I have heard that property values increase near rail trails, is that true?
Below we have collected a few sources to support that statement. “Homes sales were examined in the seven Massachusetts towns through which the Minuteman Bikeway and Nashua River Rail Trail run. Statistics on list and selling prices and on days on the market were analyzed. The analysis shows that homes near these rail trails sold at 99.3% of the list price as compared to 98.1% of the list price for other homes sold in these towns. The most significant feature of home sales near rail trails is that these homes sold in an average of 29.3 days as compared to 50.4 days for other homes”. Home Sales Near Two Massachusetts Trails, Jan. 25, 2006.iv Craig Della Penna. “In a survey of adjacent landowners along the Luce Line rail-trail in Minnesota, 61 percent of the suburban residential owners noted an increase in their property value as a result of the trail. New owners felt the trail had a more positive effect on adjacent property values than did continuing owners. Appraisers and real estate ag
