Master of Science
Department or Program
Sanders, Dwight R.
AN ABSTRACT OF THE RESEARCH PAPER OF
KAITLIN GLASSFORD, for the Master of Science degree in AGRIBUSINESS ECONOMICS, presented on APRIL 20th, 2017 at Southern Illinois University Carbondale.
TITLE: DETERMINING RECREATIONAL LAND VALUES USING ORDINARY LEAST SQUARES REGRESSION
MAJOR PROFESSOR: Dr. Dwight R. Sanders
Recreational land values in Illinois have increased 6 percent since 2011. This study presents a regression analysis of recreational land prices in Illinois. The data used for this regression model ranges from 2011 through 2016 and contains information for all ten regions of Illinois. Using an OLS regression model allows for parcel specific characteristics and time adjustments to be examined. The model shows prices trended upwards through 2014. In 2015, prices decreased but in 2016 prices were back up. This suggests that prices for recreational land in Illinois peaked in 2014. The model also shows that the further south a region is in Illinois, the price of recreational land will decrease compared to the base region in northern Illinois.