table 2. R egression Results Dwelling Characteristics, Amenities, and Sales Prices (California, 2007 - 2012)
(1) Green Rating (1 = yes) Dwelling Size (thousands of sq. ft.) Number of Bathrooms Number of Bedrooms Number of Garages Age# New Construction (1 = yes) 1 – 2 years (1 = yes) 2 – 3 years (1 = yes) 3 – 4 years (1 = yes) 4 – 5 years (1 = yes) 5 – 6 years (1 = yes) 6 – 10 years (1 = yes) 10 – 20 years (1 = yes) 20 – 30 years (1 = yes) 30 – 40 years (1 = yes) 40 – 50 years (1 = yes) Renovated (1 = yes) Distressed Sale (1 = yes) View (1 = yes) Swimming Pool (1 = yes) Cooling Systems (1 = yes) Time-ZIP-Fixed Effects Constant N R2 Adj R2
(2)
0.309*** [0.008] 0.095*** [0.005] 0.015*** [0.003] 0.059*** [0.005]
Y 11.743*** [0.203] 1,609,879 0.849 0.856
(3)
(4)
0.289*** [0.008] 0.070*** [0.005] 0.019*** [0.003] 0.062*** [0.005]
0.273*** [0.007] 0.066*** [0.005] 0.022*** [0.003] 0.058*** [0.005]
0.118*** [0.023] 0.273*** [0.007] 0.066*** [0.005] 0.022*** [0.003] 0.058*** [0.005]
0.248*** [0.017] 0.259*** [0.015] 0.239*** [0.015] 0.207*** [0.014] 0.195*** [0.014] 0.186*** [0.014] 0.191*** [0.014] 0.158*** [0.012] 0.072*** [0.011] 0.009 [0.010] 0.007 [0.008] 0.012** [0.005]
0.190*** [0.016] 0.209*** [0.015] 0.223*** [0.015] 0.219*** [0.014] 0.213*** [0.014] 0.203*** [0.014] 0.193*** [0.014] 0.149*** [0.012] 0.064*** [0.011] 0.001 [0.010] -0.002 [0.007] 0.011** [0.005] -0.161*** [0.003] 0.063*** [0.011] 0.086*** [0.005] 0.060*** [0.008] Y 11.795*** [0.161] 1,609,879 0.864 0.871
0.186*** [0.016] 0.206*** [0.015] 0.221*** [0.015] 0.219*** [0.014] 0.213*** [0.014] 0.203*** [0.014] 0.193*** [0.014] 0.149*** [0.012] 0.064*** [0.011] 0.001 [0.010] -0.002 [0.007] 0.011** [0.005] -0.161*** [0.003] 0.063*** [0.011] 0.086*** [0.005] 0.060*** [0.008] Y 11.681*** [0.163] 1,609,879 0.864 0.871
Y 11.651*** [0.177] 1,609,879 0.854 0.861
Notes: #
Omitted variable: vintage > 50 years
Regressions include: fixed effects by quarter year, 2007I—2012I, interacted with fixed effects by zip code. (Coefficients are not reported.) Standard errors, clustered at the zip code level, are in brackets. Significance at the 0.10, 0.05, and 0.01 levels are indicated by *, **, and ***, respectively.
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