In 2016, a report from Zillow determined that new Whole Foods and Trader Joe’s grocery stores increased neighborhood home values within a mile of the supermarkets.*
This was before Amazon acquired Whole Foods, and their data spanned many years, finding “etween 1997 and 2014, homes near a Trader Joe’s or Whole Foods appreciated an average of 148 percent and 140 percent, respectively. The typical U.S. home appreciated by 71 percent over the same period.”
In December 2021, a new Whole Foods Market opened under a beautiful new apartment development in my Oakland neighborhood of Temescal / Rockridge.
Does grocery store location matter as much in 2022 as it did in 2016 given people’s online ordering and delivery habits since the pandemic?
The difference between 2016 and now is that the market has a prominant Amazon and online grocery ordering pickup area.
This is an unprecedented opportunity to track on a local level what happens to home values — of course with the caveat that they might have risen due to the demand from Silicon Valley and San Francisco folks moving to the area for the beautiful weather, lower home values, and great culture.
(Hey I’m a Realtor now and have always sung the little-known praises of Oakland!)
Follow this blog and follow me on Instagram for updates on home values as well as changes in the food retail scene once this Whole Foods Market is open. Would love to hear your thoughts too!
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Houses Near Trader Joe’s or Whole Foods Reap Better Property Value Returns (The Street, 2/5/16)
Susie Wyshak is a real estate agent with Kelller Williams Oakland.
DRE #02144226
