| Variable (Dependent Variable = ln(Sale price)) | Pooled Model with No Fixed Effects | Pooled Model with Census tract × Sale year Interaction Fixed Effects | Property Fixed-Effects Model |
|---|---|---|---|
| Percentage of view in farmland | -0.00588*** (0.000218) | 0.00009 (0.00078) | 0.00274*** (0.000499) |
| Percentage of 200 m buffer around property in farmland | 0.00102*** (0.00203) | 0.00297*** (0.00107) | 0.00199*** (0.000261) |
| Percentage of view in forest | 0.000436*** (0.000096) | -0.000349 (0.000424) | -0.00289*** (0.000349) |
| Percentage of 200 m buffer around property in forest | 0.00169*** (0.000080) | 0.00221*** (0.00060) | 0.000628*** (0.000139) |
| Percentage of view in grassy lands | -0.00251*** (0.00019) | 0.000297 (0.00127) | 0.000135 (0.000411) |
| Percentage of 200 m buffer around property in grassy lands | 0.00298*** (0.000091) | 0.00315*** (0.00058) | 0.00144*** (0.000135) |
| Diversity of view (number of land cover types in view as percentage of all types) | -0.00235*** (0.000065) | 0.000598*** (0.00023) | -0.00103*** (0.000098) |
| Total size of view (million square feet) | 0.00005*** (0.000004) | 0.000009 (0.0000005) | |
| Dummy for view of river | -0.00572** (0.00288) | -0.0190 (0.0123) | |
| Dummy for whether house is in 100 year floodplain | -0.0273*** (0.00636) | -0.0155 (0.0517) | |
| House age | -0.000105 (0.000076) | -0.00294*** (0.00073) | -0.0654*** (0.00165) |
| Size of living area (square feet) | 0.597*** (0.00592) | 0.519*** (0.0228) | |
| Lot size (acres) | 0.00654*** (0.00118) | 0.00868 (0.0137) | |
| Number of plumbing fixtures | 0.196*** (0.00634) | 0.154*** (0.0198) | |
| Number of bedrooms | -0.0135*** (0.00207) | -0.00575 (0.00697) | |
| Dummy for basement | 0.0780*** (0.00414) | 0.112*** (0.0148) | |
| Multifamily dummy | -0.1430*** (0.0152) | -0.123 (0.892) | |
| Duplex-townhome dummy | -0.250*** (0.0175) | -0.0948*** (0.0319) | |
| Property style and grade dummy variables | Yes | Yes | — |
| Sale year fixed effects | No | No | Yes |
| Census tract × Sale year fixed effects | No | Yes | No |
| Constant | 8.025*** (0.0397) | 8.115*** (0.188) | 13.48*** (0.0334) |
| Observations | 246,029 | 246,029 | 130,702 |
| R-squared | 0.504 | 0.647 | 0.876 |
Note: Property style categories, which are defined in the tax assessment records, include, for example, split level, contemporary, bungalow, colonial, Cape Cod, and others; property grades, also included in the tax assessment records, range from excellent to poor. Standard errors arein parentheses.
↵** p < 0.05;
↵*** p < 0.01.