In a medium saucepan, combine the hulled and halved strawberries, granulated sugar, lemon juice, and water.
Bring the mixture to a boil over medium-high heat, stirring occasionally.
Reduce the heat to low and simmer for 10-15 minutes, stirring occasionally, until the strawberries have broken down and the sauce has thickened.
For a smoother sauce, you can mash the strawberries with a fork or potato masher while simmering. Alternatively, for a completely smooth sauce, you can carefully transfer the sauce to a blender or use an immersion blender after cooking.
Remove from heat and let cool slightly before serving. The sauce will thicken further as it cools.
Notes
Store leftover strawberry sauce in an airtight container in the refrigerator for up to a week.