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The Varied Impact Of Greenways On Residential Property Values In A Metropolitan, Micropolitan, And Rural Area: The Case Of The Catawba Regional Trail

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  • Munroe, Darla K.
  • Parker, Dawn Cassandra
  • Campbell, Harrison S., Jr.

Abstract

This paper presents hedonic analyses designed to estimate the real estate premium from improved access to a regional greenway system in three distinct counties. The hypothesis is tested that unobservable factors relating to the overall economic structure of each county influence how and to what extent access to open space is effectively capitalized into residential sales prices.

Suggested Citation

  • Munroe, Darla K. & Parker, Dawn Cassandra & Campbell, Harrison S., Jr., 2004. "The Varied Impact Of Greenways On Residential Property Values In A Metropolitan, Micropolitan, And Rural Area: The Case Of The Catawba Regional Trail," 2004 Annual meeting, August 1-4, Denver, CO 19915, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea04:19915
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    File URL: http://purl.umn.edu/19915
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    References listed on IDEAS

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    1. Smith, V. Kerry & Poulos, Christine & Kim, Hyun, 2002. "Treating open space as an urban amenity," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 107-129, February.
    2. Bucholtz, Shawn & Geoghegan, Jacqueline & Lynch, Lori, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April.
    3. Acharya, Gayatri & Bennett, Lynne Lewis, 2001. "Valuing Open Space and Land-Use Patterns in Urban Watersheds," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 221-237, March-May.
    4. Mary Riddel, 2001. "A Dynamic Approach to Estimating Hedonic Prices for Environmental Goods: An Application to Open Space Purchase," Land Economics, University of Wisconsin Press, vol. 77(4), pages 494-512.
    5. Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480.
    6. Cynthia J. Nickerson & Lori Lynch, 2001. "The Effect of Farmland Preservation Programs on Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 341-351.
    7. Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December.
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    Keywords

    Land Economics/Use;

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