Northwest Arkansas’ Most Expensive Home Sales of 2023

(Derrick Wilkerson)

The upscale residential market in northwest Arkansas saw another year of 200 or more homes selling for $1 million or more in 2023.

Benton County saw a drawback in its high-end housing market. There 155 homes sold for $1 million or more last year,  a 13% drop from 178 such homes in 2022. But in Washington County, 56 homes sold for $1 million or more, an increase of 44% from 39 in 2022.

The Arvest Bank Skyline Report, released in mid-March, said the average price for a home sold in Benton County was more than $420,000 in 2023. The average price for a Washington County home was more than $392,000 in the first half of 2023 before dropping to $386,000 in the second half of 2023.

Arkansas Business, for the third consecutive year, increased the floor price of the home sales it follows in northwest Arkansas. The accompanying graphic shows sales of $1.75 million or more; up from $1.5 million in 2022 and $1.25 million in 2021.

In Benton County, 28 homes sold for $1.75 million or more, and Washington County had nine. The two counties, the most populous counties of the northwest Arkansas region, saw a combined 211 homes sell for $1 million or more in 2023, six fewer than in 2022.

“It’s a different market, for sure, but it is a very healthy market,” said Mike Parker, owner of Prime Real Estate & Development in Fayetteville.

“We’re still mostly upside down as far as supply and demand goes. The folks who are in the market to purchase those price range homes, almost every one I did was a cash sale. Those folks have money despite interest rate changes and whatever the times are.”

The prime location in northwest Arkansas continues to be the gated Pinnacle subdivision surrounding the Pinnacle Golf Club in Rogers. The area saw 36 homes sell for $1 million or more in 2023, a 33% increase from 27 in 2022. Pinnacle homes placed four times in the top 10 most expensive homes sold in 2023.

Two of the top 10 homes sold were on the same street in Pinnacle.

For the second consecutive year, the most expensive home sold in northwest Arkansas topped $4 million. The $4.2 million home sold on Beaver Lake, a popular area in northwest Arkansas. Six homes in Beaver Lake were among the 28 most expensive homes sold in the two-county region in 2023.

Fayetteville’s most popular upscale spot was the Clear Creek subdivision that surrounds Tyson Foods Inc. Chairman John Tyson’s Blessings Golf Club. Clear Creek had the fourth-most expensive home sold in 2023 and 10 of $1 million or more.

“It is getting harder to find them on Beaver Lake,” Parker said. “Those are all popular areas that fit into that price range. Those are great areas and always will be.” n

1. $4.2 Million

Buyer: Tango Foxtrot LLC | Sellers: Derick and Lisa Bores | Neighborhood: Beaver Lake | Date Sold: June 30 | Year Built: 2020 | SF: 7,967

The six-bedroom, seven-bathroom home sits on 4 acres on Beaver Lake and has a two-slip boat dock. It is a three-story home with a walkout basement, guest suite, home gym, game room and four-car garage. The buying LLC is led by Tim Fahler, who is the CEO of Novo Oil & Gas in Oklahoma City. Derick Bores is a senior account manager at Zebra Technologies in Rogers. Lisa Bores is the director of sales for Sazerac Co.

2. $3.25 Million

Buyer: 401 W. Central Avenue Trust | Seller: Steven & Julie Freeman Living Trust | Neighborhood: Downtown Bentonville | Date Sold: May 16 | Year Built: 1954 | SF: 6,286 

This four-bed, four-bath home was designed by architect Cecil Stanfield in 1954 and underwent an extensive remodel in 2018. It has a climate-controlled four-car garage, five fireplaces, wine cellar and private patio. The 401 W. Central Avenue Trust is associated with Kristin Copher Buse, the co-founder and president of the nonprofit Pure Charity. Silicon Valley Bank is the trustee of the trust. Steve Freeman is a businessman in Bentonville.

3. $2.95 Million

Buyer: East North Central Real Estate 1 LLC | Seller: Erin Brady | Neighborhood: Candlewood, Fayetteville | Date Sold: Aug. 9 | Year Built: 2007 | SF: 6,340

This two-story home with a basement has five bedrooms, six-and-a-half bathrooms, two fireplaces and a swimming pool. It was the sixth-most expensive home sold in 2021, as well, when it sold for $2.3 million. The buying LLC is a subsidiary linked to David and Doug Hendrix of Bryant, the founders of the Big Red Stores. Erin Brady is a Fayetteville dentist.

4. $2.9 Million

Buyers: Brady John and Laura Elizabeth Stewart | Seller: Prestwick South Circle LLC | Neighborhood: Clear Creek, Fayetteville | Date Sold: Aug. 7 | Year Built: 2004 | SF: 7,135

The home sits adjacent to the 12th green of Blessings Golf Club in the gated Clear Creek subdivision. It has five bedrooms, five-and-a-half bathrooms, a five-car garage, three fireplaces and a media room. Brady Stewart is the group president of the fresh meats division of Tyson Foods Inc. of Springdale. The selling LLC was organized by attorney T. Craig Jones and real estate agent Jennifer Banks. It acquired the property in 2020 from Devin Cole, the COO of George’s Inc. of Springdale.

5. $2.86 Million

Buyer: Michael & Mary Laymon Living Trust | Seller: Michael A. Fyler & Melinda F. Fyler Trust | Neighborhood: Beaver Lake | Date Sold: Aug. 7 | Year Built: 2015 | SF: 5,506

This three-bedroom, seven-bath home is on Beaver Lake in eastern Benton County. It has a private two-slip boat dock, mother-in-law quarters, a 1,800-SF shop and two laundry rooms. It was the eighth-most expensive home bought in 2022, as well, when it sold for $2.5 million. Mike Laymon is a business owner in Yates Center, Kansas. Mike Fyler is the owner of Kansas Chemical in McPherson, Kansas.

6. $2.85 Million

Buyers: Sherman and Meredith Rogers | Sellers: David and Michelle Bray | Neighborhood: Beau Chene, Rogers | Date Sold: May 19 | Year Built: 2001 | SF: 4,898

The home has four bedrooms, four-and-a-half bathrooms and sits on 2 acres in a gated community. It has a three-car garage, library, wine bar and swimming pool. Sherman Rogers is the CEO and founder of Bloom Insurance in Bloomington, Indiana. David Bray is the former president of the poultry division of Tyson Foods Inc. of Springdale.

7. $2.78 Million

Buyers: Martin Alan Hannon and Amber Sills | Seller: 62 Buckingham Trust | Neighborhood: Pinnacle, Rogers | Date Sold: April 21 | Year Built: 2007 | SF: 8,911

The three-story home has six bedrooms and seven-and-a-half bathrooms. It has a wine cellar, office, theater, exercise rooms and four-car garage. It was the sixth-most expensive home sold in 2018, when it sold for $1.58 million. Martin Hannon is a family medicine doctor in Rogers. Amber Sills is an OB-GYN in Bentonville. 62 Buckingham Trust is led by Ray Canode Jr. and Michelle Canode of Rogers.

8. $2.71 Million

Buyers: Craig Edward and Paula Jean Boelte | Sellers: Derek and Shellie Brown | Neighborhood: Pinnacle, Rogers | Date Sold: May 23 | Year Built: 2000 | SF: 8,040

The three-story house sits on a 1.7-acre lot. It has 19 rooms, including four bedrooms and six bathrooms, a private study, library, media room, outdoor spa and pool with a cabana. It was the third-most expensive home sold in 2017 when it sold for $1.98 million. Craig Boelte is the CFO of Paycom Software in Oklahoma City. Derek Brown is the owner of Brown Orthodontics, which has two locations in northwest Arkansas.

9. $2.55 Million

Buyers: Brandon and Alyssa Williams | Sellers: Ryan and Molly Powers | Neighborhood: Pinnacle, Rogers | Date Sold: May 23 | Year Built: 2017 | SF: 4,779

This two-story home has five bedrooms, four-and-a-half bathrooms and a four-car garage. It has a game room, wet bar, swimming pool and 70 trees on a ¾-acre lot. Brandon Williams had a 10-year NFL career as a defensive lineman, earning Pro Bowl honors in 2018 and winning a Super Bowl in 2022. Ryan Powers is the CEO of Baccus Global LLC of Boca Raton, Florida.

9. $2.55 Million

Buyer: QSX-300A2 LLC | Sellers: Russ and Karisa Sprague | Neighborhood: Pinnacle, Rogers | Date Sold: March 31 | Year Built: 2013 | SF: 6,697

The five-bedroom, seven-bath home sits on 1 acre. It has a wine room, hardwood floors, two fireplaces and heated marble floors in the master bathroom. It has a pool, pool house with a kitchen and four-car garage. The buying LLC is led by Chris and Lance Beaty of Beaty Capital Group in Fort Smith. Chris Beaty is also the CEO of TeleComp in Rogers. Russ Sprague is a principal with NWA Executive Rentals in Rogers. Karisa Sprague is a senior vice president of fulfillment at Walmart Inc.

Home Sales of $1.75 Million or More in 2023 in Benton and Washington Counties

Ranked by price

(Source: Benton & Washington counties’ real estate records; Researched by Marty Cook)