Submission Title

The Amenity Value of Living Close to the Beach: Results from a Hedonic Pricing Model

Location

Jereld R. Nicholson Library: Grand Avenue

Subject Area

Economics

Description

In this study, a hedonic pricing model is applied to the housing market for the Beach Cities area in Southern California. Twenty-five houses from each city make up the data set. Each house was randomly selected on Zillow from the time period of November 2014 to November 2015. Distance was found to have a negative impact on price of $415,263 per house for each mile from the beach.

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The Amenity Value of Living Close to the Beach: Results from a Hedonic Pricing Model

Jereld R. Nicholson Library: Grand Avenue

In this study, a hedonic pricing model is applied to the housing market for the Beach Cities area in Southern California. Twenty-five houses from each city make up the data set. Each house was randomly selected on Zillow from the time period of November 2014 to November 2015. Distance was found to have a negative impact on price of $415,263 per house for each mile from the beach.