......right this moment that is. 2016 and 2017 have been monumental in Bentonville's emerged downtown area. Quickly growing and with new construction everywhere, the literal face of Downtown Bentonville is an entirely new place to visit if you haven't been in a while.
For those of us that watch these markets closely as part of our daily job, the changes are huge and swift. All signs of a strong market. The market this year, has really had a few bumps.
For example: Days on Market for new listings are slowly going up this time of the year. Some of the construction is catching up and getting tempered with a bit more inventory. In micro subdivision environments it is very marked. Signs are up everywhere. For those who waited out and didn't list in the spring, there is now more inventory to compete with. There are of course preferred areas also that the pre-owned inventory is competing with, such as new construction homes.
A completely different market from the Spring. Welcome to mid fall in Real Estate. Swinging into the Holidays, and end of year. People will naturally be a little hesitant to choose to purchase/sell around the Holidays, the most intense family time of the year. Coming up should be a small push also, for those whose main goal is to move before the Holidays, there is still enough time to find a house and close. But it is starting to get close.
In Centerton, for homes priced between 200 and 250k, there are a total of 16 today.
As you can see above: all 16 are concentrated in a very specific area. What that tells us is that there is really no direct competition with all of these mostly 4 bedroom homes, in a mostly 220-230k range. The only competition then goes to Bentonville. Most of the buyers of these homes, will cross shop all of Bentonville.
Looking at Bentonville in the same market 220-250k price range, there are 78 to choose from. Surprisingly, Bentonville has a hefty enough supply in that range, many on market over 140 days. Houses taking more than a few weekends to sell.
Instead of quoting these national and local statistics I prefer to look into the micro-climates in each area. It is some of the mind work in our business.
Tip to a Consumer: Make sure your Realtor has proven results in marketing and the metal to stick with your listing when the market slows.
401 Navarra Drive
4 Bedroom with hardwoods into master bedroom.
Modern Fixtures and Open
Rene Guin is a Realtor in NWA, that's Northwest Arkansas to all who don't know it as such.