What do we really know about the real-estate in Orange County?
Maria Daniela Vetencourt
March 5th, 2014
In this project we are going to analyze Orange County in depth. This analysis would be of help to anybody who would like to invest or live in a property in Orange County, Florida. We will explain the different important variables that have to be taken into consideration when buying a property and also answer various common questions in a statistical manner. The variables we will analyze are:
UC (Use code): 1-single house homes and 4: condos.
Sales Price: The price at which these properties were sold.
Sales Year: The year these properties were sold.
Sales Month: The month of the year the property was sold ranging from 1 (January 2011) to 25 (January 2013)
Effective Year Built: The year the property was built.
Total Living Area: The size of the property.
Taking into account these variables we were able to answer the questions mentioned above. Among these questions we have:
What is the trend of the sale price depending on the year it was sold?
In what month were properties the most expensive?
How does the year the property was built affect the price?
What type of housing was most bought between 2011-2012?
How does the size of the property affect the price?
What is the trend in the size of the properties depending on the year it was built?
Descriptive Statistics:UC (Nominal)
In the graph above, we can determine the distribution of the UC data. The red area represents the condos while the blue area represents the single family residences. The blue area is greater than the red area which shows that there are more single family residences than condos. There is a total of 14069 single family residences with 89.74% frequency. In contrast, there is a count of 1609 condo type properties with a frequency that is 10.26% of the total. This...