The same Fayetteville house was the most expensive home sold in northwest Arkansas in 2019 and in 2018.
Washington and Benton counties combined for 34 home sales of $1 million or more last year, an increase of one from 2018. The ratio swung more to Benton County in 2019 with 24 of the 34 homes being sold in Benton County compared with 20 of 33 in 2018.
“If you compare it to 2018, it is a real similar year at that price point,” said Tara Limbird, principal broker of Limbird Real Estate Group in Bentonville. “The economy has been good and the interest rates have been good.”
The top transaction in 2018 and last year involved a name familiar to Arkansas sports fans: Chad Morris. He bought his former 11,616-SF home for $3.8 million in 2018 and then sold it for $1,000 less than that in December 2019.
Morris bought the house in the ritzy Bridgewater Estates gated subdivision in west Fayetteville after he was named head football coach of the Razorbacks. He sold it to Texas businessman Denton Seilhan after he was fired by the Razorbacks after less than two seasons.
The strength of the Benton County market lay again in the Pinnacle subdivision, the gated community surrounding Pinnacle Country Club and golf course in Rogers. Seven of the most expensive homes sold in 2019 were Pinnacle homes.
Another growing trend was homes on or near Beaver Lake. Four such homes sold for $1 million or more in 2019, including three of the top 10.
“We have had several good years of growth in value and equity people are finding in their house,” Limbird said. “They are thinking about cashing out and moving up. We are also seeing a lot of homes being bought out at the lake and those are potential second homes for people.”
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Two of the Pinnacle homes on the top 10 this year were also in the top 10 in 2016. Limbird said some homes in the subdivision are showing their age, but it is still a popular destination.
“We have so many people, at any price point not necessarily the $1 million price point, that are preapproved and ready to go and buy a house and we can’t find them anything,” Limbird said. “The inventory is so short. “Spending $1 million or $2 million or $3 million on a home seems like a drop in the bucket for what they are getting compared to where they are coming from.”
1.) $3.8 Million
Buyers: BC & Beyond LLC, led by Denton Seilhan
Sellers: Chad and Paula Morris
Neighborhood: Bridgewater Estates, Fayetteville
Date Sold: Dec. 16 | Year Built: 2010 | SF: 11,616
This home has been the most expensive home sold in northwest Arkansas for two consecutive years. In 2018, Chad and Paula Morris bought it for $3.8 million after Chad Morris was named head football coach of the Arkansas Razorbacks. He was fired after less than two full seasons and a dismal 4-18 record (0-14 in the SEC). Seilhan is a Texas businessman.
The home, in the exclusive gated Bridgewater Estates community, is on 2½ acres and has eight bedrooms and 11 bathrooms. It has a pool, sports court, hot tub and three patios.
2.) $3.4 Million
Buyers: N.P. Dodge Jr. and National Equity Inc.
Sellers: Pedro and Tanya Farah
Neighborhood: Beau Chene, Rogers
Date Sold: Feb. 7 | Year Built: 2006 | SF: 9,943
National Equity Inc. is a subsidiary of NEI Global Relocation of Omaha, Nebraska, an employment management company whose chairman is Kate Dodge. N.P. Dodge Jr. is a real estate investor in Omaha.
Pedro Farah is executive vice president and CFO at Nutrien of Saskatoon, Canada, and is a former Walmart executive and treasurer.
The home is on 8½ acres in the gated Beau Chene subdivision. It has four bedrooms, eight bathrooms and a swimming pool, spa and library. It has a separate carriage house with an apartment.
3.) $2.25 Million
Buyers: Scott and Leslie Rouse
Sellers: Christopher and Lisa Wright
Neighborhood: Beaver Lake, Garfield
Date Sold: Dec. 6 | Year Built: 1977 | SF: 3,476
Scott Rouse is the executive vice president and chief customer officer for Tyson Foods Inc. in Springdale.
The renovated home sits on a 1½-acre lot on the shores of Beaver Lake. It has six bedrooms, 4½ bathrooms and a gourmet kitchen. It has floor-to-ceiling fireplaces, a two-bedroom guest house and a five-slip boat dock.
4.) $2.11 Million
Buyers: Zubair Ahmed and Umbar Ghaffar
Seller: Signature Bank of Arkansas, Fayetteville
Neighborhood: Pinnacle, Rogers
Date Sold: Oct. 16 | Year Built: 1994 | SF: 15,821
Zubair Ahmed is a cardiologist at Washington Regional Medical Center in Fayetteville. Umbar Ghaffar is a nephrologist at Mercy Health in Springdale. Signature Bank acquired the property after filing a civil suit against former Walmart Inc. executive John Ryan III.
The limestone home has six bedrooms and 8½ bathrooms and sits on 3 acres. It has his and her master bathrooms, an elevator, theater room and wine cellar. It also features a pool and pool house.
5.) $1.9 Million
Buyer: Eric Musselman Revocable Living Trust
Sellers: Thomas and Nancy Evans
Neighborhood: Clear Creek, Fayetteville
Date Sold: April 2 | Year Built: 2014 | SF: 8,000
Eric Musselman is the head men’s basketball coach at the University of Arkansas at Fayetteville. Tom Evans is a former vice president and general counsel for Walmart Inc. of Bentonville who now works for XPO Logistics in Charlotte, North Carolina.
The home has five bedrooms, six bathrooms and an expansive second-floor balcony. It also features an in-ground pool, an 810-SF pool house and an outdoor fireplace.
6.) $1.83 Million
Buyers: Scott and Deanne Schuff
Seller: Pickard Family Trust, led by Mary Ann Pickard
Neighborhood: Gram B Point, Lowell
Date Sold: Sept. 25 | Year Built: 2006 | SF: 3,843
Scott Schuff is a steel executive in Phoenix. William Pickard was an orthodontist in northwest Arkansas who died in 2016 at age 70.
The home is on Beaver Lake and has a four-slip boat dock. It has four bedrooms and six bathrooms, two kitchens, an in-ground swimming pool and a theater.
7.) $1.8 Million
Buyers: Bryan and Marijean Grunewald
Seller: Felix Wright Trust
Neighborhood: Beaver Lake, Garfield
Date Sold: March 29 | Year Built: 1998 | SF: 3,844
Bryan Grunewald runs a management company and Marijean Grunewald is a veterinarian in Plano, Texas. Felix Wright is the retired chairman and CEO of the manufacturing corporation Leggett & Platt of Carthage, Missouri.
The home is on more than 7 acres on Beaver Lake. It has five bedrooms, 5½ bathrooms and a three-slip boat dock.
8.) $1.6 Million
Buyers: Chad and Laura Hill
Sellers: Monica and Thomas McGurk
Neighborhood: Clear Creek, Fayetteville
Date Sold: April 4 | Year Built: 2005 | SF: 6,700
Chad Hill is an obstetrician and co-owns the Women’s Center in Siloam Springs with his wife, Laura. Monica McGurk is an executive with Kellogg Co. in Battle Creek, Michigan, and former chief growth officer for Tyson. Her husband, Thomas, is the managing director of investment firm BluWave.
The home has five bedrooms, 5½ bathrooms, a gourmet kitchen, a covered outdoor kitchen and a pool. It overlooks the ninth green at Tyson Foods Chairman John Tyson’s Blessings Golf Club and was the No. 4 most expensive home sold in 2016 when the McGurks paid $1.59 million.
9.) $1.55 Million
Buyers: David and Connie Metcalf
Sellers: Bradley Scott Smith and Alexis Lynn Smith
Neighborhood: Pinnacle, Rogers
Date Sold: July 9 | Year Built: 2004 | SF: 5,003
David Metcalf is a pediatric home care executive in Kaufman, Texas. Bradley Smith is the managing director of Dakota Pacific Holdings and CEO of Vevano Home and CB Build Enterprises, all of which are located in Salt Lake City. Smith was formerly the CEO of the Arkansas furniture company Cheyenne Industries.
The home sits on the 11th fairway of the golf course at the exclusive Pinnacle Country Club subdivision. It has five bedrooms and 5½ bathrooms, a theater and recreation room, a gourmet kitchen and floor-to-ceiling windows.
The home also made the list, at No. 5, in 2016 when the Smiths paid $1.51 million.
9.) $1.55 Million
Buyers: Buckley and Kimberly Blew
Sellers: Brian and Melissa Reindl
Neighborhood: Rural Fayetteville
Date Sold: June 5 | Year Built: 2012 | SF: 5,386
Buckley Blew is the owner of Blew & Associates, a civil engineering firm in Fayetteville. Brian Reindl is a real estate developer and the producer and screenwriter of “Greater,” the movie about former University of Arkansas football star Brandon Burlsworth. The home has four bedrooms and four bathrooms, two wood-burning fireplaces, a wraparound back porch and an upstairs gym and game room.
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