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Sports Arenas, Teams and Property Values: Temporary and Permanent Shocks to Local Amenity Flows

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Listed:
  • Yulia Chikish

    (West Virginia University)

  • Brad Humphreys

    (West Virginia University)

  • Adam Nowak

    (West Virginia University)

Abstract

Professional sports facilities and teams generate local amenity flows in cities that may affect property values. Previous research shows evidence of important positive and negative local amenity flows based on case studies of changes in residential property values in specific cities. We analyze changes in residential property values in Oklahoma City over a period, 2000 to 2016, where both temporary and permanent exogenous shocks to local sports-related amenities occurred. Results from hedonic price models and repeat sales regression models show that nearby residential property prices increased after the opening of a new arena and the arrival of a new, permanent NBA team in the city. The presence of a temporary NBA team visiting the city had a weaker impact.

Suggested Citation

  • Yulia Chikish & Brad Humphreys & Adam Nowak, 2018. "Sports Arenas, Teams and Property Values: Temporary and Permanent Shocks to Local Amenity Flows," Working Papers 18-10, Department of Economics, West Virginia University.
    • Handle: RePEc:wvu:wpaper:18-10
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    File URL: https://researchrepository.wvu.edu/cgi/viewcontent.cgi?article=1000&context=econ_working-papers
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    References listed on IDEAS

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    1. Gabriel M. Ahlfeldt & Georgios Kavetsos, 2014. "Form or function?: the effect of new sports stadia on property prices in London," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 177(1), pages 169-190, January.
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    Cited by:

    1. Propheter, Geoffrey, 2020. "The effect of a new sports facility on property development: Evidence from building permits and a localized synthetic control," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 50(1), December.

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    More about this item

    Keywords

    repeat sales regression; property values; professional sports; local amenities;
    All these keywords.

    JEL classification:

    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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