Current Real Estate Market - July 2020 (Fayetteville, Benton: houses, neighborhood, construction)

[kenpo]

Folk,

Is it me or has the available supply of houses in the Bella Vista/Bentonville area decreased? If so, to what should we attribute this? My realtor says the lack of supply is due to COVID-19.

What do you think?

[vcvs]

I think the lack of supply was evident long before COVID. NWA has been growing at around 18% over the last decade. Due to supply and demand, housing continues to be a sellers market, and it doesn't appear to be letting up anytime soon.

[nmnita]

Originally Posted by kenpo

Folk,

Is it me or has the available supply of houses in the Bella Vista/Bentonville area decreased? If so, to what should we attribute this? My realtor says the lack of supply is due to COVID-19.

What do you think?

Who knows but that is good news for sellers. I am hesitant to say COVID is the cause as we have watched the market in the past few years and the prices just seem to increase. The virus has only been a real issue for about 3 months. If seems that, from what we have heard from realtors, anything under $200,000 will often have more than one offer within a few days of listing.

[nmnita]

Originally Posted by vcvs

I think the lack of supply was evident long before COVID. NWA has been growing at around 18% over the last decade. Due to supply and demand, housing continues to be a sellers market, and it doesn't appear to be letting up anytime soon.

Well I hope it continues as we will probably be selling in the next year or so.

[Angel Calzadilla]

Originally Posted by kenpo

Folk,

Is it me or has the available supply of houses in the Bella Vista/Bentonville area decreased? If so, to what should we attribute this? My realtor says the lack of supply is due to COVID-19.

What do you think?

It depends of the area. The real estate market does not portray exactly the same behavior in different areas even in the same county and parts of the same city. There are lack of supply in one determined area like yours because a multifactorial cause that not necessarily have to attributed to the virus. When you are motivated to put your property on the market, then you do it no matter what.

[vcvs]

Originally Posted by nmnita

Well I hope it continues as we will probably be selling in the next year or so.

Selling?? Are you leaving Bella Vista?

[Lemontian]

Originally Posted by kenpo

Folk,

Is it me or has the available supply of houses in the Bella Vista/Bentonville area decreased? If so, to what should we attribute this? My realtor says the lack of supply is due to COVID-19.

What do you think?

I think your realtor is blowing smoke.
At the peak of the covid slowdown home construction was the only thing going on.
Sewer capacity is holding back the region.
https://www.nwaonline.com/news/2019/...orthwest-arka/

[vcvs]

Originally Posted by Lemontian

I think your realtor is blowing smoke.
At the peak of the covid slowdown home construction was the only thing going on.
Sewer capacity is holding back the region.
https://www.nwaonline.com/news/2019/...orthwest-arka/

Exactly... sewer and basic infrastructure is a huge reason.

[biscuitmom]

Originally Posted by kenpo

Folk,

Is it me or has the available supply of houses in the Bella Vista/Bentonville area decreased? If so, to what should we attribute this? My realtor says the lack of supply is due to COVID-19.

What do you think?

Welcome, new poster.
Can't speak for BV/Bentonville but my Fayetteville neighborhood continues to favor sellers & indeed supply is dwindling. We expected downturns but so far, for whatever reason, that's not happening.

[kenpo]

Originally Posted by vcvs

Exactly... sewer and basic infrastructure is a huge reason.

Thanks for the pointer. I was unaware of this. Strikes me as unsurprising given the growth. Unfortunate, but not surprising.