Is real estate a good investment in NWA? The answer is YES! Real estate in Northwest Arkansas is a great place to invest your money! Continue reading to see why this is true.
My name is Jill Bell. I’m a real estate broker in Northwest Arkansas. I’ve been in the business since 1998 when I graduated from the University of North Texas with a degree in real estate. I love analyzing real estate statistics and I’ve summed up all my recent research in this blog post just for you. My hope is that it will help you buy, sell and invest with confidence in the NWA area. If you’re ready to jump into this real estate market, call or text me at 479.799.3023 to start the conversation. I’m here for you!
As families move to Northwest Arkansas I’m often asked about the real estate growth in our area. I always help my clients consider resell value before the property is purchased. Historical data on real estate appreciation is a key part of this. The property one buys now will always be sold at some point later in life. I do my best to help buyers choose houses that are most likely to build their net worth as they live in the homes. I like to take the growth trends of each city into consideration as I help people decide exactly where in Northwest Arkansas they would like to plant roots and where they are most likely to make money when it’s time to sell. We can compare the stats of each city with Northwest Arkansas as a whole as well. History is the best predictor of the future. With that said, let’s take a look at the stats for the residential real estate market in each city that makes up Northwest Arkansas!
FAYETTEVILLE, ARKANSAS
Fayetteville has seen a 24.55% increase in the average purchase price of homes from 2021 to 2022 from $337,766 to $420,685. 1,812 homes were sold in Fayetteville in 2022 and the average Days on Market (DOM) was 77 days. From 2020 to 2021 Fayetteville saw a 19% increase in the average purchase price of homes from $283,586 to $337,766 with 2,081 homes sold in 2021. From 2019 to 2020 Fayetteville saw a 13% increase in average purchase price from $267,786 to $283,586 with 2,034 homes sold in 2020. In 2019 it took an average of 95 days to sell a house in Fayetteville and 1,799 homes were sold that year. Fayetteville saw a 57% increase in average purchase price of residential real estate from 2019 to 2022!
BENTONVILLE, ARKANSAS
Bentonville has seen a 23.94% increase in the average purchase price of homes from 2021 to 2022 from $407,438 to $504,987. 1,415 homes were sold in Bentonville in 2022 and the average Days on Market (DOM) was 83 days. From 2020 to 2021 Bentonville saw an 18% increase in the average purchase price of homes from $345,310 to $407,438 with 1,627 homes sold in 2021. From 2019 to 2020 Bentonville saw a 10.5% increase in average purchase price from $312,430 to $345,310 with 1,700 homes sold in 2020. In 2019 it took an average of 105 days to sell a house inn Bentonville and 1,678 homes were sold that year. Bentonville saw a 61.6% increase in the average purchase price of residential real estate from 2019 to 2022!
ROGERS, ARKANSAS
Rogers has seen an 18% increase in the average purchase price of homes from 2021 to 2022 from $377,902 to $445,977. 1,264 homes were sold in Rogers in 2022 and the average Days on Market (DOM) was 68 days. From 2020 to 2021 Rogers saw an 18% increase in the average purchase price of homes from $319,993 to $377,902 with 1,588 homes sold in 2021. From 2019 to 2020 Rogers saw a 15% increase in average purchase price from $278,111 to $319,993 with 1,532 homes sold in 2020. In 2019 it took an average of 96 days to sell a house in Rogers and 1,470 homes were sold that year. Rogers saw a 60.4% increase in the average purchase price of residential real estate from 2019 to 2022!
SPRINGDALE, ARKANSAS
Springdale has seen a 17.4% increase in the average purchase price of homes from 2021 to 2022 from $303,500 to $356,443. 1,170 homes were sold in Springdale in 2022 and the average Days on Market (DOM) was 72 days. From 2020 to 2021 Springdale saw a 16.6% increase in the average purchase price of homes from $260,251 to $303,500 with 1,448 homes sold in 2021. From 2019 to 2020 Springdale saw a 12.77% increase in average purchase price from $230,779 to $260,251 with 1,621 homes sold in 2020. In 2019 it took an average of 78 days to sell a house in Springdale and 1,346 homes were sold that year. Springdale saw a 54.45% increase in the average purchase price of residential real estate from 2019 to 2022!
FARMINGTON, ARKANSAS
Farmington has seen a 20.6% increase in the average purchase price of homes from 2021 to 2022 from $264,530 to $319,092. 421 homes were sold in Farmington in 2022 and the average Days on Market (DOM) was 90 days. From 2020 to 2021 Farmington saw a 9% increase in the average purchase price of homes from $242,503 to $264,530 with 386 homes sold in 2021. From 2019 to 2020 Farmington saw a 13.78% increase in average purchase price from $213,128 to $242,503 with 272 homes sold in 2020. In 2019 it took an average of 111 days to sell a house in Farmington and 270 homes were sold that year. Farmington saw a 49.7% increase in the average purchase price of residential real estate from 2019 to 2022!
CAVE SPRINGS, ARKANSAS
Cave Springs has seen a 17.49% increase in the average purchase price of homes from 2021 to 2022 from $412,256 to $484,385. 146 homes were sold in Cave Springs in 2022 and the average Days on Market (DOM) was 54 days. From 2020 to 2021 Cave Springs saw a 14.6% increase in the average purchase price of homes from $359,653 to $412,256 with 208 homes sold in 2021. From 2019 to 2020 Cave Springs saw a 3.2% increase in average purchase price from $348,439 to $359,653 with 301 homes sold in 2020. In 2019 it took an average of 119 days to sell a house in Cave Springs and 209 homes were sold that year. Cave Springs saw a 39% increase in the average purchase price of residential real estate from 2019 to 2022!
CENTERTON, ARKANSAS
Centerton has seen a 22.2% increase in the average purchase price of homes from 2021 to 2022 from $309,740 to $378,650. 881 homes were sold in Centerton in 2022 and the average Days on Market (DOM) was 126 days. From 2020 to 2021 Centerton saw an 11.4% increase in the average purchase price of homes from $277,961 to $309,740 with 884 homes sold in 2021. From 2019 to 2020 Centerton saw a 15.9% increase in average purchase price from $239,781 to $277,961 with 780 homes sold in 2020. In 2019 it took an average of 111 days to sell a house in Cneterton and 658 homes were sold that year. Centerton saw a 57.9% increase in the average purchase price of residential real estate from 2019 to 2022!
BELLA VISTA, ARKANSAS
Bella Vista has seen a 27% increase in the average purchase price of homes from 2021 to 2022 from $275,366 to $350,055. 1,315 homes were sold in Bella Vista in 2022 and the average Days on Market (DOM) was 54 days. From 2020 to 2021 Bella Vista saw a 21.7% increase in the average purchase price of homes from $226,104 to $275,366 with 53 homes sold in 2021. From 2019 to 2020 Bella Vista saw a 13.34% increase in average purchase price from $199,493 to $226,104 with 1,547 homes sold in 2020. In 2019 it took an average of 79 days to sell a house in Bella Vista and 1,263 homes were sold that year. Bella Vista saw a 75.47% increase in the average purchase price of residential real estate from 2019 to 2022!
ALL OF NORTHWEST ARKANSAS
Northwest Arkansas as a whole has seen a 19.8% increase in the average purchase price of homes from 2021 to 2022 from $316,430 to $379,083. 12,04 homes were sold in Northwest Arkansas in 2022 and the average Days on Market (DOM) was 77 days. From 2020 to 2021 Northwest Arkansas saw a 17% increase in the average purchase price of homes from $269,981 to $316,430 with 13,516 homes sold in 2021. From 2019 to 2020 Northwest Arkansas saw a 10.7% increase in average purchase price from $243,821 to $269,981 with 13,032 homes sold in 2020. In 2019 it took an average of 98 days to sell a house in Northwest Arkansas and 11,463 homes were sold that year. Northwest Arkansas saw a 55% increase in the average purchase price of residential real estate from 2019 to 2022!
CONCLUSION
So which city in Northwest Arkansas has seen the most real estate appreciation in the last year? The answer to that question is Bella Vista followed by Fayetteville, Arkansas. In which city did the majority of homes sell in the last year? The answer to that question is Fayetteville followed by Bentonville, Arkansas! Which city in Northwest Arkansas has seen the most appreciation since 2019, pre- pandemic? The answer to that question is Bella Vista followed by Bentonville and Rogers, Arkansas. In which cities did homes sell the fastest? There was a tie between Cave Springs and Bella Vista. They both came in at 54 days on the market. In which city did homes take the longest to sell? The answer to that question is Centerton followed by Farmington, Arkansas. Compared to the national averages, we are doing great in all cities in Northwest Arkansas. These numbers show us that real estate in Northwest Arkansas is a great investment! Real estate continues to appreciate. There is more and more demand for housing with companies relocating to the area. Outdoor recreation and entertainment are drawing in visitors from across the country. We have the best schools in the state. Northwest Arkansas will always be a great place to live and work!
Ready to buy, sell, or invest in real estate in NWA? Call or text me, Jill Bell, at 479.799.3023 to start the conversation. I would love to walk this real estate road with you!