Richmond Records $9.1 Million Home Sale
A Tudor Revival mansion set a new city record in August. A Goochland estate involving 97 acres also closed. One buyer resold a portion of the land within weeks.
A $9.1 million sale at 5103 Cary Street Road became the most expensive residential transaction in Richmond history. The deal closed on August 17, surpassing the previous record of $9 million set in 2024. The buyer used a limited liability company and paid in full with cash.
The purchase price was below the initial $10 million listing price. The transaction did not involve a buyer’s agent. Holly and John Martin of SRMF Real Estate represented the seller. This sale leads the recent high-end market activity in the region.
Goochland land deal involves 97 acres
A six-parcel assemblage sold for $3.7 million on August 19. The property includes a home at 1887 Sheppard Town Road and five adjoining lots. The total area covers approximately 97 acres.
The buyer is an LLC tied to developer Rob Chesson. He purchased the home parcel along with the five additional lots. The seller was Crit Richardson, represented by Scott Ruth and Scott Shaheen. The home was originally listed with two lots for $2.9 million.
Chesson has relisted the 34-acre home parcel for $2.2 million. The listing went live on September 4. He retains the other five lots for development purposes. The home features 6,300 square feet, five bedrooms, and five bathrooms.
Nearby mansion sells for $3.5 million
The third-highest sale of the month was 104 E. Hillcrest Ave. It closed for $3.5 million on August 3. This price is slightly below the April list price of $3.59 million. The house is located near the record-setting Cary Street Road property.
The 7,300-square-foot residence has six bedrooms and six bathrooms. Previous owners bought it in 2020 for $1.2 million. They completed renovations that included new windows and European-sourced doors. Elizabeth and Robert Nelson are the current buyers.
Market data shows cash purchases
According to GN auto markets/housing: home sales, these transactions highlight a shift toward all-cash deals. The Hill Crest buyer avoided using a traditional agent. The Goochland buyer acquired the entire assemblage to protect the main house. These actions suggest strategic investment rather than pure residential demand.
The Goochland home was assessed at $1.38 million. The listing describes it as an equestrian estate with fenced pasture. The Hill Crest property is a Tudor Revival style home. It features steep roofs and stone chimneys. These details define the current top tier of the local market.
