In a recent study, it was found that homes located near grocery stores like Trader Joe's can see a significant increase in value, with some areas experiencing gains of up to 40% to 45%. This phenomenon, known as the 'grocery anchor premium', is attributed to the convenience and foot traffic that these stores bring to a neighborhood.
The study also found that homes in highly walkable neighborhoods, with easy access to transit and amenities, can command a price premium of between $4,000 and $34,000 over comparable properties in car-dependent areas. For example, in Seattle's Queen Anne neighborhood, entry-level condos priced near $300,000 climbed to over $450,000 after a Trader Joe's store opened in the area.
For Calgary buyers, sellers, and investors, this trend is worth considering. When evaluating a property, proximity to amenities like grocery stores can be a major factor in determining its value and potential for appreciation. As the city continues to grow and develop, neighborhoods with easy access to grocery stores and other amenities are likely to become increasingly desirable.
Sources: Zoocasa