In this week’s update:

🔑 Spring Housing Market Gaining Momentum in Northern Virginia: The spring housing market is picking up in Northern Virginia, with new listings on the rise and buyer activity staying strong. While more homes are hitting the market, demand remains high, keeping competition tight in key areas.

🏟️ Casinos, Concert Venues, and Sports Facilities on the Rise: Virginia’s tourism scene is booming with new casinos, concert venues, and sports complexes driving growth. From the expansion of gaming to major entertainment projects, the state is becoming a top destination for visitors and events.

🧩 Jeopardy! Brings Trivia and Festivities to D.C. in April: Jeopardy! is bringing a three-day showcase to D.C. from April 10 to 12, featuring university visits, a live podcast taping, and Ken Jennings as the grand marshal of the National Cherry Blossom Festival Parade.

Driving the news: Virginia-based metal fabrication company TST Fab & Machine is investing $3 million to expand its Norfolk headquarters, adding 56 jobs and strengthening its support for the U.S. Navy.

Details:

• TST specializes in sheet metal fabrication, laser cutting, welding, and machining for military and industrial use.

• The company was formed in 2021 through the acquisition of two fabrication shops in Norfolk and Chesapeake.

• The expansion is backed by the Virginia Economic Development Partnership, the Hampton Roads Alliance, and Norfolk city government.

• TST is owned by retired U.S. Navy Commander Russell S. Turner and COO Shawn Kuhle, reinforcing its strong ties to national defense.

Why it matters: This investment boosts Virginia’s manufacturing sector while strengthening the Navy’s supply chain. The addition of 56 skilled jobs supports economic growth in Norfolk and ensures the region remains a hub for advanced manufacturing.

The big picture: Virginia continues to attract and support veteran-owned businesses, particularly those tied to defense and infrastructure. The state’s investment in manufacturing helps secure jobs, drive innovation, and maintain critical defense capabilities.

Between the lines: TST’s expansion highlights the demand for high-precision fabrication in military applications. By using materials like stainless steel, copper, nickel, and titanium, the company is playing a key role in supplying the Navy with mission-critical components.

What’s next: With backing from state and local agencies, TST is set for long-term growth. The company’s continued expansion could mean more job opportunities and a stronger industrial presence in the region.

The bottom line: TST Fab & Machine’s growth is a win for Virginia’s economy, the manufacturing sector, and national defense efforts.

Driving the news: New listings are on the rise in Northern Virginia as sellers prepare for the spring housing market. Meanwhile, buyer activity remains strong, with pending contracts increasing in key areas.

Details:

• New listings in the Greater D.C. region reached 2,050, up 20.5 percent year-over-year and 10.5 percent from last week.

• The median list price in the region stands at $624,990, reflecting a 3.1 percent increase from last year.

• Pending contracts rose 12.1 percent from last week, showing that buyers are still actively searching despite interest rate concerns.

• Southern Maryland markets like Calvert and Charles counties saw a surge in new listings, potentially linked to federal government workforce changes.

• Showings in the D.C. area increased 8.6 percent from last week, indicating steady demand.

Why it matters: As inventory levels rise, buyers may have more options heading into the busy spring market. However, demand remains strong, meaning well-priced homes are still moving quickly.

The big picture: The housing market in Northern Virginia is adjusting to economic shifts, including potential impacts from federal workforce changes. Areas with more available homes, like Calvert and Charles counties, are seeing increased buyer activity.

Between the lines: Some homeowners may be listing their properties due to job changes, including return-to-office mandates. If this trend continues, the region could see a sustained increase in housing supply in the coming weeks.

What’s next: Expect more homes to hit the market as sellers position themselves for the spring season. Buyers should be prepared to act quickly, as demand remains high in many sought-after areas.

The bottom line: The Northern Virginia housing market is heating up, with more listings and strong buyer interest. Whether you're looking to buy or sell, staying informed on market trends will be key in the coming months.

Exciting transformations are underway in Downtown Washington, DC! Discover the massive changes coming in 2025 that will reshape the city's landscape and vibe.

Driving the news: Virginia’s entertainment and tourism industry saw major growth in 2024, with new casino openings, sports complexes, and concert venues driving economic expansion. More projects are set to open in 2025 and beyond.

Details:

• Virginia’s three casinos generated $732.2 million in revenue in 2024, a 32 percent increase from the previous year.

• Caesars Virginia in Danville opened its permanent casino in December 2024, following Hard Rock Hotel & Casino Bristol’s grand opening in November.

• New casinos are on the way, including Norfolk’s recently approved casino and Petersburg’s $1.4 billion Cordish Cos. project, which voters overwhelmingly supported.

• Richmond’s 7,500-seat Allianz Amphitheater is set to open in June, while The Dome in Virginia Beach will debut in May as part of the $350 million Atlantic Park project backed by Pharrell Williams.

• The 2.67-acre surf lagoon at Atlantic Park and CarMax Park, the new stadium for the Richmond Flying Squirrels, are set to boost Virginia’s sports scene.

• Henrico County and Chesterfield County expanded their sports facilities, including new baseball fields and turf complexes. Williamsburg broke ground on a new sports and events center, expected to open in 2026.

• Norfolk is planning a tournament-caliber ice rink complex and a renovation of the 10,000-seat Scope Arena, with $58.5 million allocated for improvements.

Why it matters: Virginia’s growing entertainment sector is attracting tourists, creating jobs, and boosting local economies. The expansion of casinos, concert venues, and sports facilities strengthens the state’s appeal as a destination for leisure and events.

The big picture: With billions being invested in tourism and entertainment, Virginia is becoming a hub for gaming, live music, and sports. These projects are not only bringing in visitors but also supporting surrounding businesses and infrastructure.

Between the lines: The surge in casino developments shows strong demand for gaming, while the expansion of sports venues and entertainment districts signals confidence in Virginia’s ability to host major events.

What’s next: As new venues and attractions open, Virginia’s tourism industry is expected to see continued growth in visitor spending, job creation, and community investment.

The bottom line: From casinos to concert halls, Virginia is betting big on entertainment, and it’s paying off with increased revenue and a stronger economy.

Driving the news: Barnes & Noble is expanding again, with a new store opening in Gainesville’s Shops at Stonewall on March 19. This marks another step in the bookseller’s nationwide resurgence after years of store closures.

Details:

• The store is located at 8139 Stonewall Shops Square, in the former Bed Bath & Beyond space.

• Doors open at 9 a.m. with author Audrey Ingram cutting the ribbon and signing copies of her books, including The River Runs South and The Group Trip.

• The new store features books, toys, games, gifts, and a B&N Café.

• Barnes & Noble has been growing rapidly, following recent openings in Manassas and Georgetown.

• The company plans to open over 60 new bookstores in 2025 after more than a decade of declining store numbers.

Why it matters: Gainesville residents will now have a local bookstore to browse, bringing a fresh literary hub to the community. Barnes & Noble’s expansion also signals a comeback for brick-and-mortar bookstores, proving that in-person book shopping is far from dead.

The big picture: After years of closing locations, Barnes & Noble is seeing a revival with strong sales and a growing number of new stores. Gainesville’s opening is part of a broader strategy to reinvest in physical retail spaces and reconnect with local readers.

Between the lines: The return of Barnes & Noble reflects a shift in consumer habits, where book lovers are valuing curated selections and community-driven spaces over online shopping alone.

What’s next: With more stores set to open nationwide, Barnes & Noble is betting on a long-term future for bookstores. Gainesville’s new location could become a key gathering place for book events and local readers.

The bottom line: Barnes & Noble is making a big comeback, and Gainesville’s new store is proof that the love for bookstores is alive and well.

Driving the news: Jeopardy! is heading to Washington, D.C. for a three-day event from April 10 to 12, featuring university visits, a live podcast taping, and a special appearance at the National Cherry Blossom Festival Parade.

Details:

• Jeopardy! will host multiple events across the city, including stops at local universities.

• A live taping of the Inside Jeopardy! podcast will take place at the Lincoln Theatre, offering behind-the-scenes stories, game analysis, and interviews with past contestants.

• Ticket details for the podcast taping will be announced on Jeopardy!’s website and social media.

• On April 12, host Ken Jennings will serve as grand marshal for the National Cherry Blossom Festival Parade, which runs along Constitution Avenue NW from 10 a.m. to 12:30 p.m.

• Parade tickets are available now, priced between $25 and $40.

Why it matters: This event brings Jeopardy! fans a unique opportunity to experience the show beyond the screen. It also adds extra excitement to D.C.’s already vibrant cherry blossom festivities, making it a can’t-miss weekend for trivia lovers and festival-goers alike.

The big picture: As Jeopardy! continues to engage with fans beyond the studio, its presence in D.C. highlights the growing trend of interactive and live experiences tied to popular TV shows.

Between the lines: With Ken Jennings leading the parade and live podcast recordings in the works, this event is as much about celebrating Jeopardy! as it is about drawing in new audiences.

What’s next: More details, including ticket sales for the live podcast, will be announced soon. Fans should keep an eye on Jeopardy!’s website and social channels for updates.

The bottom line: Trivia fans and festival-goers alike are in for a treat as Jeopardy! brings its buzzers and brainpower to D.C. this April.

The Northern Virginia real estate market continues to thrive across Arlington, Alexandria, Reston, Gainesville, and Fairfax Counties. Whether buying or selling, having an experienced guide by your side is crucial in today's dynamic market.

Selling your home? I'll create a targeted marketing strategy and help you set the right price to attract serious buyers and maximize your return.

Looking to buy? With current interest rates, this could be your ideal time to purchase. Let me help you find and secure the perfect home.

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Chris Colgan - EXP Realty Powered by Place

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