Welcome to your weekly 5 Things Friday post where we cover the Loudoun county real estate market, fun things to do, and new things to try in the NoVA area!
The Market
Pending sales increase.
We saw a big increase (35%) week over week in pending sales, indicating strong buyer demand despite the lack of homes to choose from. Mortgage rates dipped a bit last week which likely contributed to the spike as well as some buyers feeling the pressure to find a home before their lease runs out or the summer starts.
New listings aren’t coming to the rescue.
New listings continue to remain flat week over week and unseasonably low for this time of year. As we wait for the spring market to show itself, buyers are trying their best to compete in the current market.
Competition for home continues.
One of the direct impacts of low inventory is buyers competing for the same homes. This is driving up home prices as buyers are being forced to offer over list price. The average list price to close price ratio increased week over week by almost 1% and that small percentage can make a big difference in home prices and buyers ability to purchase.
Showings are trending with 2019 levels.
While there are week over week differences, overall showing volume is following the 2019 volume. This indicates how much variability there can be locally and week over week.
Family Fun
“Do you like green eggs and ham? I do not like them, Sam-I-am. I do not like green eggs and ham.” I bet a lot of you reading this can fill in the next line without picking up a book or searching the internet! These famous words are from the Dr. Suess book Green Eggs and Ham and you probably read it more than once when you were young and many more times if you have children.
Now you can step into the pages of the wondrous world of Dr. Suess in an imaginative and interactive immersive experience at Tyson Corner Center. The Dr. Suess Experience features familiar characters like Cat in the Hat, Thing 1, and Thing 2, a mirrored carousel, interactive exhibits, a room full of truffula trees, and lots more. The experience runs through the end of May and tickets are required.
Local Business Highlight
Initially envisioned as a bed and breakfast, Bear Chase Brewing Company was born out of an idea conceived by five close friends. The founders quickly transformed the property into a premier bed and breakfast lodge, but also saw more potential in the 35 acre estate. In their efforts to create a destination farm brewery, they repurposed parts of the property to be one with the land and keep in line with the history of the property. The original farm barn serves as the Brew Barn and reclaimed timber can be found in the Taproom.
The brewery features a spacious taproom with rustic decor and a cozy fireplace, making it the perfect place to relax and enjoy a cold beer with friends. Visitors can choose from a variety of beers on tap, including IPAs, stouts, lagers, and seasonal brews. In addition to beer, Bear Chase Brewing also offers a food menu with a selection of appetizers, sandwiches, and pizzas. The brewery hosts regular events, such as live music, trivia nights, and food truck rallies, making it a popular destination for locals and tourists alike.
Outdoor Activities
The Northern VIrginia area offers tons of great options for day hikes. If you are looking for a short family-friendly and dog-friendly hike, head out to Bears Den in Bluemont, VA. The hike takes visitors through a forested stretch of the Appalachian Trail to a scenic overlook. The views are to the west, so it is a great sunset hike.
Just past the overlook you will find Bears Den Trail Center which provides restrooms if you need to make a stop. Bears Den is popular not just because of its ease and views, but also because it is less than ½ mile from Bear Chase Brewery which features craft beer, delicious food options, and live music.
Try This!
Looking for something different to do than your usual weekend adventures? If you haven’t tried an escape room, you should definitely give them a try.
Escape rooms offer an immersive experience that entices you to step out of your comfort zone and embark on a thrilling adventure. It’s a unique opportunity to test one’s problem-solving skills, teamwork, and ability to think critically under pressure. Whether you are seeking a fun activity to enjoy with friends, a team-building exercise for colleagues, or simply a way to challenge yourself, escape rooms offer a captivating blend of excitement and mental stimulation. From deciphering codes to unraveling mysteries, every step in an escape room brings a surge of adrenaline and a sense of accomplishment upon solving each puzzle.
These immersive environments encourage collaboration, communication, and creativity, fostering a sense of camaraderie and shared achievement. Trying an escape room promises an unforgettable experience filled with excitement, challenge, and the opportunity to unlock your hidden potential while creating lasting memories with those around you.
So grab a few friends or teammates and challenge yourselves to the many theme options available at Escape Room LoCo!
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