Home News Your grocery store may determine home value

Your grocery store may determine home value

by admin
0 comment

Editor’s Note: Every Friday, WRAL TechWire takes a deep dive into the Triangle real estate market.

+++

Morrisville – how much is your house Whether your home is near a particular grocery store can have a big impact on its value.

An analysis of real estate and real estate data shows that living near certain grocery stores can be a factor in home value.And it can make a difference for Triangle residents who are thinking of buy or sell a house in the triangle In the coming weeks and months.

new research A study by ATTOM found that if you live near a Trader Joe’s, your home can be worth more than if you live near a Whole Foods. However, if the owner lives near ALDI, they tend to be based in areas with a much lower average selling price than where Whole Foods and Trader Joe’s are located. You may be able to make a bigger profit out of it.

Rick Sharga, Executive Vice President of Market Intelligence at ATTOM, said in a statement: “It turns out that being located near a grocery store is not only a matter of convenience for homeowners, but it can also have a significant impact on stock and home values. , can vary considerably depending on what grocery stores are in your neighborhood.”

Currently, preliminary data from the Triangle Multiple Listing Service indicates that across Triangle: Median home sales price rises again After falling from an all-time high set earlier this year.

Inflation also hits your grocery list – here’s how to spend more and less

Where do you buy your groceries?

According to a study looking at current average house prices and five-year house price increases, the average house price for real estate near Trader Joe’s is $987,923.

September 2021, Trader Joe’s opens new Triangle store in Morrisville. According to Triangle Multiple Listing Service data on closed sales from July 1, 2022 through his November 30, the average sale price for Morrisville properties was over $561,175. A year ago, the average selling price was $473,395. This means that the average home sales price increased by $87,780 or 18.5% year over year.

Five years ago, the average selling price in Morrisville was $346,846. During that time, the average home sale price increased by $214,329, or 61%. This is better than the national average for the entire ATTOM dataset, with a typical value increase of 49% for Trader Joes.

Triangle house prices rise even as sales plunge to lowest level since 2019

Comparison of ALDI and Whole Foods

An ATTOM survey conducted near Whole Foods found that the average home price was $891,416, a 45% increase in home prices over five years.

And near ALDI, the average home price is $321,116, making it more suitable for investors to buy, the data firm said.

“Properties near ALDI were ripe for investors, with an average gross flipping ROI of 54%, properties near Whole Foods had an average gross flipping ROI of 28%, and Trader Joe’s 25%,” the report states. points out. “Home sellers’ average ROI for properties near ALDI is 61%, compared to 58% for properties near Trader Joe’s and 51% for properties near Whole Foods.”

ALDI is open a shop in hillsboro one year ago.Most recent year-over-year sales data Between October 2021 and October 2022, Hillsboro’s average selling price increased 16.1% from $422,051 to $489,958, according to the Triangle Multiple Listing Service.

Infographic

ATTOM 2022 Grocery War Analysis

Image: ATTOM Data Solutions.

+++

WRAL TechWire Reporter Jason Parkeris also a licensed real estate agent in North Carolina and works with WRAL.com journalists to track and present market data and report on how people are experiencing the region’s changing real estate market. doing. These special reports use the category tag “triangle real estate” Also “triangle real estate market.

You may also like