📝 Why Are Homes Slowing Down in Some of Richmond’s Hottest Neighborhoods?
📍 The Fan, Museum District, Byrd Park & Westover Hills
By Gary Martin, GM Real Estate Associates | Keeton & Co
If you had told me last year that homes in The Fan would sit on the market for more than a week, I’d have laughed—and checked the calendar to make sure it wasn’t 2009. But here we are.
🏡 In neighborhoods like The Fan, Museum District, Byrd Park, and even Westover Hills—where properties often sparked bidding wars before the sign hit the lawn—there’s a noticeable market shift happening. The same charming homes that were flying off the shelf just a year ago are now sitting… and waiting.
Let me be clear: homes are still selling—especially the well-priced, well-presented ones. But they’re not selling at the same breakneck speed we got used to. Buyers are becoming more discerning. Interest rates are still having their moment. And lifestyle priorities are shifting.
But here’s the twist…
💰 Homes in the Near West End are still commanding top dollar.
That corridor is holding strong, especially under the $1.5M mark. But cross that threshold? You’ll notice it too: high-end listings above $1.5M are sitting for weeks—some even months. Just last year, those homes had buyers circling like hawks within 24–48 hours.
🔍 What’s going on?
It’s not panic time. It’s pattern recognition. The higher-end luxury buyer is now:
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Taking longer to decide
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Comparing more properties
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Expecting more value (and more narrative)
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Watching interest rates with a closer eye
📊 What this means for sellers:
Now, more than ever, presentation, pricing, and positioning are everything. A beautiful home in a great neighborhood isn’t enough—it needs a compelling story, strategic exposure, and thoughtful targeting to connect with the right buyers.
📣 If you’re thinking of listing this summer or fall, we need to talk strategy—not just comps.
Because what worked in 2023 may not fly in Q3 2025.
This market rewards clarity, creativity, and adaptability. That’s exactly how I help my clients navigate these micro-shifts and stay ahead of the curve—especially in neighborhoods we’ve all loved for years.
📩 DM me if you’d like a quick pulse check on your home or a no-pressure strategy session. Let’s keep you informed—and in control of your next move.
