Luxury homebuilder enters Northwest Arkansas market with acquisition of Buffington Homes

Fort Washington, Pa.-based luxury homebuilder Toll Brothers Inc. said Tuesday (April 21) that it will acquire nearly all the assets of Fayetteville-based luxury homebuilder Buffington Homes of Arkansas. Financial terms of the deal were not disclosed.

The transaction is expected to be completed in Toll Brothers’ third quarter of fiscal 2026. Its third quarter runs from May through July.

According to a news release, “the acquisition will augment Toll Brothers’ national footprint by establishing a strong presence in the dynamic Fayetteville/Bentonville housing market in Northwest Arkansas.”

Buffington Homes was founded in 2010 and has nine active and coming soon communities in the region. The company’s home prices range from $400,000 to over $1 million. It owns or controls more than 1,500 lots in the region.

Buffington Homes’ senior leadership and all employees will join Toll Brothers. Founding partners and co-owners Clay Carlton and Mike Lamberth will focus on land acquisition and development, while Mike Buffington, co-owner and brother of the late founder Thomas B. Buffington, is stepping away from the business to focus on his family.

“We are excited to join the Toll Brothers team to help take our operations to the next level,” Carlton said. “As the leading luxury home builder in the U.S., Toll Brothers has the brand recognition, operating expertise, and financial strength to accelerate our growth across northwest Arkansas. Our companies also share similar values and a focus on excellence in our industry, making this a perfect fit for our employees and customers alike.”

Toll Brothers was founded in 1967 and became a public company in 1986. It builds new homes and communities in over 60 markets across the United States. The company also operates architectural, engineering, mortgage, title, land development, smart home technology, landscape and building components manufacturing businesses.

The acquisition of Buffington Homes will be Toll Brothers’ 16th homebuilder acquisition since 1995. Tony Avila of Builder Advisor Group was an adviser to Buffington Homes.

“We are excited to be entering the vibrant and growing Fayetteville/Bentonville market, further expanding the geographic footprint of our luxury home building operations across the country,” said Karl Mistry, CEO of Toll Brothers. “Buffington Homes is the leading luxury home builder in this market with exceptional communities, strong financial performance and a reputation for quality. We look forward to leveraging their team’s local expertise and strong land position in northwest Arkansas while adding value and scale to successfully grow the business into the future.”

According to its annual report filed with the U.S. Securities and Exchange Commission, Toll Brothers’ revenue rose by 1% to $10.96 billion in fiscal 2025 from $10.84 billion in fiscal 2024. The company’s fiscal year ends Oct. 31. Net income fell 14% to $1.34 billion from $1.57 billion. Home sales rose by 4% to 11,292 from 10,813. Average sales price declined 2% to $960,200 from $976,900.

In the first quarter of fiscal 2026, which ended Jan. 31, revenue increased 15.41% to $2.14 billion from $1.85 billion in the same period in the previous fiscal year. Net income rose 18.7% to $210.93 million, or $2.19 per share, from $177.70 million, or $1.75 per share.

Home sales fell 4.62% to 1,899 in the first quarter from 1,991 in the same period last year. Average sale price rose 5.65% to $976,800 from $924,600.

Shares of Toll Brothers (NYSE: TOL) were trading Friday (April 24) at $148.67, down 58 cents or 0.39%. In the past 52 weeks, the stock has ranged between $98.14 and $168.36.