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Bella Vista Real Estate: 2023 vs. 2024 and the Impact of Blue Crane's Investment

By NWALook Crew, Desiree Stock,

Jan 30, 2025
7 min read
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Photo by Yash Mannepalli / Unsplash

Bella Vista Real Estate: 2023 vs. 2024 and the Impact of Blue Crane's Investment

Bella Vista led Northwest Arkansas in 2024 with the most closed sales per capita and ranked second overall in total closed sales. This growth has been driven by high buyer demand, rapidly reducing buildable lots’ availability. The median lot price in Bella Vista was $12,000 in 2024.  Contributing to this trend are developments like the 2,200-acre Blue Crane project and the growing exposure Bella Vista is receiving. While some land is unsuitable for building, many lots remain viable and in high demand. Infrastructure improvements, including the Bella Vista Bypass and world-class mountain biking trails, along with Blue Crane’s acquisition of 2,200 acres, has significantly increased Bella Vista’s desirability. Let’s take an NWAlook and explore how Bella Vista’s housing market has evolved over the past year.

Year-Over-Year Comparison & What the Numbers Tell Us

The number of residential permits issued rose 28% in 2024, reaching 636, compared to 497 in 2023. While the average valuation dipped slightly from $360,354 to $353,901, the average square footage also decreased from 2,604 sq. ft. to 2,493 sq. ft, according to the Bella Vista permitting reports. The price per sqft for permits had a 2.6% increase from 2023 to 2024. This shift suggests that while construction costs are rising, builders are focusing on more efficient home designs and striving to create more attainable housing options for buyers, ensuring continued construction activity.

The median sales price rose 7.3% from $335,500 in 2023 to $360,000 in 2024, indicating a steady appreciation of home values in Bella Vista. This growth aligns with the increasing desirability. 

Similarly, the number of sales increased 17.2%, from 1,202 in 2023 to 1,409 in 2024, indicating stronger buyer activity and demand. More people are choosing Bella Vista as their home, reflecting both the quality of life and opportunities available in the area.

The price per square foot (PPFT) also increased 4.6%, from $194 in 2023 to $203 in 2024, showing that property values continue to rise steadily. 

The days on the market (DOM) edged slightly higher, from 54 to 57, but not enough to be a significant value. 

The number of new listings rose 5.7% in 2024, reaching 1,668 compared to 1,578 in 2023. This increase indicates that sellers are confident in the market's strength, knowing buyers are eager to invest in Bella Vista.

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The Blue Crane Effect

The Walton-backed Blue Crane, known for its transformative developments across Northwest Arkansas, made an impact with its acquisition of 2,200 acres in Bella Vista. This significant investment likely contributed to Bella Vista's real estate growth.

The anticipation of Blue Crane's plans, whether for residential, recreational, &/or community development, has increased interest in Bella Vista. Buyers and investors often respond positively to major projects spearheaded by developers with a proven track record of enhancing community value.

For Bella Vista, this investment means more than just land ownership; it signals a bright future with opportunities for thoughtful growth. This buzz has undoubtedly contributed to rising home prices and increased sales activity over the past year.

What This Means for Bella Vista's Future

As Bella Vista continues to grow, its blend of affordability, community amenities, and natural beauty will remain key drivers of its appeal. With Blue Crane's involvement, the area will likely see enhancements that make it even more attractive to anyone looking to invest in real estate. 

The real estate trends from 2023 to 2024 paint a picture of a thriving community with strong demand and increasing value. Bella Vista is no longer a hidden gem. It's a destination of choice in Northwest Arkansas, and the numbers prove it. For those considering a move or investment in Bella Vista, the time to act may be now, before further development fuels even greater competition.

Source: Northwest Arkansas Board of Realtors

Desiree Stock, Collier & Associates, Executive Broker


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This newsletter is provided for informational purposes only and is not intended as professional advice. The information contained herein is based on sources and information deemed reliable but is not guaranteed to be accurate, complete, or applicable to every situation. NWALook and any associated parties assume no liability for any errors or omissions in the content of this newsletter or any actions taken based on the information provided. By reading this newsletter, you agree to hold NWALook and any affiliates harmless from any and all claims, liabilities, or damages arising from or related to your use of the information provided.

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