Selling Price and Area Analysis for D.M.

Pan National Real Estate Company 2

Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company

Terrence DICKERSON

Department of Mathematics, SNHU

MAT 240: Applied Statistics

Dr. Ram Gupta

May 16, 2026

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Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company

Introduction

This report is intended to give the salesperson at D.M. Pan Real Estate a random sample and

average of the price of a property and the size in square feet of residential properties in 30 counties

of the Mid-Atlantic region in the United States. Maryland counties sampled are 9, and the

Commonwealth of Virginia has 21. This report will also include the comparison of the sample with

the national average of different property listing prices as they move in accordance with the

number of square feet of a specific property.

Generate a Representative Sample of the Data

Representative Data Sample

Square Feet
Region State County (SQF) Listing Price (Y -
(X - Preditor Response
Variable) Variable)
Mid Atlantic
va Henrico 1,451 248,100
Mid Atlantic
va Henry 1,390 361,200
Mid Atlantic
va James’s city 1,296 271,300
Mid Atlantic
va Loudoun 1,450 259,000
Mid Atlantic
VA Lynchburg city 1,922 346,400
Mid Atlantic
VA Montgomery 1,122 277,500
Mid Atlantic Newport News
VA city 1,667 296,900
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Selling Price and Area Analysis for D.M. Pan National Real Estate Company 4

Mid Atlantic
VA Norfolk city 2,030 359,900
Mid Atlantic
VA Pittsylvania 1,656 347,600
Mid Atlantic
VA Portsmouth city 1,765 407,500
Mid Atlantic
VA Prince William 2,036 294,100
Mid Atlantic
VA Richmond city 1,915 339,800
Mid Atlantic
VA Roanoke 2,054 348,200
Mid Atlantic
VA Roanoke city 1,277 248,900

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Mid
Atlantic VA Rockingham 1,939 396,600
Mid
Atlantic VA Spotsylvania 1,708 340,500
Mid
Atlantic VA Stafford 2,007 306,800
Mid
Atlantic VA Suffolk city 1,594 291,400
Mid Virginia Beach
Atlantic VA city 1,927 322,500
Mid
Atlantic VA Washington 2,050 373,200
Mid
Atlantic VA York 1,878 320,900
Mid
Atlantic md Prince George’s 1,906 317,100
Mid
Atlantic md Queen Anne’s 1,683 239,100
Mid
Atlantic md st. Mary’s 1,948 292,400
Mid
Atlantic md Washington 1,356 222,100
Mid
Atlantic md Wicomico 1,973 339,100
Mid
Atlantic md Worcester 1,923 355,800
Mid
Atlantic md Allegany 1,716 329,100
Mid
Atlantic md Anne Arundel 1,405 258,800
Mid
Atlantic md Baltimore 1,686 354,100

Mean of Listing Price and Square Footage

$315,530 – 1,724 sqf

Median of Listing Price and Square Footage

$321,700 – 1,741 sqf

Standard Deviation of Listing Price and Square Footage

$47,696.83825 – 271.116508 sqf

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Analyze Your Sample

The mean listing price of the sample is approximately $27,000 below the national average;

however, the sample is relatively consistent within itself, and the majority of the counties in the

sample are located in the Commonwealth of Virginia, where square footage tends to have a

higher value than in other areas of the country, thus offering comparison and distinction against

the national average. I moved to Virginia for almost 10 years and had a taste of higher state taxes

and cost of living, so I looked at the list of the national regions and chose 30 counties in the Mid-

Atlantic area that included counties in Virginia and Maryland.

Generate Scatterplot

Listing Price

(Y - Response Variable)

450,000

400,000

350,000

300,000 f(x) = 104.656894863408 x + 135066.627623864

250,000

200,000

150,000

100,000

50,000

- 1,000

1,200 1,400 1,600 1,800 2,000 2,200

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Observe Patterns

My home would sell for approximately $325,000 based on the regression equation in the graph if

I had a 1,800 square foot home. The price would ensure that I'm competitive with the market, but

also consider where the house is located, and that the final bidder would like to outbid other

home buyers.

There are no outliers in the data as seen in the scatterplot above. But there would be outliers if

there were, and they would probably be homes for low-income or high-income homeowners,

respectively, in the sampled counties.

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