What Drives Land Prices in Your Market? The Use of Multiple Regression Analysis to Confirm the Significance of Determinative Real Estate Value Elements
| dc.creator | Wild, Martin | |
| dc.date | 2017-04-01T14:10:16Z | |
| dc.date.accessioned | 2026-07-09T08:39:26Z | |
| dc.description | Multiple regression analysis (MRA) has proven to be a useful tool to predict selling prices in a mass appraisal context. The significance of determinative value elements – identified by more conventional methods such as sale verification or pairings – can objectively be confirmed or rejected by the practicing appraiser employing MRA. This is demonstrated with the analysis of a small set of sales of rural lots in southeast Alaska. This article aims to: • Demonstrate the strength of MRA to explain rather than to predict selling price or value of real estate in dynamic markets; • Encourage an increased use of regression techniques properly applied by those who are familiar with MRA but do not routinely use statistical methods; and • Show the usefulness of MRA in supporting area market trends, in the selection of comparable sales and in the application of qualitative adjustments for difficult-toquantify property attributes in specific appraisal assignments. | |
| dc.identifier | doi:10.22004/ag.econ.189839 | |
| dc.identifier | https://ageconsearch.umn.edu/record/189839/files/279_Wild.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/189839 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/601282 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/189839 | |
| dc.title | What Drives Land Prices in Your Market? The Use of Multiple Regression Analysis to Confirm the Significance of Determinative Real Estate Value Elements | |
| dc.type | Text |