Pueblo, Colorado Real Estate Sales Forecasting - Northside  William Prater  BUSAD 360  Market – Pueblo Northside Zip Codes 81008 & 81003 (20 Observations)

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Presentation transcript:

Pueblo, Colorado Real Estate Sales Forecasting - Northside  William Prater  BUSAD 360  Market – Pueblo Northside Zip Codes & (20 Observations) South of HWY 50, West of Elizabeth St, North of 21 st St, & East of Train Tracks  Data Source - Pueblo, Colorado Recently Sold Homes. (2014, December 4). Retrieved from RealtyTrac:

Northside Sample Data Set

Regression Analysis with Variables

Final Model – Square Foot Variable Although all of the models are good for predicting the price of real estate sales, the strongest model is the square foot variable. The overall level for F is the highest at with the best significance level of Additionally, the t Stat is the furthest from 0 at and the P-value is the lowest at The R Square is and is the lowest of the models, but still exemplifies a quality fit for predicting the price of real estate, which means there is a 56% accuracy that the price of real estate is based on the total square feet of the home.

Significance Testing & Residual Analysis Pearson Correlation Coefficient : r = Regression Equation : y^ = x + 17,768 Coefficient of Determination : r2 = T test of Slope : F test of F : Ssxy : 141,740,447 SSxx : 2,221, b1: b0: 17,768 SSE : 7,062,544, Se : 19, Ssyy : 16,107,723,562

Model Application Sales Forecast for 800, 1,000, 1,200, and 1,400 Total Square Feet with a 95% Confidence Interval 800 Total Square Feet : $68, $6,601 $62,215 to $75,417 1,000 Total Square Feet : $81, $1,943 $79,635 to $83,521 1,200 Total Square Feet : $94, $571 $93,769 to $94,911 1,400 Total Square Feet : $107, $912 $102,190 to $108,014