History of Burke Village HOA
Burke Village, nestled in Fairfax County, Virginia, is a community with roots that trace back to the early 19th century. The area was named after Silas Burke, a prominent figure in the 19th century who owned significant land in what is now known as Burke. The modern development of Burke Village as a planned community, however, began in the latter half of the 20th century, aligning with the suburban expansion around Washington D.C.
The Burke Village Homeowners Association was established to manage and maintain the quality of life within this community. Like many HOAs, its primary objective has been to oversee the communal areas, enforce regulations that maintain property values, and foster a sense of community among residents. Over the years, Burke Village has evolved from rural farmland into a well-developed residential area with a mix of housing types, including single-family homes, townhouses, and condos.
Demographics of Burke Village
Burke, encompassing areas like Burke Village, has a population of approximately 44,228 (as per the latest available data). The demographic profile of Burke Village reflects Fairfax County’s diversity, with a significant portion of residents identifying as White, Asian, and Hispanic. The median age in Burke is around 39.6 years, suggesting a mix of young families and established professionals.
Ethnic Composition:
White: Significant majority
Asian: Notable minority
Hispanic: Growing presence
African American: Smaller but present community
Income and Education:
Median Household Income: Approximately $172,432, indicating a higher socio-economic status compared to many other areas.
Education: A high percentage of residents hold at least a bachelor’s degree, with many in professional, scientific, and technical services.
Homeownership:
The homeownership rate is about 88.3%, which is higher than the national average, reflecting a stable, community-oriented environment.
Real Estate Trends in Burke Village
Housing Market:
Property Values: In November 2024, the median list price in Burke was around $619,950, with trends showing an increase in property values year over year. Homes in Burke Centre, part of Burke Village, had a median price of $649,000, up by 11.2% from the previous year.
Inventory: The real estate market in Burke has seen a decrease in inventory, with only 68 homes for sale in November 2024, down from previous months. This scarcity has contributed to rising prices and competitive buying scenarios.
Days on Market: Homes in Burke sold quickly, with an average of 18 days on the market in November 2024, which is notably faster than broader market trends, suggesting high demand.
Selling Prices: A significant portion of homes sold above asking price, with 59.1% in Burke and 33% in Burke Centre, indicating a seller’s market. However, in Burke Centre, 47% of homes sold under asking, suggesting some market variability.
Community Influence:
HOA Impact: The Burke Village HOA plays a crucial role in maintaining property values through stringent regulations on home aesthetics, landscaping, and community facilities. The HOA’s oversight ensures that the area remains attractive to prospective buyers, contributing to the sustained or increasing property values.
Amenities and Lifestyle: Burke Village offers numerous amenities like parks, community centers, and proximity to Burke Lake Park, enhancing its appeal and influencing real estate trends by attracting families and outdoor enthusiasts.
Broader Market Influences:
Location: Burke’s proximity to Washington D.C. and major employment hubs like Tysons Corner makes it an attractive location for commuters, further bolstering real estate demand.
Transportation: Access to the Virginia Railway Express (VRE) and major highways facilitates commuting, making Burke Village a desirable place for those working in or near the capital.
Economic Factors: The robust local economy of Fairfax County, supported by high median incomes and a well-educated workforce, underpins the real estate market’s strength in Burke Village.
Conclusion
Burke Village HOA has not only preserved the historical essence of the area but has also been instrumental in shaping a vibrant, diverse, and economically stable community. The real estate market here reflects broader trends in Northern Virginia, with high demand, escalating prices, and a community-focused lifestyle. As Fairfax County continues to grow, Burke Village is likely to remain a focal point for those seeking a balance between suburban tranquility and urban accessibility.
This analysis was compiled from various web sources reflecting current trends and historical data, providing an in-depth view of Burke Village’s past, present, and potential future.
