Special aspects of real estate market pricing in terms of lognormal distribution

The article introduces a new stochastic model of the real estate market pricing for appraisals based on a lognormal distribution. Statistical processing of Saint-Petersburg real estate market data results that the empirical distributions of the prices significantly fit to the lognormal law of distribution. For establishing statistical hypotheses accordance we use Kolmogorov-Smirnov test of fit. Basing on the Russian Federal standard № 2, we understand the market value as a numerical characteristic (mode) of a random value. We set the market value properties following from the lognormal price distribution.