Just days after a $9 million sale set a new record for Richmond city home sales, a 17-acre estate in Hanover County has hit the market with a price tag nearly as high. The 9,000-square-foot house at 13259 Greenwood Church Road, known as “Ivy Knoll,” listed on Aug. 24 for just under $8 million.
Richmond BizSense reporter Jonathan Spiers first covered the listing, describing a home built around one owner’s dream of living in a castle, complete with two turrets, an Italian fountain at the entrance, and a “Jungle Room” covered floor to ceiling in hand-painted tropical murals with an octagonal bar built in.
A Home Designed Around a Dream, Not a Floor Plan
Built in 2019 by Ashland-based Premier Structures, the house has five bedrooms, four full bathrooms and two half-baths, spread across a wooded 17-acre lot in Hanover County. Sellers Dustin and Holly Ferrara worked with landscape architect Steven Koprowski on the grounds, which include a heated screened porch, a putting green with LED-illuminated cups, a saltwater heated pool with water spouts, a hot tub between fire bowls, and a three-car garage. Holly Ferrara, who owns Ivy Knoll Designs, designed the home herself, with one of the listing agents telling BizSense that “the turret came first and the rest of the house followed.”
The Ferraras bought the raw land back in 2016 for $130,750. Hanover’s county assessor now values the finished property at $2.3 million, well below the near-$8 million asking price, a gap that is typical for one-of-a-kind estates that are hard to comp against anything nearby.
Part of a Strong Year for Ultra-Luxury Sales
This listing is one of several $7 million-plus properties to hit the Richmond market in 2026. In August, Hill Crest, a Tudor Revival mansion on Cary Street Road in the city, sold for just over $9 million, setting a new city record. A roughly 300-year-old estate in Goochland County has been listed since July at $17 million, and a Manakin Sabot mansion tied to former NBA player Ben Wallace went under contract in August after listing at $6.9 million.
What It Signals for Hanover’s High End
Taken together, this cluster of estate-level sales suggests the top of the Richmond market has had real staying power this year, and Hanover is very much part of that story, not just a spillover from the city or western Henrico. Buyers shopping in this tier tend to be less sensitive to mortgage rates and more focused on land, privacy and a home that cannot be easily replicated, which is exactly the pitch behind a custom build like this one. For sellers elsewhere in Hanover County or nearby Henrico County with unique or high-acreage properties, continued activity at this price point is a good sign that patient, well-marketed listings are still finding buyers, even without in-person showings yet on this one.
If you are the kind of buyer who is curious about this tier but has never toured or financed a home like it, know that estates this size typically call for specialized lending and a longer runway between listing and closing than a typical single-family home. Hanover’s mix of large-acreage parcels and easy access back toward Richmond has also made it a draw for buyers cross-shopping communities we have covered before, including the new Stillwater Village development near Hanover’s airport corridor, and for anyone weighing commute time, our guide to Richmond neighborhoods with a short drive to the airport is a useful companion read.
Exploring the Luxury Market in Hanover?
Whether you are curious what a property like this says about values in your own neighborhood or you are ready to start touring homes in this tier, our team can help you navigate financing and the search itself. Get a free home valuation, connect with one of our preferred lenders who work with high-value purchases, or reach out through Buy With Us to start a search.
Curious what else is available at the top of the market? Browse current luxury listings across the Richmond area.
Frequently Asked Questions
Where is this $8 million Hanover estate located?
The property, called Ivy Knoll, is at 13259 Greenwood Church Road in Hanover County, on a 17-acre lot.
How big is the house and when was it built?
The house is about 9,000 square feet with five bedrooms, four full bathrooms and two half-baths. It was built in 2019 by Ashland-based Premier Structures.
What is the Jungle Room?
It is a room inside the house covered floor to ceiling with hand-painted tropical murals and built with an octagonal-shaped bar.
Why are the sellers listing the home?
Sellers Dustin and Holly Ferrara are making a second home in Florida their primary residence, according to their listing agent.
What is the asking price and how does it compare to the county’s assessed value?
The home is listed at just under $8 million. Hanover’s county assessor valued the property at $2.3 million this year, a common gap for one-of-a-kind luxury estates.
Is this the most expensive home listed in the Richmond area this year?
No. A roughly 300-year-old Goochland County estate has been listed since July at $17 million, making it the priciest listing so far in 2026.
Has the Richmond area seen other high-end home sales recently?
Yes. In August, the Hill Crest mansion on Cary Street Road in Richmond sold for just over $9 million, setting a new city record.
Who is representing the Ivy Knoll listing?
The home is listed with Daniel Heider of TTR Sotheby’s International Realty and Laura Peery of The Steele Group, a local Sotheby’s affiliate.
Do I need special financing to buy a home in this price range?
Estates at this price point typically require specialized high-balance or portfolio lending, and working with a lender experienced in jumbo loans is generally recommended.
Written by the Mission Realty Team — meet the team. Real Broker LLC, 3701 Cox Rd, Richmond, VA 23233. (804) 601-4960.
