Cheesesteak proximity can boost home price, research finds

Note to listing agents: Consider putting nearby “cheesesteak” options in your real estate listings.

The real estate market in Philadelphia has been pretty hot of late. So it’s understandable that Realtors might pull out all the proverbial stops to get their listings noticed (consider the mannequin house of Richmond, Texas).

Real estate firm Estately recently identified a Philly-centric term that seems to be associated with an uptick in home prices: cheesesteak.

Estately number crunchers examined sale data for homes sold within the city limits in the past 12 months, discovering that the median price was $175,000. When they re-crunched the numbers examining only the listings that mentioned cheesesteak, they found the median sale price to be $70,000 higher, at $245,000. This isn’t peer-reviewed data, but we kind of like the idea of a good sandwich leading to greater sales figures.

Our own anecdotal analysis indicates 5,420 listings in Philadelphia proper. Filtering for cheesesteak narrows the field to five homes, which seem to share neither features, neighborhood, nor listing agents in common. And while searching for restaurant yields 731 homes, it must be noted that hoagie produces just two properties and roast pork and soft pretzel come up empty handed.