Time to contract shows competition. The median time to contract or Days on Market is holding steady at less than one week. There’s a continued push and pull between demand and supply as consumers watch interest rates and feel economic uncertainty, but homes that are priced correctly for their location, features, and condition are often seeing multiple offers the first weekend on the market.
Showings haven’t sprung yet. Spring is a popular time for real estate activity. More light and warmer days encourage buyers to visit their next potential home. Yet showing activity for the week ending March 19, the first after daylight savings, is down 1.9% week-over-week. Showings are down compared to 2022, and also below 2019 levels. HOWEVER, this is not necessarily an indicator of decreasing demand, but likely a result of lack of inventory. New listings are down 17.1% from last week and down 43.2% from a year ago. The coming weeks will determine whether the typical bounce for spring will return or if housing supply will continue to impact the market.
Real estate professional help with shifting markets. During the fall, two out of five (41%) active listings had a price drop while on the market. The week ending March 19, 2023, about 20% of active listings had a price drop. Sellers, buyers, and agents all understand it isn’t 2022 anymore. Inventory remains tight as FEWER new listings have entered the market in 2023 than last year. Whether sellers or buyers have more sway on the price depends on the local market and the individual listing.
Check out Candytopia at Tysons Corner
This candy-themed traveling exhibit is perfect for anyone with a sweet tooth – just don’t tell your dentist! It features 14 interactive environments that includes an art gallery, marshmallow pit, a confetti room with confetti-farting pigs, and much more in the 16,000 sqft. exhibit space. Located on the lower level of Tysons Corner Center, Candytopia is here through the end of May. The exhibit is open daily from 10 a.m. to 8 p.m., but you will need tickets.
Local Business Highlight
One of our favorite small businesses in Loudoun County is the award winning Blend Coffee Bar. It is a cozy and welcoming coffee shop located in Ashburn, Virginia. The interior is tastefully decorated with comfy couches, wooden tables, and warm lighting, creating the perfect environment for sipping a latte and catching up with friends or getting some work done. When the weather is nice you can enjoy their huge outdoor patio – perfect for bringing along your four-legged family members.
But Blend is a lot more than just a coffee shop! They offer a menu of delicious food options, including breakfast sandwiches, salads, and pastries, and they also serve beer, wine, and a handful of mixed drinks.
In addition to serving great coffee and food, Blend Coffee Bar also hosts a variety of events throughout the year. They regularly feature live music performances from local artists, as well as open mic nights where aspiring musicians and comedians can showcase their talent. The shop also hosts game nights, trivia nights, a German Christmas Market, and other fun events, making it a hub for socializing and community-building in the Ashburn area.
Be sure to check out Blend Coffee Bar the next time you are in the Ashburn area. You won’t be disappointed!
With its picturesque countryside and rolling hills, it’s no surprise that Northern Virginia is home to numerous equestrian centers and horse farms. Whether you’re a seasoned rider or a beginner, there are plenty of opportunities to enjoy horseback riding in the region.
One of the best things about horseback riding in Northern Virginia is the variety of trails and landscapes available to explore. From the historic Battlefields of Manassas to the lush forests of Shenandoah National Park, there’s something for everyone. From camps to birthday parties to trail rides, there are tons of options across the Northern Virginia region. Here are a few places to check out: Chase Run Stable, Marriott Ranch, Red Fox Creek Farm.
Have you ever thought that you would love the thrill of skydiving but you are too scared to jump out of a perfectly good airplane? Then you should check out indoor skydiving at iFly. That’s right, INDOOR skydiving!
iFLY offers individuals the chance to experience the thrill of skydiving without having to jump out of a plane. Participants suit up in a specialized jumpsuit and helmet, and then step into a wind tunnel that simulates the experience of freefalling through the sky.
One of the biggest advantages of indoor skydiving at iFLY is the safety factor. The wind tunnel provides a controlled and safe environment, with trained instructors providing guidance and support throughout the entire experience. Participants also have the option to fly alone or with a group of friends, making it a fun and unique bonding experience. Whether you’re a seasoned skydiver or a first-time flyer, indoor skydiving at iFLY is an activity that anyone can enjoy.