Abstract
We examined how environmental amenities, particularly views and open space access, impact residential home sales prices in Ramsey County, MN using a hedonic pricing model. Home sale prices increase with closer proximity to parks, trails, lakes, and streams. Proximity to lakes produced the greatest impact on home sale value of these distance variables, followed by parks, trails, and streams. Increasing view areal extents as well as increasing the amount of water and grassy land covers in views also resulted in increased sale prices. Increased view richness in terms of the number of different land cover types in a view reduced home sale prices. These results illustrate the importance of these environmental amenities to single-family homeowners and can be used to inform land use planning and policy decisions aimed at their preservation.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
