Proximity to Specialty Grocers Raises Property Values

Homes situated within a mile of specialty grocery stores such as Trader Joe’s or Whole Foods gain higher appreciation and sell for a better price than other homes in the area, according to the new paperback edition of Zillow Talk.

Comparing the phenomenon to that of Starbucks, co-authors of Zillow Talk, Spencer Rascoff, Zillow Group’s CEO, and Chief Economist Stan Humphries, have found during their research that between 1997 and 2014, Trader Joe’s and Whole Foods have consistently affected house price in their vicinity. This has raised their value to over twice the median price of homes for the rest of the country over the period.

“Whole Foods and Trader Joe’s are likely doing heavy research to identify up-and-coming markets to open new stores,” commented a Zillow spokesperson. “However, at the same time, amenity-rich neighborhoods are very desirable to home buyers.”

One Move Benefits Two Stores

When Candy For All Occasions moved to a Jennersville Shopping Center, it created an opening in its quaint, historic little building filled with nooks and crannies for Ashley Rector, Betsy Beehler, and Sandi Bunker to create Rooted, a location where local artists can present and sell their wares.

Finding the perfect venue in the rustic building, the store has quickly grown to become the favorite gift shopping spot for people looking for something unique for their loved ones. The move also has significant advantages for Sue Ford, owner of the 25-year-old Candy For All Occasions, as its new location offers more parking and the stable temperature necessary to control the production of chocolates, the store’s most well-known home-produced item.

While the store is open throughout the year, some holidays bring in really big crowds.