The talk of the town has been whether the Sacramento Kings will stay in Sacramento or move to a different arena in Southern California (Anaheim). I won’t rehash all the details here, but I did want to compare the past thirteen years of the Kings’ NBA seasons with the market median price in Sacramento over that same time period. Is there a connection between NBA wins and property value? What do you see?
Let me make it clear that I don’t really believe there is any connection whatsoever between property value and how well the Sacramento Kings have done. I just find it interesting to think about out of the ordinary faux-indicators for real estate. When we do analyze the graphs above though, there is a similar trend with property values beginning to decline in 2005 and the Kings slipping to either 4th or 5th place from 2005 onward. It seems as if both home prices in Sacramento and our NBA team reached their peak in 2005. Also, when the Kings began to play extremely well for four seasons beginning in 2001, the real estate market was booming in Sacramento. There is even evidence of a slight uptick in each graph above for the most recent years. Median price graph by Wright Real Estate. Coincidence or not, you be the judge. 🙂
What sort of impact will it have on the Sacramento area if the Kings do leave?
If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our appraiser website or via Facebook.