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Richmond Housing

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Submitted By kristiem7
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Richmond Housing Prices The current housing prices in Richmond, Virginia are a result of many different factors. I was asked to analyze the current housing market in the Great Richmond population including the four locations; Richmond, Goochland, Chesterfield, and Henrio. The different variables that were a factor in the Richmond housing market were the location within the cities, the price of the home, the amount of bedrooms and bathrooms the house has, the square footage, and the real estate company used to sell the home. Most of these variables were quantitative variables, including, the price, the amount of bedrooms and bathrooms, and the square footage. There were also two categorical variables, the location and the real estate company used. Some of the possible population parameters of interest would be the Greater Richmond Area or People in the Great Richmond Area that have single-dwelling homes for sale. Some of the possible sample statistics that can be calculated from this data to analyze the current housing prices in Richmond would be; Which realtor company sells the most expensive homes?, How does the square footage affect the price of the home?, Which county has the most/least expensive homes?. The sampling frame for this sample is the Greater Richmond Area who qualify for the following; Have single dwelling properties for sale, whose properties are listed on the website, realestate.aol.com, and only properties that are located in Richmond, Goochland, Henrico, or Chesterfield. The type of sampling design used would be the Stratified Random Sampling and the appropriate strata for this type of sampling design would be the four locations in the Greater Richmond area; Richmond, Goochland, Henrico, and Chesterfield. There is no source of bias in this sample since the information they want to know is based on homes for sale in Richmond and they just

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