NWA Real Estate | S1E10 | Mid Year Market Update 2022

14.11.22 08:46 PM By Ryan Veit

How You Can Win as a Buyer

-May 11th, 2022-

Are you moving to Bentonville, Arkansas? What about Rogers, Fayetteville, Springdale? Northwest Arkansas is quickly becoming one of the TOP AREAS to move to in the country receiving national recognition in publications like Forbes, Fortune, and US News. With local attractions like The Crystal Bridges Museum of American Art and Collegiate Athletic Events with the Arkansas Razorbacks our small corner of Northwest Arkansas has everything city life has to offer minus the traffic jams. In 2010 Bentonville began its Downtown Revitalization Program which set off a surge in area development, attracting new businesses and developers ready to invest in our future. NWA is no longer the sleepy small town it once was. Our region is emerging as the premier mountain biking destination in the country and becoming a hub for the performing arts. 

5 Year Housing Trends in NWA (2018-2022)

Interest Rates | 3.75% vs 5.5%

Number of Houses Sold | 5,799 ⬆️ 6,354

Total Volume | $1.36B  ⬆️ $2.46B

Average Sales Price | $235K ⬆️ $387K

Average Days on Market (Listing Date to Close) | 104 ⬇️ 71

Avg Mo Pmt for an entry level 3bd/2ba home | $1,283 ⬆️ $2,478

Agenda

Join us as we sit down for a Mid-Year Market Update of our Northwest Arkansas Housing Market.

CHAPTERS: 

00:00-03:24 - Introduction 

03:25-07:17 - Market Update 

07:18-21:48 - How to be a Buyer 

21:49-28:23 - Interviewing your agent 

28:24-34:47 - Get your money in order

Talking Points

  • New Listings this Summer are up almost double what we were seeing in first part of the year
  • Number of listings for the year through July were actually down-flat vs last year. So we've had more buyers enter the market and compete for roughly the same number of houses
  • Home prices are up roughly 25% vs last year
  • Market "experts" project average sales price to revert back to a healthy 8-10% next year, Ryan thinks we're going to be closer to 2-4% if rates continue to climb through next year
  • 90.8% of current listings have been on the market 5+ days
  • 33.8% of active listings have done a price drop
Contact Information

Get in Touch

5yrs of Experience

VA Loans, First-Time Home Buyer, Investors

(479) 225-9100

Ryan Veit

20yrs of Experience

Downtown Bentonville, Corporate Relocation, Luxury

(479) 644-1849

John Mayer

Ryann Thornton

Ryan Veit

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