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Could recreational pot boost your home price?

Posted on February 4, 2018 by Community Real Estate

Source: The Mercury News

As recreational marijuana sales ramp up throughout the Bay Area, could the newly legal drug end up creating an unexpected type of high — in our real estate market?

Researchers looking at the impact of legalized recreational marijuana on Denver’s home prices found a surprising trend: dispensaries that began selling recreational marijuana had a “large positive impact on neighboring property values.”

After recreational sales became legal, houses close to a participating dispensary saw their value increase more than 8 percent relative to homes located slightly farther away, the study found. It’s a small study based on data from only one metro area, but the research — the first of its kind — could provide an important glimpse into the potential impact of legalization.

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Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!

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