Masaya is a city that is famous for their market (both tourist market and the local market) and for the volcano that bears its name. Masaya is about an hour and a half away from our house. If you like shopping, you will love these markets. The tourist market is large and has something for everyone. It is fun, somewhat crowded and bargaining is encouraged (and somewhat respected). The “local” market is different. It is a lot more crowded, more crowded stalls and a lot of different items. Personally, I like going to the “local” market as it is WAY more authentic.
Not far outside the city area is Volcan Masaya. It is pretty easy to get to as all you do is drive up to it. I forget the cost (entrance fee) of going in the volcano park, but it was just a couple of bucks. It is something to see nature in action. The smell of sulfur, the rumble of the volcano belching out the smoke/steam and the look of the landscape is something everyone should experience.
As a bonus, on your way home, as head though Catarina (as you go up the hill), turn into one of our favorite restaurants, Mi Viejo Ranchito. The actual location is Km 39 1/2 de la Carretera. It is worth the stop, the food is quite good.