Oscars Affect One Movie-Titled Real Estate Market - News | Think Realty
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Oscars Affect One Movie-Titled Real Estate Market

When relevant and appropriate, you may be able to get more eyes on your listings by taking advantage of national entertainment news. Example: Ebbing, Missouri.

After the Academy Awards announced the movie “Three Billboards Outside Ebbing, Missouri,” as an Oscar contender, the real estate market saw an increase in viewership – just not the market you might expect. According to the National Association of Realtors (NAR), visitors to Realtor.com spent a fair amount of time researching both Ebbing, Missouri, and Sylva, North Carolina, where the movie was filmed.

As it turns out, Ebbing, Missouri, is a fictitious town. When site visitors looked for listings in the area, they found nothing. However, Sylva, North Carolina, saw a substantial boost in the wake of Oscar wins for best actress (Frances McDormand) and best supporting actor (Sam Rockwell). Sylva is a town of about 2,600 people located in the Appalachian Mountains about an hour southeast of Asheville. Its old-fashioned main street was prominently featured in the film, and local residents rented out homes and businesses for the production. The area reportedly made about $13 million from the film’s productions.

While eyes on local listings may have increased, however, sales have not been dramatically affected, local agents reported. However, one insisted, the market was already “hot” because homes remain on market for less than a month on average. “People come here for a lifestyle change,” the local broker, Kenny Potts, said. “The schools are good; the climate is mild, there’s hiking, river sports, a very active senior community – something for all ages.”

Sylva is certainly not the first or only market to benefit from star-studded exposure. Atlanta, Georgia, for example, has spent the past decade courting film and television production companies with hefty tax incentives that have brought in people wishing to live among the zombies of “The Walking Dead,” catch sight of celebrities on set, or, most importantly for the extended metro area around Atlanta, move to the area to work in production. In 2015, exactly 10 years after Georgia’s initial incentive passed in 2005, 248 films were shot in the state with production budgets totaling $1.7 billion.

Investor Insight:
When relevant and appropriate, you may be able to get more eyes on your listings by taking advantage of national entertainment news. Example: Ebbing, Missouri.


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