Bentonville and Northwest Arkansas Market

So here we are…a lot of things have changed over the past year. Last year in December there were - get this - 65 listings with a Bentonville address that were currently for sale. The lowest price was $252,000. Today, there are 314 listings with the same parameters, with the cheapest home at $235,000. The average price per sqft is $323 and the median is $205; last year these numbers were $275 average and $208 median.

The difference is the huge number of new homes that have come onto the market within the last year. 159 of our listings are new construction. ranging from $280,000 to $2.5 million. They are averaging $228 as an average price and 198 for the median,

Of course, we all know that the economy has changed since last year. The market was hot, almost too hot. Interest rates have gone up, cutting the number of qualified buyers, or at least their price range. Wal-Mart stock dropped from a high of $160 per share to a low of $119, causing those who use their stock to back up their loans to have less buying power.

But these things are changing and will continue to get better I think. We have an election coming up which will affect pricing, Wal-Mart stock is back up $20 over its low, and interest rates appear to be stabilizing.

It can be a scary process to buy or sell, but homes are still in demand, and in serious demand, in Northwest Arkansas, and will continue to do so. If I can sort things out for you, please give me a call.