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New North Highland Park homes listed at almost twice median value

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Posted at 11:57 AM, Jun 05, 2018
and last updated 2018-10-04 16:26:44-04

RICHMOND, Va. — A pair of modern-design homes recently built in North Highland Park is introducing a housing product – and price point – not typically seen in the neighborhood in Richmond’s Northside.

The rectangular-shaped, contemporary-style homes along Carolina Avenue east of Meadowbridge Road stand in stark contrast to the American Foursquares and other 1920s-era houses that line the neighborhood.

One of the new homes – 3501 Carolina Ave., the first of the two to be put on the market – is under contract to be purchased, with an asking price of just under $400,000.

The 2,200-square-foot home, with three bedrooms and 2½ bathrooms, originally was listed in February at $450,000 and reduced May 15 to $399,900. Within a week of the price change, the house was put under contract, said Bernice Sim of Re/Max Commonwealth, who listed the home with fellow Re/Max agents Wally Hughes and Steve Kirby.

Should the sale close as scheduled later this month, it will be significantly higher than the neighborhood’s median sale price of $150,000, according to real estate company Redfin. The national brokerage’s website puts the median list price for North Highland Park at $205,000.

The homes were built by DynQuest Properties, made up of local homebuilder Stephen Harrell and business partner Henry Mere. The Fairfax-based company, started in 2016, builds and remodels homes in Virginia and Maryland.

Harrell said the Carolina Avenue homes are the company’s first new construction in Richmond, where they have previously worked on projects in collaboration with the Richmond Redevelopment & Housing Authority, according to DynQuest’s website.

The company previously rehabbed a home on Northside Avenue in Highland Terrace, and Harrell said it soon will start construction on two modern-design, 3,500-square-foot homes on Lakeview Avenue in Byrd Park.

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