We’ve looked at Bentonville, we’ve looked at Rogers, Bella Vista can’t be left out in the cold (or the steaming heat of a Northwest Arkansas summer)! Bella Vista presents a bit of a different market environment than the Rogers or Bentonville housing markets. Bella Vista, with its many lakes, clubs, and golf courses, is a great place to live. As a side note, it also has more roads than most of Northwest Arkansas’ other cities put together. We’ve seen an explosion of new housing starts in Bella Vista in the past few years, and because of that, Bella Vista is really no longer just a ‘retirement community’. Heck, I live here with my wife and 1 month old son, and I am certainly not retired. I digress.
Here we have all of Bella Vista’s Current, Sold, Pending, and Non-listed Solds within the last 6 months up to and including 6/25/08. Of the home listings sold, the average list price was $170,331. The average sale price on those same homes was $163,644. That is a hair over 96% Sale Price to List Price ratio or SP/LP. It seems that most of the homes that have sold in the last six month in N.W.A. have been priced within 5% of their actual sale price. That’s something to keep in mind. The Average Days on Market (DOM) for a Sold Bella Vista home is 155 days.
Now, there are 719 Current listings (not including For Sale By Owner’s) on the market in Bella Vista with an average list price of $199,119 and change. Just as in the Rogers and Bentonville home price data, Bella Vista homes currently listed have a gap of nearly (this is on average) $20,000 between their current list price and their future sale price. I think we can expect some additional price drops in the near future unless market conditions change significantly.
Bella Vista is a great community with a feel and beauty that is a little different than the rest of Northwest Arkansas. It looks like now is a good time to buy in Bella Vista. If you are selling or thinking about selling you need to think like a buyer. Maybe your home is selling for a little less than you would like, but as a savvy and informed consumer, you can buy your new home at great price and a great interest rate.
