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Your Workout Preferences Could Help Boost Home Prices

Real estate agents are increasingly calling out proximity to gyms such as CrossFit in listings or when showing clients condos or homes—something previously only done with good schools and restaurants.

In fact, the percentage of listings in luxury apartments that contained the words “gym,” “weight room” or “workout studio” rose to 11 percent in January 2016 versus 7.4 percent in 2010, according to data from real estate site Redfin. In all other apartment buildings and housing developments, the percentage of gyms increased to 6.7 percent in January 2016 compared with 3.9 percent in 2010.

In addition, living near a luxury gym or a boutique studio such as CrossFit may actually help your home values. The connection between real-estate prices and strong lifestyle brands has been made before. The “Starbucks Effect” has reportedly helped the value of homes within a quarter-mile of a Starbucks location rise faster than those not near the coffee shop. Between 1997 and 2013, homes within a quarter-mile of Starbucks increased in value by 96 percent, compared with 65 percent for all U.S. homes, based on a comparison of Zillow Home Value Index data with a database of Starbucks locations.

That said, it might not be just CrossFit or a Starbucks effects that boost home values, but rather it could be proximity to a commercial corridor that contains all types of businesses, whether it’s a gym, coffee shop, restaurant, shop or workplace. And certain high-end gyms and coffee houses are a good sign that the neighborhood is thriving.

Home workers are willing to pay a lot more to live in places with highly walkable communities, which Redfin records via its “Walk Score,” which is calculated on a 100-point scale. An increase in just one Walk Score point boosts the price of a U.S. home by an average of $3,250, according to a recent Redfin study.