Meadowbrook Farm Estates is the new planned community that will be bordered by Rt 15, Evergreen Mill Road and Masons Lane. It is debatable whether or not this new community will be good for the residents of Woodlea Manor given the impact it will have on traffic and the schools, but how will it affect the home values in our neighborhood? In my opinion, very little.
The most recent new development that compares to Woodlea Manor is Evergreen Meadows which is adjacent to Simpson Middle School. The neighborhood is within the town limits, offers similar access to the toll road and has homes with similar lot sizes and square footage. Yet, when homes in Evergreen Meadow first came on the market, they had little influence on values in Woodlea Manor. To this day, Evergreen Meadow has an average settled sales price that is significantly less than Woodlea Manor.
When homes in Meadowbrook Farm Estates come on the market, it will present a more clearly defined choice for potential buyers. Most homes in Woodlea will be over 20 years old at that point. Many home buyers will simply prefer new construction. But I believe it will be impossible for buyers to drive into Meadowbrook Farm Estates once it’s complete and not feel as if it wasn’t built on farm land, because that is exactly what it was. Few neighborhoods in Loudoun can claim a more aesthetically pleasing entrance as Woodlea Manor. The houses are set back from the roads appropriately and the size of the houses are in proportion to the lot size. Changes in elevation and mature landscaping contribute to the sense that Woodlea Manor has a unique “feel” compared to other subdivisions in Leesburg.
Woodlea has always enjoyed a very favorable reputation when it comes to the neighborhoods in Leesburg. One factor that I believe is often overlooked is its convenience factor. Even with Meadowbrook under construction, Woodlea will still offer a very convenient location. Access to the old town Leesburg is within 2 miles but more importantly is the access to Rt 267 or rather the Greenway. The Greenway is a toll road that begins in Leesburg and extends to Dulles Airport and then further to Rt 495 (the Washington Beltway) Although the told road isn’t cheap, with a typical one way toll of almost $5, it is incredibly convenient. The Greenway can be accessed from Woodlea Manor in about fine minutes. Masons Lane provides a quick cut through to the toll road and with the development of Meadowbrook community, this road will most likely be expanded and widened.
Meadowbrook Farm Estates will definitely not be a “newer” version of Woodlea Manor. With its mixed use commercial space, Meadowbrook will appeal to a different type of home buyer. In my opinion, we will not see stagnating values here in Woodlea Manor once single family homes in Meadowbrook Farm Estates are listed on the market. For those of you that have updated your kitchen and bathrooms, your home will still be highly desirable. Even homes without updates should find a market that has buyers looking for an established neighborhood with a great reputation.
If you would like to discuss the current real estate market and how it may affect you, give me a call. I’d be glad to help.
To learn more about the Woodlea Manor community you can check out their community page here.
Visit my Woodlea Manor page to learn all about Woodlea Manor and what it’s like to live in the community.