The COVID-19 pandemic didn’t have any dampening effects on the buying and selling of seven-digit homes in northwest Arkansas in 2020. Just the opposite.
The number of homes that sold for $1 million or more in Washington and Benton counties nearly doubled last year to 64. There were 34 sold in 2019 and 33 in 2018.
“It was kind of crazy,” said Tara Limbird, principal broker of Limbird Real Estate Group in Bentonville.
Limbird said low interest rates and a good economy — at least for the high-end homebuyer — spurred the upscale real estate market activity. Of the 64 seven-figure homes sold in the region, 53 were in Benton County, with 31 of those in Rogers.
Limbird said the pandemic may have helped the market indirectly when people were quarantined and unable to travel.
“When everybody was stuck at home, I think everybody was looking around thinking, ‘Maybe this is the time to do something,’” she said. “We can sell our home for more money and upgrade. We can buy a more expensive home and our payments stay the same.”
Once again, the most popular area for $1 million-plus homes was Pinnacle in Rogers, the gated community that surrounds the Pinnacle Country Club and golf course. Four of the 10 most expensive homes in 2020 were sold in Pinnacle and 17 were sold overall during the year.
“That is where the largest concentration of those homes is,” Limbird said. “It will remain that way for a long time until they decide to build another neighborhood like that. They don’t do that very often. There was an explosion of Rogers homes over $1 million. That has been the trend over the last few years.”
List Includes Coaching Staff
The football coaching staff at the University of Arkansas at Fayetteville made its mark on the list. In January 2020, Head Coach Sam Pittman bought one of the homes that tied for the area’s most expensive: a $2.5 million residence in Bridgewater Estates that had been the home of former UA basketball coach Mike Anderson.
UA defensive coordinator Barry Odom bought the area’s 18th-most expensive home, a $1.475 million,10,093-SF house in the Ridgewood subdivision in Fayetteville. Offensive coordinator Kendal Briles was in 22nd place with a $1.35 million, 5,864-SF home purchase in rural Fayetteville.
Other subdivisions in the region that made three appearances on the list were the Estates at Dogwood Canyon in Fayetteville, Clear Creek in Fayetteville and Talamore in Bentonville. Homes near or on Beaver Lake were popular, as well, with nine homes sold, including two in the top 10.
“People say they want a lake house with a boat dock and I tell them, ‘Well, we may be waiting a while,’” Limbird said.
Limbird said some of the buying activity was attributable to local residents upgrading, but there was also an influx of newcomers from outside the state. Northwest Arkansas has made a big push to attract white-collar employees from more affluent areas in the country, where $1 million doesn’t buy as much as it does in Washington and Benton counties.
“You can live more like a king,” Limbird said. “Or a queen.”
1. $2.5 Million
()Buyers: Sam and Jamie Pittman Seller: Anderson Joint Revocable Trust, led by Mike and Marcheita Anderson Neighborhood: Bridgewater Estates, Fayetteville Date Sold: Jan. 28 Year Built: 2013 SF: 7,200
Northwest Arkansas’ most expensive home was sold in Fayetteville’s exclusive Bridgewater Estates for the third consecutive year in 2020, with a slight asterisk since a Bentonville home sold for the same amount this year. Arkansas Razorbacks Football Coach Sam Pittman and his wife bought the home from former Arkansas Basketball Coach Mike Anderson and his wife. The two-story Pittman house has six bedrooms, nine bathrooms, a pool, a media room and a 1,209-SF guest house. The home is across the street from the palatial estate that sold for $3.8 million in each of the previous two years.
1. $2.5 Million
An 8,400-SF home in Fayetteville's Bridgewater Estates will stay in the Arkansas Razorbacks family for the time being. ( eXp Realty) Buyers: Jeffrey and Jodi Bay Seller: Walker Colt LLC Neighborhood: Rural Bentonville Date Sold: Nov. 23 Year Built: 2008 SF: 15,039
Jeffrey Bay is an attorney in Rogers. Walker Colt LLC is led by John Schmelzle of Schmelzle & Associates, a real estate investment company. Schmelzle is the son-in-law of U.S. Sen. John Boozman. The home has four bedrooms, six bathrooms and a six-car garage. It has an indoor shooting range, wine room and cellar, and it sits on 48 acres with a pond and a 4,800-SF barn.
3. $2.3 Million
() Buyer: Two Dogs Investment Holdings LLC, led by Denton Woods Seller: Ruiz Family Trust, led by Gisel and Michael Ruiz Neighborhood: Beaver Lake, Rogers Date Sold: March 6 Year Built: 2016 SF: 5,509
Denton Woods is a Springdale attorney and partner at the PMP Law Firm. Gisel Ruiz was a longtime executive at Walmart Inc. before retiring as COO of Sam’s Club.
The two-story home is on Beaver Lake and has a four-boat private dock. Each of the four bedrooms has a balcony, and the house features seven bathrooms and a game room, among other amenities.
4. $2 Million
() Buyers: Richard and Teresa Wagner Sellers: Rickie Lynn and Dianna Lynn Ellis Neighborhood: Beaver Lake, Garfield Date Sold: March 27 Year Built: 2010 SF: 7,234
Rich Wagner is president of Team Technologies Molding Inc. of Batavia, Illinois. Rick Ellis is the owner and president of Mid-River Terminal of Osceola, a harbor service company on the Mississippi River.
The home overlooks Beaver Lake and sits on 3 acres. It has four bedrooms, five bathrooms and a four-boat private dock. The property also features a two-level garage with space for eight vehicles, a heated storage area in the basement and two outdoor fireplaces. It sold for $1.66 million in 2016, the third most expensive home sale in northwest Arkansas in that year.
5. $1.89 Million
() Buyers: Craig and Karyn Harper Sellers: Blake and Beth Hanby Neighborhood: Pinnacle, Rogers Date Sold: Oct. 29 Year Built: 2018 SF: 6,090
Craig Harper was COO of J.B. Hunt in Lowell for 28 years before becoming the company’s chief sustainability officer in December 2020. Blake Hanby is the owner of City Title & Closing in Springdale. This two-story home was the top seller for the year in the popular gated Pinnacle subdivision, and it overlooks the 10th green at the Pinnacle Country Club golf course. It has four bathrooms, a fireplace and an in-ground pool.
6. $1.88 Million
() Buyers: Jeffrey and Jessica Johnson Sellers: Christopher and Paige Arnold Neighborhood: Rural Goshen Date Sold: July 14 Year Built: 2017 SF: 5,941
Jeffrey “Chip” Johnson is the president of Wood Motor Co. and Wood Development in Harrison. Chris Arnold is an orthopedic surgeon in northwest Arkansas. The home sits on 5 acres on the White River. It has five bedrooms, seven bathrooms and a three-car garage. It has an infinity pool and an outdoor kitchen.
7. $1.75 Million
() Buyers: Stephan and Deborah Barnes Seller: Karen Mahan Trust Neighborhood: Pinnacle, Rogers Date Sold: July 15 Year Built: 1994 SF: 6,989
Stephan Barnes is a senior vice president with Ozark Mountain Poultry, which is now part of George’s Inc. in Springdale. This home has a pool and cabana from which to enjoy the views of the seventh and eighth holes at Pinnacle Country Club. It has four bedrooms, five bathrooms and a six-car garage. It has a fitness room and a billiards room.
8. $1.7 Million
() Buyer: Bailey & Oliver Properties LLC, led by Frank Bailey and Sach Oliver Seller: Pearce Family Trust, led by Rayburn and Vivian Pearce Neighborhood: Highland Lake Estates, Garfield Date Sold: Aug. 10 Year Built: 2006 SF: 6,578
Frank Bailey and Sach Oliver are partners in the Bailey & Oliver Law Firm in Rogers. Rayburn Pearce is a retired retail executive who is the owner of R&R Street Rods in Bentonville. This upscale log cabin is on Beaver Lake in east Benton County. It has six bedrooms, five bathrooms and a two-boat private dock. It has a floor-to-ceiling fireplace and a separate guest cabin.
9. $1.68 Million
( Joshua Duke Photography) Buyer: Wayne and Donna Morris Revocable Trust Seller: Ruiz Family Trust, led by Gisel and Michael Ruiz Neighborhood: Pinnacle, Rogers Date Sold: March 6 Year Built: 2013 SF: 5,657
Donna Morris is the chief people officer for Walmart Inc. in Bentonville. Gisel Ruiz was a longtime executive at Walmart Inc. before retiring as COO of Sam’s Club. This home is in the gated Pinnacle subdivision and has five bedrooms and eight bathrooms. It has a spa and a pool with a pool house. There is also a home theater and a gym.
10. $1.65 Million
() Buyers: Tommy and Tammi Mardis Sellers: William and Tammy Simon Neighborhood: Pinnacle, Rogers Date Sold: March 17 Year Built: 2011 SF: 6,896
Tommy Mardis is an investor in Rogers. Bill Simon is the former CEO of Walmart USA. This five-bedroom, seven-bathroom home overlooks the eighth green at the Pinnacle Country Club golf course. It has three fireplaces, a wine room, media room and exercise room.
Sign up for Daily E-news
