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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.
This also includes “coming soon” properties.
Strathmeade is a sought after neighborhood, with easy access to the beltway, a neighborhood pool, basketball courts, walking trails, tot lots and a great sense of community.
If you have questions about buying, selling or investing in one of these townhomes reach out to us today.
Strathmeade Square Market Updates
Neighborhood Data
| Year | # of Strathmeade Townhomes Sold | Average Sales Price |
|---|---|---|
| 2022 (Through August*) | 12 | $527,435 |
| 2021 | 10 | $486,000 |
| 2020 | 12 | $461,000 |
| 2019 | 12 | $434,000 |
| 2018 | 12 | $406,000 |
2022
The beginning of the year saw a sharp increase in the values of townhomes in the neighborhood.
Through August of 2022, there was a 8% increase in average sale price, on top of large annual increases over the last 3 years.
The highest sales price of a townhome was $630,000, an end unit on Glastonbury Ct, the larger of the end unit models.
As 2022 progressed, the mortgage rates have gone higher.
Since the rates went up, Strathmeade sellers have noticed: slightly longer days on market, less multiple offer situations and a moderation of rising sale prices.
Buyers enjoy the break from the bidding wars, but had to adjust to a higher monthly payment than the last few years.
However in a high interest rate environment it is easier to get a home as days on market increase.
The questions for 2023 become, will the rates continue to rise and what will that mean for the market?
Previous Market Notes
At the end of 2021, the interest rates 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, 2021 represented a near crisis level of inventory for sale, as there were less than half the number of homes available year over year.
Strathmeade has consistently seen 10-12 sales per year for the last 5 years.
The chart above shows the increase over the last few years in home values. There was about a 7% increase in townhome values in both 2019 and 2020 5.5% in 2021 and more than 8% in 2022.
Buyer demand was off the charts through the beginning of 2022, and sellers had a great opportunity to sell with multiple offers.
Get in touch with us today to get an estimate of what your townhome in Strathmeade Square can sell for.
I have lived in this neighborhood for many years, and have helped sellers and buyers in the neighborhood.
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 us and we will help you.
This quaint Annandale neighborhood has seen some strong appreciation over the years.
Selling for Top Dollar
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.
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.
As rates increase, buyer demand generally decreases and there are less sales and less price appreciation.
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.
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.
Inova has continued to build on their medical campus over the years and the Mosaic District and Dunn Loring have added lots to do.
Market Stats
Townhome Stats for Fairfax County
Here are some relevant market statistics for the county. These will give you a good idea of what you can currently expect if you are actively selling or buying.
These charts will automatically update as new data comes in for the previous month.
• Sold Price Vs. List Price
This shows average sold price against the average list price for currently for sale listings. This is sorted by month, over the last 2 years.
This stat helps see not only price appreciation, but also how close the sale price is to the homes list price.
• New Listings Vs. Closed Sales
This chart shows the number closed sales against the number of new townhomes listed in Fairfax County.
The more closed sales you see and less new listings, inventory is decreasing. The opposite can also be true if there are more new listings and less sales.
Keep in mind, listings generally take 14-60 days to close after they get a contract.
Amenities & Location
• Inova Fairfax Hospital
This is a major employer in the area if you are in the medical sector or services that surround it.
The campus has expanded over the years and also includes the Scharr Institute next door as well.
• Mosaic District
The bustling Mosaic District is a short distance away.
This urban town center has offered many amenities.
This includes dining (fast & sit down), department store, lots of small specialty shops,seasonal activities such as farmer’s market and roller skating and more.
There are also stores and shops that are right on the outskirts of the district.
• Dunn Loring & Metro
Dunn Loring just north of Mosaic and has some nice luxury condo buildings, restaurants and more.
The biggest attraction of this area is the metro stop on the orange line. For Strathmeade residents, you can get to the metro fairly quickly by bus, car, bike or even an ambitious walk.
• The Beltway
The Beltway, or route 495, is a major highway that connects many areas in Northern VA to other DC & Maryland routes.
Strathmeade Square is a quick drive to the Gallows Rd exit on the highway.
• Parks, Trails and Recreation
There are a large selection of parks and trails nearby.
Whether you are going for a long run/bike or want something to do with the kids you can find it.
• Fairfax City
Fairfax City has an Old Town district with some nice sit down restaurants and a splash pad area for kids.
They also traditionally hold annual events such as a “Chocolate Lover’s Festival”.
• Tysons Corner
Tysons is just a couple of exits north on 495 or can be accessed by metro train.
This area has a huge amount to do and see. It also is home to some major employers in the area.
Community
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 to Eakin Park.
There is a pool that is professionally managed along with a basketball court adjacent to it.
What is Next
This page is maintained and updated, and was re-published after a substantial rewriting.
Are you looking to buy a home in Strathmeade Square?
Thinking of selling your property?
We are experts in the neighborhood, and a I am a longtime homeowner in Strathmeade Square. Reach out below and let us know about your real estate goals.
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