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Economic Relationships Between Parcel Characteristics and Price in the Market for Vermont Forestland

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An implicit price model is used to analyze the market for forestland in Vermont. Data were collected on physical and locational characteristics associated with a sample of recent sales (100-500 ac tracts). Least squares regression was used to identify marginal implicit prices of the characteristics. More than 46% of the variation in price per acre was explained by the set of characteristics and all significant characteristics influenced the price in the expected direction. Parcel size had little effect on price per acre; however, the presence of road frontage, the presence of open land, increases in population, proximity to major roads and ski areas, and lower taxes all contributed to higher prices. For. Sci. 37(4):1150-1162.
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Keywords: Hedonic; econometric model

Document Type: Journal Article

Affiliations: Northeastern Forest Experiment Station, Bington, VT 05405

Publication date: 1991-09-01

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2016 Impact Factor: 1.782 (Rank 17/64 in forestry)

    Average time from submission to first decision: 62.5 days*
    June 1, 2016 to Feb. 28, 2017

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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