Target versus Walmart?
The discount retailer battle continues as a new study suggests property values near Target stores tend to appreciate faster than those near Walmart.
Researchers for RealtyTrac.com found that homeowners who sold in 2015 near a Target saw an average 27 percent increase in their home value or an average price gain of $65,569 since the original purchase date. Homeowners who sold near a Walmart saw an average appreciation of 16 percent or price gain of $24,900.
These figures are compared to a 22 percent appreciated value increase or gain of $40,626 for all homes sold in 2015, according to the report.
Derrick Duckworth, a realtor with Area West Realty, helped the AJC contextualize study data to the Atlanta market.
"Target happens to be a more desirable big box retailer for its more affluent consumers," said Duckworth. "Target stores tend to build in more stable and higher income communities to begin with."
Working with Duckworth and MSL.com, a real estate sourcing database, we found the following metro Atlanta homes near these Target and Walmart store locations reported significant increases in appreciation:
Clayton County
Walmart Supercenter, 6065 Jonesboro Road, Morrow.
More than 100 percent increase or price gain of $77,000.
Cobb County
Target, 2201 Cobb Pkwy. SE, Smyrna.
A 24 percent increase or price gain of $40,100.
RELATED: Metro Atlanta homes near these grocery stores appreciate faster: Study
Dekalb County
Walmart, 5401 Fairington Road, Lithonia.
A 33 percent increase or price gain of $26,000.
Fulton County
Target, 1275 Carolina St., Atlanta.
A 17 percent increase or price gain of $71,000.
Target Camp Creek, 3660 Marketplace Blvd., Atlanta.
A 91 percent increase or price gain of $43,000.
Gwinnett County
Target, 875 Lawrenceville Suwanee Road, Lawrenceville.
An 81 percent increase or price gain of $96,000.
Henry County
Super Target, 1850 Jonesboro Road, McDonough.
A 43 percent increase or price gain of $55,000.
Duckworth said the Great Recession from 2007 to 2009 impacted Georgia and the Atlanta metro region harder than other U.S. regions.
"The Atlanta metro housing market has recently started to stabilize and rebound in the last year," he said. "So much more goes into home appreciation values than just the type of retailer a community has within its boundaries; it's about a comprehensive plan."
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