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

15 Pages Posted: 16 Oct 2018

See all articles by Yulia Chikish

Yulia Chikish

West Virginia University - Department of Economics

Brad R. Humphreys

West Virginia University - Department of Economics

Adam Nowak

West Virginia University

Date Written: September 24, 2018

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.

Keywords: Repeat Sales Regression, Property Values, Professional Sports, Local Amenities

JEL Classification: R13, R58, H71, L83

Suggested Citation

Chikish, Yulia and Humphreys, Brad R. and Nowak, Adam, Sports Arenas, Teams and Property Values: Temporary and Permanent Shocks to Local Amenity Flows (September 24, 2018). Available at SSRN: https://ssrn.com/abstract=3254241 or http://dx.doi.org/10.2139/ssrn.3254241

Yulia Chikish

West Virginia University - Department of Economics ( email )

Morgantown, WV 26506
United States

Brad R. Humphreys (Contact Author)

West Virginia University - Department of Economics ( email )

Morgantown, WV 26506
United States

Adam Nowak

West Virginia University ( email )

PO Box 6025
Morgantown, WV 26506
United States

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