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Real Estate Buyers Guide: Church Hill, Union Hill, Fulton Hill

Richmond Magazine’s 2015 Real Estate Buyers Guide is a look at “high-demand neighborhoods, communities on the rise and new frontiers”. The piece gives specify mention to Church Hill, Union Hill, and Fulton Hill:

CHURCH HILL Richmond’s oldest neighborhood has seen multiple cycles of ebb and flow since its establishment in the 1700s, and it’s been on a steady revival for decades now, as more adventurous buyers have been renovating long-neglected homes. The neighborhood’s footprint is growing north and east, thanks to an increase in destination dining, plus a core community of civic-minded homeowners intent on preserving the district’s historic character. Although our review of the area’s 2014 sales shows modest activity (our listing looks only south of Broad Street), local agents say houses this spring are selling within just a few days of listing. And the average selling price has gone up more than 15 percent over the past five years, another indication of the seller’s leverage here.

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FULTON HILL You are a young, first-time homebuyer hunting for an area with smaller, less-expensive homes that have character and could use a little TLC. Your frontier may be the East End neighborhoods of Montrose Heights and Fulton Hill, where you’ll find bungalows mixed with newer, affordable single-family homes. Here, you have elbowroom and a bit of insulation from the urban rumble, while staying close to the city center. Within a year or so, you’ll be a short bike ride or manageable walk from the Stone Brewing Co.’s first East Coast location on the riverfront, also not far from Rocketts Landing. “I talk to a lot of people and say, ‘If you can’t afford Church Hill, you should probably consider Fulton Hill,” says Matt Smith of MSE Properties. Kelly Trask of One South Realty adds that Montrose and Fulton offer “a lot of house for not too much money.”

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UNION HILL As older city districts draw more demand from first-timers and move-up buyers, nearby neighborhoods are getting the spillover of demand. Anchored by Jefferson Park, which overlooks the northeast face of the city skyline, Union Hill is an urban pocket that’s stirring with diversity from new renters, existing residents and those willing to invest in architectural rehab. Walkable dining and food options — Alamo BBQ, The Roosevelt, Metzger Bar & Butchery, Sub Rosa Bakery and the new Union Market — are evidence of a neighborhood where transformation is well underway.