The trade-off between private lots and public open space in subdivisions at the urban-rural fringe.

or parkland -0.012 (0.532)

House characteristics 13 House size (square ft, logged) 0.280 *** (23.042) 14 Age of house -0.002 *** (-5.896) 15 Dwelling grade -0.090 *** (-6.845) 16 Number of full baths 0.073 *** (10.159) 17 Number of half baths 0.039 *** (5.437) 18 Fireplace (dummy) 0.037 *** (5.922) 19 Townhouse (dummy) -0.113 ** (-2.435)

Accessibility variables 20 Distance to northern border

(meters, logged) -0.129 *** (-4.361) 21 Distance to Route 2/4

(meters, logged) -0.026 ** (-2.533) 22 Accessibility to Town Centers 0.000 (0.245)

Other subdivision variables 23 Subdivision size (acres, logged) 0.026 *** (2.751) 24 Year subdivision was recorded 0.002 *** (75.502) 25 Subdivision in Farm Community District 0.011 (0.473) 26 Subdivision in Residential zone -0.025 (1.241) 27 Subdivision in Town Center 0.037 (0.168) 28 Constant 4.792 (14.909) 29 Spatial autocorrelation parameter, [rho] 0.358 (41.269) [R.sup.2] 0.7795 Elasticity of Sales Price Marginal Effect with Respect to: Eval. at Variable

Means (t-Scat in

Parentheses) Own lot size (a) 0.055 *** (7.15) Subdivision space acreage 0.006 * (1.75) Adjacency to own subdivision open space 0.014 * (1.68) (a) Marginal effect for interior lot; for lot adjacent to open space, marginal effect is 0.070. Note: Coefficients on sale year and census block group dummy variables are available upon request. Triple asterisk signifies significance at 99% level; double asterisk at 95% single asterisk at 90%.