Northwest Arkansas Real Estate Market Hits New Heights

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Mike Parker has been in the real estate business for 50 years and has seen the northwest Arkansas market blossom beyond imagination from when it was just a few lightly populated towns surrounded by farmland and hills.

The market has become robust with more than 200 homes sold for $1 million or more in 2023 for the second consecutive year, yet it still apparently pales in comparison with other national markets.

Executives in the real estate industry have said over the years how affordable the northwest Arkansas market appears to the affluent who move in from other urban areas, such as Silicon Valley or Dallas.

Many are moving to work in the area. Others are buying second (or third) or vacation homes.

“I’ll show someone from California a house that is listed at $2.5 million and they’ll ask, ‘Well, what’s wrong with it?’” said Parker, the owner of Prime Real Estate & Development in Fayetteville. “I tell them nothing is wrong. That is what it goes for here. They can’t figure out why they’re giving the house away.”