Selling Price and Area Analysis for D.M. Pan National Real Estate Company 1
Report: Selling Price and Area Analysis forD.M. Pan National Real Estate Company
Laurie Wagner Storlie
Southern New Hampshire University
Selling Price Analysis for D.M. Pan National Real Estate Company 2
Introduction
The following report represents a random sampling of residential real estate listing prices
in relation to square footage in the New England region. A comparison of the national market is
also included for a broader overview.
Representative Data Sample
In this report, I have compiled median data for residential real estate in the New England
region. The New England region sample data included 100 residences from 42 counties across
six New England states (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and
Vermont). A properly weighted sample set of the 6 states was obtained by randomly selecting
one from each of the 42 counties, followed by a selection of the first 30 returned from a simple
random sampling of the resulting data. Once the random sample of 30 was determined, I was
able to calculate the mean, the median, and the standard deviation of the listings in relation to the
square foot variables. The resultant listing price mean indicated is $349,927. The median price
for the data set was $346,350. The standard deviation is $41,225. For the square foot totals, I
found that the mean square foot was 2,022, the median square foot was 1,974 and the standard
deviation of square feet was 316.
Data Analysis
The New England region sample data included 100 residences from 42 counties across
six New England states (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and
Vermont). A properly weighted sample set of the 6 states was obtained by randomly selecting
one from each of the 42 counties, followed by a random selection of the first 30 returned from a
simple random sampling of the resulting data. Once the random sample of 30 was determined I
Selling Price Analysis for D.M. Pan National Real Estate Company 3
was able to calculate the mean, the median, and the standard deviation of the listings in relation
to the square foot variables.
The national market data was very close in comparison to the random sampling date
shown for the New England region. The comparison showed that the listing price mean for the
New England region is slightly above the national market. A comparison of the price per square
foot found the New England region to be slightly below the national market with a much smaller
standard deviation.
Column1 sample national
mean price 349,927 342,365
median price 346,350 318,000
std dev price 41,225 125,914
mean sqft 2,022 2,111
median sqft 1,974 1,881
std dev sqft 316.1423894 921
Scatterplot
1,400 1,600 1,800 2,000 2,200 2,400 2,600 2,800
200,000
250,000
300,000
350,000
400,000
450,000
f(x) = 81.0501241998137 x + 186019.000497383
New England
Selling Price Analysis for D.M. Pan National Real Estate Company 4
The Pattern
The scatterplot above shows the relationship between the square footage of the random
sample set of homes in the New England region (the X-axis) and the listing price (the Y-axis). It
shows the relationship to be positive in that as the square footage of a home increases, so does its
listing price. The trendline indicates a linear shape that is positive with very few outliers present.
Based on what the data in the graph shows, the best listing price for a 1,800-square-foot
house would be $330,137.
