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Augmenting Housing Sales Data to Improve Hedonic Estimates of Golf Courses

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  • Steven D. Shultz

    (University of Nebraska-Omaha Omaha, NE 68182)

  • Nicholas J. Schmitz

    (University of Nebraska-Omaha Omaha, NE 68182)

Abstract

Hedonic price modeling quantified the impact of golf course frontage on single-family housing prices at 20 different golf courses across the Midwestern City of Omaha, Nebraska. Geographic information system analyses tripled a sample of golf frontage sales which allowed courses to be valued by detailed access and ownership types, and for 15 individual courses. Private-non-equity courses had the greatest impact on adjacent housing prices (28%) followed by public courses (15%), municipal courses (9%) and private-equity courses (5%). However, a wide range of price impacts across individual courses was noted which indicates the benefits of conducting course specific analyses.

Suggested Citation

  • Steven D. Shultz & Nicholas J. Schmitz, 2009. "Augmenting Housing Sales Data to Improve Hedonic Estimates of Golf Courses," Journal of Real Estate Research, American Real Estate Society, vol. 31(1), pages 63-80.
    • Handle: RePEc:jre:issued:v:31:n:1:2009:p:63-80
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    References listed on IDEAS

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    Cited by:

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    5. Steve P. Fraser & Marcus T. Allen, 2016. "The Effect of Appurtenant Golf Memberships on Residential Real Estate Prices," International Real Estate Review, Global Social Science Institute, vol. 19(2), pages 249-264.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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