The Sidewalk Effect

Abstract:

When regressing home sales prices from two different neighborhoods, Five-Mile-Fork and Idlewild of Fredericksburg, VA, from May 2019 to September 2023, Five-Mile-Fork with few sidewalks, and Idlewild, with only sidewalks, suggests a strong relationship between adding a sidewalk to a home and increasing the demand(price). The regression results show a strong relationship between price and sidewalks when comparing two neighborhoods of only sidewalks against the demand(price) of homes in a neighborhood with only a few sidewalks in the same city as the case study.

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