This analysis focused on Durham, Orange, and Wake counties in the heart of the Research Triangle region of North Carolina. This region has experienced rapid development and extensive aquatic ecological restoration through the state’s Ecosystem Enhancement Program (EEP). Since restoration sites are not randomly distributed across space, we used a genetic algorithm to match parcels near restoration sites with comparable control parcels. Similar to propensity score analysis, this technique facilitates statistical comparison and isolates the effects of restoration sites on surrounding real estate values. Compared to parcels not proximate to any aquatic resources, we found that, 1) natural aquatic systems steadily and significantly increase parcel values up to 0.75 miles away, and 2) parcels less than 0.5 miles from EEP restoration sites have significantly lower sale prices, while 3) parcels more than 0.5 miles from EEP sites gain substantial amenity value. Our work highlights the need for higher public visibility of aquatic ecosystem restoration programs and increased public information about their value.
