I used to live within a couple of miles of the mall and visited maybe once a year. I don't think it affects real estate values in our area.

If you want what they have you will drive to get it. Nobody wants ton see stores close down as it throws a wet blanket on the area's economy and creates worry.

We have a few malls in our area - I think by now most areas have at least one shopping mall

The "mall concept" is definitely evolving and it's very location-specific.  So many factors come into play.  

We haven't had a mall closing in over 20 years and it would depend on the type of mall it is.

I don't see the malls closing very soon, and I'm not sure about the impact on real estate values. Looking over a malls, or living next to one is not likely to be an advantage, but having one close by will be a plus for some.

John DL Arendsen The malls in my area are all in commercially zoned areas. They don't have much impact on residential sales. However, I would think if one closed down it might bring the commercial area down with it and would cause a ripple effect among the businesses that depend on the malls demographics. This would probably affect residential sales and values.

I am seeing stores that utilize web sales and in store sales flourish while those stores who dont, going out of business. In NH smaller malls have already gone under. With more empty stores than full ones, the wrecking ball has taken them down and new mixed use developments in their place. We do not have an abandoned malls, but do have newly abandoned factories where the jobs where all taken over seas. 

We don't have any malls in my county. I don't know how this would affect real estate values. 

We had a large older mall close and get replaced with a Car Dealership. As for the mall being a driver on the local real estate I less likely to believe that now day with major anchors closing, such as Sports Authority, Some Best Buys and Bed Bath and Beyond to name a few in the South Florida market.

I think the bigger draw if for the tourist traveling into South Florida, shopping and taking back home.  Malls near that Airport and Hotel seem to be doing the best.

They tore our mall down recently, replaced it with a Tech College and a Call Center on the site.

We live in a changing world.

It depends on numerous factors.

They could improve - if the malls close, that RE will likely be sold and used for housing here as we are in need of land for more residential here in Charlotte!  I don't see our malls closing for a very long time though!

I guess it depends on how close the mall is. I've seen homes backing up retails such as home depot etc stay on the market for quite sometime. The builder kept on reducing the price and at one point offered my buyer $30k less than the already reduced price. My buyer still walked away.

I've never had a buyer say they wanted to live near a mall. Maybe affordable housing for employees would be different. I did hear a listing agent tell a prospective buyer that she believed her listing would increase in value because there was talk of a possible mall expansion. I thought that was a very RISKY REMARK.

If it were to close and become a "blighted", unoccupied area for a long time, it might be an indication of lack of jobs and buying power in the area, which would impact real estate values.

John,

I agree with Debbie Reynolds 

I would think that abandoned malls would have a negative effect until the properties are re-purposed.

Retail needs rooftops...Rooftops need income....Income needs jobs...

Not at all that it affects real estate values. But having a mall close to a neighborhood or to a certain community can influence home buyers towards a home purchase in that area. That is - convenience-wise!

People love to shop

A vacant or mostly vacant mall can have an effect on value. Most well placed malls are in no danger of closing in the forseeable future!

Too close is negative due to traffic during the holidays.

1 mile or more is positive for convenience.

Long term the trend is to redefines 'brick and mortor' to be experience locations that will keep them vital in the community.

Any mall constructed in 1970 is destined to become a community of 500 townhouses soon.

So many variables you pose here John. It depends on so many factors from noise, traffic, etc.

Across the street?  Probably not a good thing.  Otherwise, unless it attracts lots of congestion and traffic, it's not bad.

I would think it depends on the mall and the location.

Bricks and mortar is not on an upward trend here for retail

I've not seen a mall close in our area....never....

We get 1% revenue generation into the city coffers that pays for the police & fire depts. Taxes would increase obviously.

I would think it depends if its thriving or not

I haven't really given this much thought, as I don't believe malls in prime areas will be closing down.

Traffic issues can be a problem for some. On the other hand, home buyers want shopping convenience.

Probably not as important as major high tech employers nearby. Itself will create higher test score schools.  

Shoping center creates traffiic congestion near by.  

It depends on the Mall.  We have a few that turned into a ghost town and were eventually torn down.  That didn't help home values during that time.

Most buyers want to be close to shopping, but outlet malls get lots of traffic at Christmas.   It could affect values.

I think retailers muddied their own waters by putting their black friday sales online too.  I bought stuff from Gander Mountain on Thursday and the closes physical store is three states away!

I don't know if it's a decline in sales or an increase in the "shop local" and "boycott black friday" movements.  I've seen a steady increase in posts about boycotting the stores over the last few years.

I don't think so. I've heard Starbuck's and Trader Joe's being nearby help some.

sometimes the malls are such old stock that it is good to close them down and rebuild them to suit new consumer demand - They are doing that with a big mall in ROckville - it is going to be  more consumer friendly and integrated into the community with housing and businesses - so it is not some isolated building on a big road

Depends on the mall and whether it just got there or been there for years... too close people may not like the congestion though.

Not in my area