A hedonic regression analysis of Humboldt County property data integrating the effect of the tsunami evacuation boundary on real estate price

Graduation Date

2015

Document Type

Thesis

Program

Other

Program

Thesis (M.B.A.)--Humboldt State University, Business Administration, 2015

Committee Chair Name

Harinder Singh

Committee Chair Affiliation

HSU Faculty or Staff

Keywords

Properties, Humboldt County, Humboldt State University -- Theses -- Business Administration, Multiple Listing Service (MLS), Residential real estate, Tsunami evacuation zone, Real estate

Abstract

Using Multiple Listing Service real estate transaction data (n = 4,059, n = 4,352 and n = 9,765) spanning nine years, from January 2005 through September 2014, multiple linear regression analyses were conducted to obtain housing characteristic coefficients statistically correlated with final selling price for residential real estate in Humboldt County, California. The real estate attribute coefficients were utilized as inputs to develop a hedonic pricing model for Humboldt County residential properties. By analyzing the effect that common housing attribute independent variables exert on the dependent variable of selling price, regionally-appropriate significant predictors of real estate value were calculated. In addition, the correlation between selling price and the location of a property within the Humboldt County Tsunami Evacuation Zone boundary delineated by the Redwood National and State Parks was analyzed. The location of a property within the Tsunami Evacuation Zone was associated with a reduced market price, with the average property within the tsunami zone selling for approximately $38,800 less than properties located outside of the tsunami zone. While a negative correlation was observed between the tsunami zone and the market price, the correlation was generally not determined to be statistically significant for the analyzed dataset.

https://scholarworks.calstate.edu/concern/theses/3484zk27h

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