Woodland Heights
The original Woodland Heights brochure, first published in 1891
"The first impression is, that no place could be more desirable as to location. Lying on the bend of the river opposite Richmond and adjoining Manchester, it commands an extensive view."
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The Woodland Heights neighborhood in Richmond City’s Southside began as a trolley car neighborhood that initially grew in the early 1900’s along the James River beside Forest Hill Park. Residents flock to Woodland Heights for its charming homes that include American Four Squares, bungalows and Colonial Revivals. It is close proximity to the river that allows for kayaking, canoeing, mountain bike and running trails. The sidewalks connect the neighborhood to local businesses including Laura Lee’s, WPA Bakery and Coqui Cyclery and more.
And now back to the lyrical original brochure:
"... being far enough away from the hum of busy city life, solemnity is added to the view, and it impresses the beholder, alike for its grandeur and beauty, as for its historical associations.
The Woodland Heights Market at a glance...
How is the real estate market in the Woodland Heights area? Please note that "Woodland Heights area" includes the Historic District of Spring Hill, as well as Fonticello Park, giving us a larger data set from which to draw conclusions. In the last 12 months, houses sold for a median sales price of $365,000, with a median of 7-days DOM (days on market). Additionally, the median list-price-to-sales-price percentage was 104.11%. Translation: houses sold over list price … and quickly!
Many people in the real estate industry claim that there is low inventory – with fewer houses coming on the market, causing multiple offers and higher-than-list-price contracts. While it is true that there are multiple contracts on a property, according to the Woodland Heights area statistics, it appears that there was higher inventory and sales in 2021 than pre-pandemic 2019. In 2021, 103 houses were listed for sale, and in pre-pandemic 2019 there were only 59 sales. More so than low inventory, it was 2021’s low interest rates that contributed strongly to the 38% increase in sales price from 2019. In 2021, the average interest rate was 2.79%, compared to 4.75% in 2019. Cheaper money affords home buyers the purchasing power to pay higher prices without saddling themselves to unbearable monthly mortgage payments. The next six months will be telling as we watch interest rates increase again. We don't foresee any slow-down in the market, but there’s good reason to anticipate prices leveling-out in 2022. With its incredible amenities and proximity to downtown, the Woodland Heights area will remain a strong market. Even an interest rate hike won't slake that demand.
Woodland Heights fave - Laura Lee’s (3410 Semmes Ave)