Richmond’s mansion market was well-stocked this year, and high demand kept the listings rolling.
There was at least one million-dollar closing almost every month in 2014, and many of the high-end homes sold within just a few weeks of hitting the market. May was the only exception, with its top-selling house barely missing the million-dollar mark at $995,000.
Laura Lafayette, CEO of the Richmond Association of Realtors, couldn’t point to a single reason for the influx of high-end homes on the market but said 2014 was a good year.
“It was probably the best year we’ve had – certainly since the recession – in terms of that kind of inventory,” Lafayette said. “There was good inventory in that price range, and they seemed to move pretty well.”
It was also a big year for mansions with notable Richmond names attached to them. Well-known developer Hank Wilton, former chairman of the Wilton Cos., sold his family’s estate in the second-highest priced sale of the year for $3.45 million in March.
And convicted developer Billy Jefferson’s Monument Avenue mansion sold for $1.7 million in November.
Prominent names showed up on the buyer’s side, as well. In January, Robert S. Ukrop Jr. of the Ukrop’s grocery family bought a $1.68 million house in Goochland County.
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