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The Pricing of Lake Lots

  • Peter F. Colwell
  • Carolyn A. Dehring
Original Article

Abstract

This article reveals aspects of lakefront property pricing especially with respect to lot frontage and depth. A clearer understanding of how these lot dimensions affect price should be of interest to those engaged in lake development, land use control, valuation, and marketing. A data set with eighty observations of vacant Lake Michigan residential properties sales is used. The unique geography of northwest Michigan provides an opportunity to tackle empirical issues associated with zoning when zoning is correlated with lot attributes, such as lot topography.

Key Words

lakefront property values frontage and depth recreational land and values hedonic pricing 

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Copyright information

© Springer Science + Business Media, Inc. 2005

Authors and Affiliations

  1. 1.University of Illinois at Urbana ChampaignUrbanaUSA
  2. 2.University of GeorgiaAthensUSA

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