historic East End Theatre is transforming the deteriorated structure into 22 residential units with ground floor commercial space. The project is projecting a June completion. The $4 million project will add fuel to the remarkable development North of Broad. Word is a restaurant with other locations throughout the city will occupy the commercial space.
Just two blocks away from the theatre, Sterling Bilder next plans to develop the Nolde Garage at 313 N. 24th St. Dubbed, “Patrick Henry Square,” Bilder plans on transforming the garage into 17 apartments, a commercial space on the first level, and a 2-story 1800 sf community center. St. Louis-based, Lawrence Group, and NY-based Sebastian Quinn, architect, are designer for both Sterling Bilder projects.