property-value movement in old north durham by katerina valtcheva
TRANSCRIPT
- Slide 1
- Property-Value Movement in Old North Durham By Katerina Valtcheva
- Slide 2
- Old North Durham - Overview Developed with the construction of tobacco warehouses and related commercials and industrial ventures Considered a bad area despite proximity to CBD Farmers market, North Durham Elementary School have had some effect on the area Hypothesis: Recent commercial upturn has had a positive impact on the area (Fullsteam Brewery, Motorco Music Hall, Geer Street Garden, CocoaCinnamon)
- Slide 3
- Old North Durham Motorco Area
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- Old North Durham - Data Forty house values collected annually for the first month of each year starting in Jan 2006 and ending in Jan 2013 (Zillow estimates) Houses located on: W Geer St., North St., Hargrove St., Glendale Ave, Northwood Cir, and N Mangum St. Built between 1910 and 2004 Average house size: 1375 ft 2 ( 523 ft 2 ) Average lot size: 6121 ft 2 (1640 ft 2 ) Average year built: 1937 (20 years)
- Slide 5
- Control Area: East Durham and Edgemont
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- Why this area as a control? Similarly industrial: historical roots in milling and textiles Similar houses, built around the same time period Approximately the same distance from CBD Also economically depressed area
- Slide 7
- East Durham and Edgemont
- Slide 8
- East Durham and Edgemont - Data Houses located on: Hart St., S Driver St., Roberson St., Angier Ave, Vale St., S Plum St., E Main St., Clay St., and Ashe St. Built between 1900 and 1992 Average home size: 1432 ft 2 (476 ft 2 ) Average lot size: 7047 ft 2 (1413 ft 2 ) Averages year built: 1929 ( 21 years)
- Slide 9
- Findings
- Slide 10
- Findings - Continued Difference between the slopes of the best-fitting line: 0.0113 in favor of the control area
- Slide 11
- Findings - Continued
- Slide 12
- Slide 13
- Old North Durham: with the addition of data points through 2013, the slope of the price curve falls from.0206 to.0108 East Durham/Edgemont: the slope of the line describing the overall trend of house prices went from positive.0319 (between 2006-2010) to negative.0275 (when data points are included through 2013)
- Slide 14
- Statistically Significant Differences Running a Students t test comparing mean home prices on a year-by-year basis: the difference in mean home values between the two neighborhoods was statistically significant from 2010 (p