We find that the introduction of a dispensary increases home transaction prices by 7.7% for houses within 0.25 miles of a new dispensary relative to control houses on average, but this impact diminishes to around 4.7% for houses within 0.25–0.5 miles of a new dispensary. The effect disappears entirely for houses further out between 0.5 and 0.75 miles. Importantly, we also find that the first dispensary to an area has a slightly larger effect on housing prices than the subsequent dispensaries, meaning the primary treatment effect should be viewed as conditional on the presence of preexisting dispensaries.
support/ research / evidence for positive effects