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    Author(s): Stephanie A. Snyder; Michael A. Kilgore; Rachel Hudson; Jacob Donnay
    Date: 2008
    Source: Journal of Forest Economics. 14: 47-72.
    Publication Series: Scientific Journal (JRNL)
    Station: Northern Research Station
    PDF: Download Publication  (370.57 KB)


    A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road access and density, absentee ownership, future intentions, and financing arrangements had large, positive influences on price. Lack of a real-estate agent and agricultural land in the vicinity of the parcel had negative influences. A parcel's merchantable timber volume was not a significant predictor of price.

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    Snyder, Stephanie A.; Kilgore, Michael A.; Hudson, Rachel; Donnay, Jacob. 2008. Influence of purchaser perceptions and intentions on price for forest land parcels: a hedonic pricing approach. Journal of Forest Economics. 14: 47-72.


    forest land prices, forest markets, hedonic analysis, forest finance, price function

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