Correction: The list below has been updated with a different sale in the No. 5 spot. Data supplied by CVRMLS did not include condo sales. The Westhampton on Grove unit sold at a higher price than the house previously listed at No. 5, so it now rounds out the list.
For a third consecutive month, the priciest home sales in the region were led by two deals that topped the $2 million mark — though this time both were below asking price.
Topping the list for August was 3 Greentree Drive, a 7,400-square-foot house off River Road in Henrico that sold Aug. 26 for $2.32 million, below its $2.49 million listing in late May.
The buyer is W. Martin Davenport Jr., according to Henrico property records. Davenport is an executive with The Byrd Theatre Foundation, the nonprofit that owns the historic movie house in Carytown.
Davenport was represented by Stephanie Caperton with The Steele Group | Sotheby’s International Realty. She said Davenport was drawn to the property’s privacy and natural surroundings when he put it under contract a few weeks after it hit the market.
“When we walked in, I saw the look on their face and thought it was the ideal home for them, and they thought it was the ideal home for them,” she said. “It’s a home to entertain family and friends, and the home is surrounded by nature, which they love.”
The sellers were Doug and Palmer Garson, who worked with Long & Foster’s Richard Buckingham. The couple purchased the house in 1998 for $877,000. The county most recently assessed the roughly 3-acre property at $1.36 million.
The Garsons are downsizing to River Road’s Randolph Square, a subdivision farther west in Goochland County. Doug is a co-founder of KME3 Consulting, a business coaching firm, and Palmer is a managing director at Silvercrest Asset Management Group.
While other high-end homes sold over the summer came in significantly above list price, with bidding wars driving up sales in some cases by hundreds of thousands of dollars, Buckingham said the Greentree deal was free of competing offers.
“I think the market’s shifting,” Buckingham said. “Not every listing is selling above list price with competing offers.”
Added Caperton: “I think it was good timing. We came in at the right time.”
Updated with interior and exterior renovations, the two-story brick colonial has five bedrooms, six bathrooms and two half-baths. It was built in 1967 for C. Braxton Valentine Jr., a local attorney and member of Richmond’s Valentine family.
The first and second floors feature nine-foot ceilings, and a lower level opens up to the pool and hardscapes. The house includes a wine chiller, screened porch and four fireplaces, and the property also has a hot tub and children’s playhouse.
Coming in at No. 2 on the list was 1839 Monument Ave., a 7,500-square-foot mansion that sold Aug. 5 for $2.12 million. The three-level colonial revival, on the southeast corner of Monument and Meadow Street, likewise sold below its asking price of $2.25 million.
City property records list the buyers as Richard and Yana Morris. They were represented by Joyner Fine Properties’ Richard Bower, who listed the house in late February.
Steele Group’s Laura Peery represented the sellers, listed in records as Roger and Janet Tutton. They purchased the home in 2001 for $1.06 million. The quarter-acre property most recently was assessed by the city at $1.78 million.
Totaling 20 rooms with seven bedrooms and 5½ bathrooms, the house was built in 1908 and designed by noted Richmond architect W. Duncan Lee. The first floor has two front parlors, a smoking room and a banquet-sized dining room, and the back of the house includes a curved terrace facing gardens and a patio. The property also includes a detached three-car garage.
Rounding out the top five sales for August were, according to the Central Virginia Regional Multiple Listing Service:
- 102 Berkshire Road, Windsor Farms, Richmond – $1.94 million. Listing agent: Katherine Hill, Shaheen, Ruth, Martin & Fonville Real Estate; buyer’s agent: Eliza Branch, Long & Foster.
- 3901 Sulgrave Road, Windsor Farms, Richmond – $1.76 million. Listing agents: Graham Johnson and Wayne Johnson, Coldwell Banker Avenues; buyer’s agent: Graham Johnson, Coldwell Banker Avenues.
- 5706 Grove Ave. unit 301 (condo), Westhampton on Grove, Richmond – $1.62 million. Listing agent: Pam Diemer, Long & Foster; buyer’s agent: Pam Diemer, Long & Foster.
It would be interesting to see if Stephanie’s comment is in fact the case, that the residential “market is turning”. Or, if it’s just turning at the top of that market. Congrats though to Martin Davenport for the purchase.