End-of-month spring in closed sales
There’s a push to close at the end of the month. The week ending April 2, 2023, demonstrated that jump, up 41.3% compared to a week ago. Closed sales still remain significantly below last year, as buyers face higher interest rates and a dearth of inventory.
New purchase contracts grow week after week
If new purchase contracts are an indication of sales in April, our region should expect growth in closed sales in the coming weeks. New purchase contracts have seen week-over-week improvement for 6 weeks in a row. New purchase contracts are unsurprisingly lower than the past two years, yet are showing the upward trend of spring buying.
Buyer interest makes steady gains
Showings reveal a similar trend to new purchase contracts. Showing activity is up week-over-week for 5 of the past 6 weeks. For the most recent week, ending April 2, 2023, showings are up 2.7%. Showings lag the typical 2019 level. As the year progresses, showings could converge with 2019 and late-2022 trends. The market has demographics on its side, but inflation, interest rate movements, and consumer sentiment will impact how many on the demand side can participate this year.
Take a trip to the Hidden Oaks Nature Center in Annandale, Virginia. Nestled inside the 52-acre Annandale District Park, the nature center offers live animal displays, exhibits, a pond, creeks, woodland trails, gardens, play areas, and a rain garden. You can also join a naturalist for a personal walking tour along the Old Oak Trail where you will roll logs, investigate critters and plants, and learn more about nature. The Nature Center is open from 9am – 5pm every weekday except Tuesdays and weekends from noon to 5pm. There is no cost to visit the park or nature center.
Local Business Highlight
Solo Restaurant and Pizza hit the Leesburg restaurant scene in 2013 with a focus on fresh, locally sourced ingredients. Owner and founder Said Mehenni believes that using the best possible ingredients is the key to creating delicious and memorable dishes. The restaurant’s menu features a variety of Italian-inspired dishes, including wood-fired pizzas, homemade pasta, and fresh salads. Said and his team are constantly experimenting with new flavors and techniques, and the menu changes seasonally to reflect the availability of fresh ingredients.
In addition to its delicious food, Solo Restaurant and Pizza is known for its warm and welcoming atmosphere. Said and his team are passionate about providing guests with a memorable dining experience, and they go above and beyond to ensure that everyone who walks through the door feels at home. Whether you’re looking for a romantic date spot or a family-friendly restaurant, Solo Restaurant and Pizza is the perfect choice.
The Festival of Spring at Burnside Farms in Nokesville kicked off on Tuesday, April 4th and runs through April 26th. Featuring 15 acres of tulips and 5 acres of daffodils, the farm will be awash in color. There are literally millions of flowers with more than 150 varieties of tulips and 30+ varieties of daffodils! Bring your own basket or borrow one from the farm if you wish to pick and purchase flowers from the field. The farm also has picnic tables so you can pack a lunch or grab a bite from one of the food trucks onsite. For information about tickets and other tips for your visit, click here. You can also check the daily field report here.
Would you like to try rock climbing but prefer the comfort of being indoors? Well you are in luck! There are several climbing gyms throughout Northern Virginia where you can take classes and learn to climb in a safe and comfortable environment, and they offer a wide range of climbing routes for all skill levels from beginner to expert.
Sportrock is one of the founding rock climbing gyms in the US with locations in Sterling and Alexandria. Their Alexandria location features the tallest walls in the mid-Atlantic while their Sterling location offers a dedicated kids climbing area! Both locations offer classes and programs for all ages, parties, team building activities, scout programs, and more.