Download

Download Full Text (1.2 MB)

Description

This study analyses how certain neighborhood and interior characteristics affect residential sale prices, after accounting for standard property variables. This is important to examine in order to understand the function of the housing market, the sources of price differences, and whether residential values can be controlled by emphasizing specific desirable property features. The study is based on a dataset of approximately 330,000 observations from the Multiple Listing Service (MLS), as well as walkability data obtained from Walk Score. The data is analyzed in Stata, using three regression models with different combinations of explanatory variables. The results show that the model containing only interior features has the largest explanatory power, suggesting that these specific attributes might explain slightly more of the price variation than the observed neighborhood characteristics. However, the model including both neighborhood and interior characteristics provides the most comprehensive specification of the variation in residential sale prices, since it does not omit any potentially important variables. Overall, this suggests that, after controlling for standard variables, both neighborhood and interior attributes are important determinants of the variation in sale prices in the housing market.

Publisher Location

Las Vegas (Nev.)

Publication Date

Spring 4-17-2026

Publisher

University of Nevada, Las Vegas

Language

English

Keywords

Housing Prices; Hedonic Pricing Model; Regression Analysis; Interior Amenities; Neighborhood Characteristics

Disciplines

Economics | Economic Theory | Real Estate

File Format

PDF

File Size

1210 KB

Comments

Mentor: Djeto Assane

Rights

IN COPYRIGHT. For more information about this rights statement, please visit http://rightsstatements.org/vocab/InC/1.0/

The Effects of Neighborhood and Interior Characteristics on Residential Sale Prices


Share

COinS