The impact of relative size on home values

Relative size refers to the size of a property relative to the average-sized property in its neighborhood. Previous research suggests that, in addition to absolute size, relative size may also affect property values. This article expands on previous research by developing new measures of the effect...

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Bibliographic Details
Published in:The Appraisal journal 2013-01, Vol.81 (1), p.24
Main Authors: Asabere, Paul K, Huffman, Forrest E
Format: Article
Language:English
Subjects:
Analysis
Discounts
Dwellings
Houses
Housing
Hypotheses
Investigations
Methods
Motivation
Neighborhoods
Prices
Pricing
Property taxes
Property values
Purchasing
Real estate appraisal
Regression analysis
Residential real estate
Studies
Taxation
Valuation
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Summary:Relative size refers to the size of a property relative to the average-sized property in its neighborhood. Previous research suggests that, in addition to absolute size, relative size may also affect property values. This article expands on previous research by developing new measures of the effect of relative house size and the pricing effects of relative size. The research uses standard regression analysis and a database of 5,996 home sales in 412 subdivisions in the San Antonio, Texas, area. The analysis finds within the same neighborhood larger houses sell at discounts while smaller houses carry premiums relative to the average house size. [PUBLICATION ABSTRACT]
ISSN:0003-7087