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Bentonville: Walmart's Home Base Provides Peak Housing Demand

Whether it is jobs supplied by the world's most famous retailer, Walmart, or a comfortable retirement by scenic Beaver Lake, living in the Ozarks is living high on the hog indeed, with apologies to the nearby University of Arkansas Razorbacks.

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"Bentonville is the home of Wal*Mart and has a new regional airport," says Realtor Catherine Maxey. "This area is growing by leaps and bounds. Bentonville is a great market to buy or sell in. The influx of people due to job transfers has caused a tremendous housing boom. New homes start in the mid $70,000's and the high end - unlimited. New construction starts at about $70.00 per square foot and goes upward based on location, amenities and personal choices.

Other towns surrounding Bentonville are also experiencing a boom thanks to their proximity to the new airport. "Centerton is a rapidly growing town bordering Bentonville," says Maxey. "Centerton does not have its own school system and children attend Bentonville.

"Rogers' housing market is booming, just as in the surrounding areas," continues Maxey. "There are homes in price ranges beginning at about $50,000 with no limit on the high end. Rogers has homes for all tastes. There are condos by Beaver Lake, homes on small acreages, homes in subdivisions and homes on golf courses.

"Lowell is a quiet bedroom community near the Walmart offices, JB Hunt office and the NWA Regional Airport," says Realtor Julie Knight. "It has it's own elementary school and is part of the Rogers School District. Lowell has a wide range of homes from $70,000 starter homes to $550,000 estate homes.

Predicts Knight, "As the weather warms up so will home sales. If you are thinking about putting a home on the market now is definitely the time to start."

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Published: July 2, 2002

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Mortgage Rates
30 Year Fixed: 3.83%
15 Year Fixed: 3.05%
1 Year Adj: 2.73%
(U.S. Weekly Averages)

Today's Headlines 07/02/2002


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