“Football is the great American pastime, and the Super Bowl is like the last great American campfire,” said Bev Thorne, Century 21’s chief marketing officer.
. “This was an outgrowth of that.”
The question was this: What is the impact on a city when the hometown team does well or doesn’t do well? Century 21 looked at teams’ successes, population growth from census numbers, home value.
appreciation and attendance rates. And the correlation between on-the-field success and real estate prices was evident:
Four of the five cities with teams that went from a losing record in 2010 to a winning record in 2011 saw average home.
sales prices increase between 2010 and 2011.
After winning the Super Bowl, Green Bay, Wis., saw a population growth of 1.7 percent in 2011, compared with runner-up Pittsburgh’s 0.6 percent growth.
Going from a record of 10-6 in 2010 to 2-14 in 2011, Indianapolis, the home of the Colts, saw a 19.8 percent decrease in home sales.
Eight of the nine cities with a team that had attendance rates of 100 percent or more in 2011 saw average home sales prices rise that year.
The biggest surprise?
“I guess for me, that it played out exactly as we thought,” said Thorne, a Packers fan.
As for Tebow, after he was drafted by Denver in April 2010, that city’s home value index.
grew 1.46 percent. Since he was traded to the New York Jets in March 2012, New York City has seen its home value index grow 3.87 percent.
“There are 73 million other factors that impact New York,” Thorne said. “But we’re ascribing them to Tim Tebow.”