Geeky U.S. Census question: SF3, Table H88

[SGB]

Anyone have any insights or opinions as to whether this data has any statistical validity?

According the a Census Bureau official I spoke with, the value was derived by extrapolating from answers provided from occupied housing units in the neighborhood.

Observations, comments, rants, please.

 

[JNA]

Background

VALUE
The data on value (also referred to as ‘‘price asked’’ for vacant units) were obtained from answer to long-form questionnaire Item 51, which was asked on a sample basis at owner-occupied housing units and units that were being bought, or vacant for sale at the time of enumeration. Value is the respondent’s estimate of how much the property (house and lot, mobile home and lot, or condominium unit) would sell for if it were for sale.

Source: Census
http://factfinder.census.gov/servle...3_U_H088&-geo_id=04000US18&-format=&-_lang=en

Operative word is the respondent’s estimate .

 

[Cardinal]

I usually contact one of the local real estate agents, who will get the average selling price in the community from the state realty organization.