Northwest Arkansas' Most Expensive Home Sales of 2016

The number of seven-figure homes sold in Washington and Benton counties almost tripled in 2016 compared with the previous year. Twenty-seven homes in the two counties sold for $1 million or more in 2016. In 2015, only 10 homes sold at or above that price point, while 18 homes reached or surpassed the $1 million threshold in 2014. Brandon Long, owner and broker at Weichert Realtors-The Griffin Co. in Springdale, said inventory of high-priced homes turned over much quicker in 2016 — and so far in 2017 — than it had in recent years. “I think one of the reasons is there are more buyers for the homes,” Long said. “The absorption rate has gone down quite a bit. The reason for that is not less inventory but just more buyers. That is what the trend was saying for sure.” Long said there used to be about 10 buyers every month looking at and buying homes priced at $500,000 or more in northwest Arkansas. Now that number has doubled. This week, we take a look at the 10 most expensive residential sales in the two-county region. The top home on the list is one of the most expensive in recent memory. While the most expensive home in 2015 sold for $1.4 million, 2016 saw Walton Enterprises pay $5.3 million for a 4,366-SF home on Old Whayne Road in Bentonville. The home has sentimental value; it was the residence of Ferold Arend, the first president of Wal-Mart Stores Inc. and close associate of neighbor Sam Walton. The seller was Arend LLC, led by Arend&rsqu...
Source: Arkansas Business - Health Care - Category: American Health Source Type: news