My Home's Market Value: An Active Market Pricing Model
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Authors
Dorr, Timothy G.
Issue Date
2015-03-27
Type
Presentation
Language
en_US
Keywords
Real estate market , Active market pricing model , Hedonic pricing models
Alternative Title
Abstract
The current US residential real estate market is recovering although price growth remains stagnant. The non-linear pricing model examined represents a first investigation in the area of a single variable, polynomial correlation model. Using data from Easton, Connecticut demonstrated that when sellers set initial prices outside of a computed 95% confidence interval for similar properties no offers are forthcoming prior to asking price reductions and offered properties remain on the market longer.