When you search for a home, what are the key words that catch your attention? Freeway access? A view? What about… Trader Joe’s? If it’s the latter, then you may have stumbled onto a little real estate secret. Apparently people who own homes near Trader Joe’s grocery stores saw higher home price appreciation, according to data released from real estate analytics firm ATTOM Data Solutions and as reported by Realtor.com. The study looked at 1,275 ZIP codes nationwide with a least one Whole Foods store, one Trader Joe’s store and one ALDI store.
Indeed, homeowners nearest to a Trader Joe’s have seen an average 5-year home price appreciation of 67%, compared to 52% appreciation for homeowners near a Whole Foods and 51% near an ALDI. Average appreciation for all ZIP codes with these grocery stores nationwide is 54%.
Clearly, this trend is taking the “location, location, location” mantra to a whole new level. Who would have thought that proximity to reduced guilt guacamole, soy chorizo and cookie butter would increase your home’s value?
With that in mind, we scoured Coldwell Banker’s current California housing stock to find the homes that are nearest to the ever-popular TJs. Our advice: snap ’em up quickly because they surely won’t be on the market long once word gets out!