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Which Came First: Target or Higher Valuations?

IRVINE, CA—A recent RealtyTrac report shows that homes near Target tend to have higher valuations than homes near Walmart. GlobeSt.com dives deeper into this phenomenon EXCLUSIVELY with the firm’s Daren Blomquist.

Daren Blomquist Blomquist: “Even the presence of local retailers can make a difference not only to your quality of life as a homeowner, but also your financial investment.”

IRVINE, CA—A recent RealtyTrac report shows that homes near Target stores tend to have higher valuations than homes near Walmart stores. The report revealed that among homeowners who sold in 2015, those near a Target saw an average 27% increase in home price since they purchased their home, which equates to an average price gain of $65,569, compared to 16% appreciation and an average price gain of $24,900 for homeowners near a Walmart. GlobeSt.com sat down with RealtyTrac’s VP Daren Blomquist to discuss this phenomenon, what causes it and what it means for the real estate markets that house these stores.

GlobeSt.com: How do you think proximity to a Target causes home valuations to rise more than proximity to a Walmart does?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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