RT Journal Article
SR Electronic
T1 Spatial and Temporal Variation in the Housing Market Values of Lot Size and Open Space
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 51
OP 73
DO 10.3368/le.85.1.51
VO 85
IS 1
A1 Seong-Hoon Cho
A1 Christopher D. Clark
A1 William M. Park
A1 Seung Gyu Kim
YR 2009
UL http://le.uwpress.org/content/85/1/51.abstract
AB This research analyzes spatial and temporal variation in the effects of lot size and proximity to open space on residential home values in a single Tennessee county. The findings show that the value of proximity to greenways, parks, and water bodies increased over time, while the value of lot size and proximity to golf courses fell. Proximity to open space is found to be a substitute for lot size, although the degree of substitutability has weakened over time. Geographic variation in the marginal effects of lot size and proximity to open space is analyzed using locally weighted regression analysis. (JEL C31, Q51)