The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time
Posted: 30 Nov 2012
Date Written: 2012
Abstract
This study investigates price and time-on-market effects of estate sales of houses versus typical housing transactions using a sample of 180,921 sold properties. The hypothesis that estate sales sell at a discount and sell more quickly than typical houses is supported by the empirical results. The results indicate that estate sale properties sell at 3.6 percent price discount and sell about 3.4 percent (i.e. approximately four days) more quickly.
Keywords: estate sale, Hedonic model, Hazard model
JEL Classification: G29, J19, K34, R21, R31
Suggested Citation: Suggested Citation
Benefield, Justin and Rutherford, Ronald and Allen, Marcus Tillman, The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time (2012). Journal of Real Estate Finance and Economics, Vol. 45, No. 4, 2012, Available at SSRN: https://ssrn.com/abstract=2182121
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