Wacky Market

May 28, 2021

Real Estate

Supply and Demand

NWA Daily

2021 is shaping up a little differently for the NWA housing market. Prices continue to skyrocket while homes sold are flat versus last year.

  • The numbers: From Jan - April, real estate agents sold 3,312 residential properties in Benton and Washington counties combined, a slight decrease of -0.8% from last year.
  • For perspective, in Benton County, the average price of homes sold through April was $304,505, up 13.3% from $268,505 in the same four-month period of 2020. In Washington County, the average home sale price through March was $280,344, up 10.3% from $243,464 last year.

Quote: “The number of homes sold may stay flat, but prices will continue to increase due to lack of inventory and low rates.” Read more about what's happening in the regional housing market HERE.

Community

Pet Resource Center

Best Friends Animal Shelter

The Best Friends Animal Society broke ground yesterday on a new 20,000 square foot facility called the Best Friends Pet Resource Center in Bentonville.

  • 13,000: The estimated number of animals the Center will serve in a given year. The resource center will be the largest facility for animals in the region.
  • It will sit on 6 of the 100 acres within the 8th Street Gateway Park, and the projected opening date is next summer.

You can read more about the groundbreaking ceremony and facility HERE.

Regional News

Emergence of a Global Heartland

NWA Daily

Bentonville's Heartland Forward is a think and do tank focused on economic development in America's heartland. It released a new set of findings yesterday detailing the increase of the foreign-born population in the center of the country.

  • Big picture: The heartland's share of the foreign-born population has risen from 23.5% in 2010 to 31.1% in 2019.
  • What does this mean for NWA? In Fayetteville alone, the foreign-born population has increased 30% over the past 10 years. "We are a resettling city", said Fayetteville Chamber president.

The report goes beyond just statistics, and discusses causes and predictions. You can find the full write up HERE.

Arts & Culture

Your Summer Plans

NWA Daily

Yesterday, the Momentary in Bentonville released its 2021 Summer Guide about things to do at the museum, which includes film, exhibits, and outdoor activities with food and drinks.

  • With three current exhibits bidding us farewell over the next few weeks, and three new exhibits rolling in this summer, there will be a variety of entertainment options for you and your family.
  • If art isn't your thing, you can still enjoy a nice craft cocktail, beer, bites, bocce ball, or live music on Fridays on the green.

Learn more and discover what all the Momentary has in store HERE.

Health

Speed Reading for Covid

Polina Tankil

An Arkansas diagnostic testing company has received authorization from the U.S. Food and Drug Administration (FDA) for its COVID-19 antibody test.

  • NOWDiagnostics, a Springdale-based company, announced earlier this week that it had been granted Emergency Use Authorization (EUA) for its ADEXUSDx antibody test. This EUA is for use in “moderate-complex settings” and at the point-of-care.
  • Quote: "The ADEXUSDx COVID-19 Test uses the same platform as our other FDA-cleared and/or CE marked, next-generation tests which are affordable, portable, and deliver laboratory-quality results in minutes without any additional supplies."

Discover more about the breakthrough test HERE.  

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