\begin{table}[t]\centering\caption{Leave-one-province-out spatial cross-validation}
\label{tab:lopo}\begin{threeparttable}\begin{tabular}{lcc}
\toprule
Held-out province & $N$ & Within-province $R^2$ \\
\midrule
ON & 48,781 & 0.549 \\
MB & 3,015 & 0.527 \\
SK & 3,400 & 0.475 \\
NS & 1,913 & 0.450 \\
NL & 1,016 & 0.378 \\
BC & 29,976 & 0.317 \\
QC & 30,556 & 0.303 \\
AB & 22,236 & -0.101 \\
\midrule
Mean & --- & 0.362 \\
\bottomrule\end{tabular}\begin{tablenotes}\footnotesize\item Notes: The structural hedonic model is estimated on all provinces except one and used to predict the held-out province; a province-specific intercept is allowed (the price \emph{level} is not identified out of sample), so the metric captures whether the \emph{structural} implicit prices transfer across space.\end{tablenotes}\end{threeparttable}\end{table}