The Effects of Pro Sports Teams Movements On Real Estate Prices

[Russell Brazil]

Here is a topic that would not come up that often, as it is something that is rare that happens. What do you see to prices in and around pro sports arenas as teams move into or out of a market.  We see with multiple NFL teams looking to leave their current cities, could we see a significant drop in prices near such arenas in San Diego, St Louis etc.?

In my local market of DC we have seen recently a sports team move here and build a new stadium (Montreal Expos becoming the Washington Nationals). This sparked in the neighborhood where they built the stadium a bunch of gentrification and run up in prices in that general vicinity.  Similarly, prior to that the building of the Verizon Center where the Washington Wizards play sparked gentrification of the Chinatown neighborhood in DC.

Also has anyone had any luck in buying ahead of such change? I tried to buy a property near the Nationals stadium before they were there and my wife vetoed it, sigh.