Recovery of the value of natural amenities: From oil fields to nature preserve

The results reveal that it took 10-12 years for the oil well site to recover its positive association to nearby single-family homes as a natural amenity. There was an initial increase of positive association between the site and the sales price of single-family houses upon the conversion. In contrast, positive association between the nature preserve and nearby properties had constantly decreased since the conversion. Ten years after the conversion, the positive impact of the former oil well sites surpassed the positive impact of the neighboring never-developed nature preserve.