GREEN BAY, Wis. (WFRV) — When the Packers do well in the regular season, and the postseason, it can have major effects on the local economy, including the housing market.
“When the Packers are in the playoffs, there’s a lot more buzz and excitement,” Mark Olejniczak, President, Broker, and Owner of Mark D. Olejniczak Realty said.
That statement rings true for all of Titletown, but especially in the neighborhood surrounding Lambeau Field.
“[I] have had conversations with appraisers and realtors who felt as though when the Packers are winning, they command better prices for Packer homes and properties around the stadium,” Olejniczak said. “It’s created a brand new real estate market for Brown County within a block or two of Lambeau Field.”
A hallmark of that market is big sales of not-so-big homes.
“We just sold one that touches the blacktop of Lambeau for half a million dollars,” Olejniczak said, “a three-bedroom ranch that normally might have been $150,000.”
Some of the homes that back up to Lambeau have been bought by companies, but others are still privately owned, and then there are the houses a few blocks from the field.
“A lot of the people that have ownership of those two, three, four blocks out are hoping that they will be able to have a big windfall like those ones closer,” Olejniczak said, “but I haven’t seen that happen quite like they thought it would.”
With at least one more home Packers game ahead, there is an opportunity for anyone who owns a home near Lambeau Field to make some money: on the online rental service Airbnb, many in the area list their homes or apartments for a nightly rate.
A lot of the homes listed on the app are several blocks or even miles from the stadium.
“Fix, six, seven blocks away, prices are pretty much the same as where they would be in any other Southwest or Ashwaubenon area,” Olejniczak said.
Those are homes available at a normal market price, with all of the perks of living near Lambeau Field.
“They could buy one and walk to the games,” Olejniczak said. “It’s more appealing than it ever was.”
Moving forward, apartments and condos being built in the Titletown District could impact the value of the current “Packers houses,” but Olejniczak said only time will tell.