Marijuana and Real Estate: A Budding Issue

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Highlights

  • Currently, only one to two percent of residential respondents where marijuana is legal for medical or for medical and recreational use were aware of their MLS containing a specific marijuana field.
  • One percent of members were marijuana specialists in residential real estate.
  • About one-third of members had seen addendums added to leases which restrict growing or smoking on properties.
  • More than three-quarters of members have not seen a change in residential property values near dispensaries.

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Marijuana & Commercial Real Estate

In states where medical marijuana is legal, commercial members saw an increased demand in warehouses, storefronts, and land.