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!
New listings have fallen off.
There are fewer new listings in Loudoun County compared to prior years. For the week ending May 21, 2023, new listings are lower than the prior week by 37%. While we haven’t seen a typical seasonal spring uptick, new listings are moving on an upward trajectory from the beginning of the year. The next few weeks will show if the buying season will be extended and continue making slight gains or return to the typical downward movement following a May peak.
Homes sold saw a decent bump week over week.
New listing activity is lower, but the number of homes sold week over week increased 40% showing that buyer demand is still strong. In addition the closed to list price ratio was 102.23% last week versus the week prior’s ratio of 100.89% indicating strong competition for the homes that are on the market.
New purchase contracts on the rise.
New contracts were up by 18% week over week. This is another indication that buyers are still active. Limited inventory however, continues to constrain purchase activity but if we see listing activity increase, we could see further increases in new contracts in the coming weeks.
Take the kids back in time with a night at the drive -in! It’s a bit of a drive, but the Family Drive-In Theater in Stephens City is worth the trek. This 65-year old drive-in features two movies each night and offers the latest box office hits. This weekend’s shows include The Little Mermaid, Guardians of the Galaxy 3, Super Mario Bros., and Fast X!
Local Business Highlight
Axes and Os
Did you know that axe throwing is an internationally recognized sport? It’s also a fun alternative to the traditional bar and restaurant entertainment scene! Sound interesting? Then you need to check out Axes and Os in Sterling, VA. It is a fantastic venue for group outings that combines the excitement of axe throwing with a delicious menu of food and beverages. It’s not just a great way to spend time with friends – they also host corporate events and private parties. Don’t worry if you have never thrown an axe before, each session begins with a safety briefing and coaching on technique.
What better way to kick off the summer season and have some family fun than to head out to one of the area’s waterparks?! Northern Virginia offers several great options:
Atlantis Waterpark – Centreville, VA – Located at Bull Run Regional Park, Atlantis Waterpark features waterslides, pools, and a 500 gallon dumping bucket!
Great Waves Waterpark – Alexandria, VA – Located at Cameron Run Regional Park, Great Waves Waterpark features waterslides, a wave pool, and a splash pad. In addition to the water attractions, there is also a play area with climbing structures and slides, batting cages, and mini golf.
Ocean Dunes Waterpark – Arlington, VA – Located at Upton Hill Regional Park, Ocean Dunes Waterpark features waterslides, waterfalls, a 500-gallon dumping bucket, and squirters. There are also batting cages, mini golf, a 90 element vertical climbing adventure, and numerous nature trails located next to the waterpark.
Pirate’s Cove Waterpark – Lorton, VA – Located at Pohick Bay Regional Park, Pirate’s Cove Waterpark features waterslides, splash pads, and a 300-gallon dumping bucket. There is also a large sand play area and picnic area.
Volcano Island Waterpark – Sterling, VA – Located at Algonkian Regional Park, Volcano Island Waterpark features a large main pool, waterslides, fountains, squirters, and a 500-gallon dumping bucket. There is also a splash pad with showers, sprinklers, water cannons, and more. You can also play a round of mini golf right next door.
The Water Mine Family Swimmin’ Hole – Reston, VA – Located at Lake Fairfax Park, The Water Mine features more than an acre of slides, flumes, sprays, showers, and interactive play features. There is also a lazy river with an easy current that gently nudges tubes along.
Tired of the same old bar scene? Why not try the Alexandria Ghost Tour Pub Crawl? Your costumed guide will lead you through dark alleys, past ominous rowhouses, and along the banks of the Potomac while sharing tales of warfare, treachery, and tragic love stories. The tour explores some of the most well-known haunted locations in Alexandria with stops at a variety of pubs along the way for you to purchase some liquid courage!