Recently I have become interested in spatial effects on house prices (how where you are in town affects your house value). I haven't quite gotten to the spatial elements yet but I was able to run a quick analysis on house prices vs. square footage, bedrooms, bathrooms, and acres. Data was taken on 11-1-2009 and includes the vast majority of MLS listings for Bozeman at that time. I made a calculator based on the regression that can be found
here.
n=931
|
Price |
Sq. Foot |
Bedrooms |
Bathrooms |
Acres |
| Min. |
19,900 |
437 |
1 |
1 |
0 |
| Median |
$329,900 |
2,214 |
3 |
3 |
0 |
| Mean |
$530,991 |
2,676 |
3.373 |
2.84 |
3.086 |
| Max |
$10,950,000 |
16,428 |
9 |
9 |
185 |
|
|
**Update 11-6-2009: The predictive algorithm has been much improved. I also added an option for Belgrade homes on the calculator which can be found here.
