News Peed

Tree House in Museum District Backyard Sells for $1.2 Million

RICHMOND, Va. — The latest example of the seller’s market for Richmond real estate manifested itself when a tree house in the backyard of a home on the 3300 block of Grove Avenue sold for $1.2 million last week, sources confirmed today.

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The 5 foot by 6 foot tree house, which occupies the sole tree in the family’s backyard and features one room of living space and half a roof, appeared on Zillow last week with a list price of $1.1 million. After a couple days of offers and negotiations between multiple bidders, the successful buyer (who has remained anonymous) and the seller, 8-year-old Taylor Brackett, settled on a purchase price of $1.2 million.

The tree house was constructed just last year, making it relatively young compared to many of the other houses in the neighborhood. Sharon Dapson, an agent with Keller Williams Realty, spoke about the deal in a recent interview.

“We were happy to represent Brackett in his real estate endeavors, and we can confidently say that $1.2 million for a custom-built tree house that affords 30 square feet of living space is a great price for the location,” Dapson stated, adding that comparable tree houses have been sold at similar prices since the start of the year. “In January we saw a luxury tree house on Monument Avenue sell for $1.31 million, and we’re currently representing a splendid wooden home in a strong pine tree in a Stuart Avenue backyard for $1.6 million.”

Dapson also said that both homeowners and tree house owners are looking for rustic charm in their homes these days; she credits this tree house’s minimal cabin-like atmosphere for the quick sale.

“It’s not uncommon for properties like these to close within a week of going on the market. It really speaks volumes to what people are willing to pay to live in a neighborhood full of older homes that don’t have as many modern amenities.”

In addition to the tree houses, Dapson mentioned that a dog house located in Windsor Farms was also in the process of being listed for $550,000. The seller, a 4-year-old purebred Staffordshire bull terrier, moved into the house as a puppy in 2016.

At press time, Brackett was seen at a stand outside of his parents’ Grove Avenue home, pursuing his next entrepreneurial endeavor, offering $95 glasses of organic farm-to-table lemonade to local passersby.

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