Strathmeade Square Townhomes
Whether you live in a townhome here now, or are looking to buy in Strathmeade Square, welcome.
This page will be updated occasionally with market updates, and constantly updated with new listings in the community.
Strathmeade is a sought after neighborhood, with easy access to the beltway, a pool, basketball courts, walking trails, tot lots and a great sense of community.
If you have questions about buyer, selling or investing in one of these townhomes reach out to me.
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Strathmeade Square is tucked in behind Inova Fairfax Hospital. The community is walkable to the hospital, and can be done without going on a main road.
The community is also very close to the amenity filled Mosaic District. This gives the residents a great option for a night out to eat or for drinks and a movie.
It is also right off of 2 exits on 495, Gallows Rd and Rt 50. From here, you can quickly get to 66, 395, 95 and many other roads with important numbers for your commute.
Strathmeade Square is a quick ride to Dunn Loring Metro Station.
Community is a big part of what makes Strathmeade Square a special cluster of townhomes. The HOA is very active.
They organize seasonal events, cleanups and make sure everyone has a chance to meet their neighbors.
A walking trail runs through the community, and connects eventually into Inova Fairfax Hospital. It also leads close to Eakin Park.
There is a pool that is professionally managed along with a basketball court adjacent to it.
Strathmeade Square Market Updates For Neighbors
At the end of 2021, the interest rates have crept up slightly, with more increases predicted by experts over the next year.
However, the market has stayed strong in Strathmeade Square. The average sale price increased another 5.5% this year judging by the 10 sales that have occured as of November.
Inventory of townhomes in Fairfax County has remained low relative to past years in October of ’21.
These last 2 years represent the market that the Coronavirus created. The market only very briefly contracted, followed by a surge in home values, and a correlating plummet in number of homes for sale.
This environment started with the fed cutting interest rates, which resulted in record low mortgage rates. The shortage of homes for sale was already an issue before the pandemic, and after the increased demand fueled by low rates has gotten more intense.
In Fairfax County, there is less than half the inventory of last year, and a 8.5% year over year increase in price for townhomes.
Now, Strathmeade Square is a small community, and we have seen 12 townhomes sold per year here the last 3 years. Surprisingly on pace again for 12 sales this year.
The chart below shows the increase over the last few years in home values. There was about a 7% increase in our townhome values in both 2019 and 2020.
If you are looking to sell, 2021 is an incredible time to do so, especially if you are moving into a market that is not as competitive as ours.
Buyer demand is off the charts, which means you can profit more from your sale in less time.
Get in touch with me today to get an estimate of what your townhome in Strathmeade Square can sell for.
|Year||# of Strathmeade Townhomes Sold||Average Sales Price|
|2021 (Nov.)||10 (on pace for 12)||$486,000|
I have lived in this neighborhood for 4 years as of this update, and owned the property for 7 years (I rented it out before that). Read a little bit more about my investing adventure here.
If you want a Strathmeade Square expert to ask questions about this neighborhood, look no further. If you have questions now, get in touch with me and I will help you.
Ok, so now for the facts. This quaint Annandale neighborhood has seen some strong appreciation in the last 5 years.
Sometimes, a picture is worth a thousand words. Which is good. Less writing for me.
You can see from the graph, that the average townhome sold price has steadily gone up from the high $300,000 range, to the low-mid $400,000 range.
Of course, Strathmeade Square is a small community in Annandale VA. So this graph only shows part of the story. Of the 60 homes that have sold in Strathmeade Square in Annandale in 2013-2019, many have undergone changes.
Updates are an essential factor to selling a townhome in a community like Strathmeade Square, and one you may be looking for yourself if you are curious about buying.
The record sale in the community was not the biggest, it was the most updated. As of this writing, the smallest model on Decourcey Ct Sold for $469,000.
It was open, clean, bright and the updates were very in style. See the photo, it is a kitchen you can envy.
The market has been strong, but has seen a particular surge since the rates have taken a surprising downward turn in 2019.
When rates go down, it is good for you if you are buying because homes become more affordable. But can be difficult because lower rates usually mean a very competitive market in a lot of neighborhoods.
For sellers, it is positive because there are multiple offers on many properties. Depending on what your plan is next, you may be going into a similar situation as a buyer. We can help with that situation.
Low rates and high demand have helped values in the area along with the development and future development plans for the mosaic corridor which include redeveloping the area across the road. The area is best known for being ready to be redeveloped.
If you are buying, The location has made Strathmeade Square very desirable. More desirable as the last 5 years have gone by with new developments.
The hospital is building a new medical campus and will be developing even more of a footprint than Amazon.
Long Term Outlook
All the development in the area has helped Strathmeade Square. Over the long term, more jobs are being added to the area. There are also more plans for future growth in the area.
What is Next
Are you looking to buy a home in Strathmeade Square?
Thinking of selling your property?
I am expert in the area, and a longtime homeowner in Strathmeade Square. Reach out below and let me know about your real estate goals.