Grocery Stores Reflect Home Values Vs. Appreciation
Central Fla. home values rise faster for homes located near an Aldi, but overall home values are higher for properties positioned near Whole Foods or Trader Joe’s.
ORLANDO, Fla. – According to ATTOM Data Solutions, Orlando homes near a Trader Joe’s have higher median sales prices, but those near an Aldi record the best home value appreciation.
The analysis of Orlando metro ZIP codes with Trader Joe’s, Aldi and Whole Foods reveals that homes closest to an Aldi posted an average five-year appreciation rate of 67%, versus 60% for Whole Foods and 45.5% for Trader Joe’s.
However, the median sales price last year was $415,000 for local homes closest to a Trader Joe’s, compared with $338,333 for homes nearest a Whole Foods and $249,112 for those nearest an Aldi.
Realtor Tamara Combs from Winter Garden-based Combs Premier Realty Group said previously that local homes are in demand, and proximity to commercial properties like grocery stores and doctors’ offices is especially valuable right now.
“While sellers can’t necessarily change the commercial real estate surrounding their property, those that are close by are definitely becoming more valuable,” Combs said.
Source: Orlando Business Journal (12/25/20) Soderstrom, Alex
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