A Geostatistical Analysis of Housing Prices in Fargo

Abstract

This study investigated housing prices by applying geostatistical regression techniques to identify the significant factors affecting residential housing sales prices in Fargo, North Dakota. The study used a subset of residential housing price sales data for the year 2015. The study found moderate spatial dependency among properties. Some of the statistically significant variables were found to be age, total area of property, number of parking spots, air conditioner and the status of basement finish. Finally, predictions on new locations were made based on ordinary linear regression model and regression kriging technique used for the geostatistical models.