Do we need better performances from the Bears to see Chicago housing prices soar?
February 8th, 2013 categories: Chicago Real Estate News
As Chicagoans watched the 49ers and Ravens battle it out in the Super Bowl Feb. 3, more than a few undoubtedly wished that the Bears were playing.
Turns out, even those homeowners who aren’t football fans should be rooting for the Chicago Bears to reach the Super Bowl each year. That’s because, as a recent blog post on RealEstate.com showed, the cities whose pro football teams make the big game the most often tend to boast higher housing values.
According to the RealEstate.com story, of the 10 NFL teams that have appeared in the Super Bowl the greatest number of times, seven come from cities that have high median home prices when compared to the national median home price.
The median home price in the United States now stands at $216,700. But Boston, home of the New England Patriots who have been to seven Super Bowls, boasts a median housing value of $375,700. In Washington DC, where the Redskins have been to five Super Bowls, the median housing value stands at $443,700.
The San Francisco 49ers have been to five Super Bowls. The median housing value in that city is $751,600, while in New York, home to the Jets and Giants and their five Super Bowl appearances, the median housing value is $517,900.
If you’re a fan of the Chicago Bears, you know that they’ve only reached the Super Bowl twice, winning once and losing their second trip.
Of course, there are many factors that account for a city’s median housing value. Is the city a place where people want to live? Is it located near jobs centers? Does it boast good schools? Is there a busy night life, plenty of restaurants and plenty of things to do?
Those are the more important factors that determine housing values. It’s why we’re fortunate to live in Chicago, even if the Bears rarely make it to the big game. Chicago is a desirable, U.S. city. That will also help protect our housing prices from the bigger drops that other U.S. markets have seen.
Bear Down!
Hello there! This article couldn’t be written much better! Looking at this post reminds me of my previous roommate! He always kept preaching about this. I’ll forward this post to him.
Pretty sure he will have a good read. Thank you for sharing!
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