The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time

Posted: 30 Nov 2012

See all articles by Justin Benefield

Justin Benefield

College of Charleston

Ronald Rutherford

University of South Florida - College of Business - Department of Finance

Marcus T. Allen

Florida Atlantic University - Finance & Real Estate

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

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

Justin Benefield

College of Charleston ( email )

66 George Street
Charleston, SC 29424
United States

Ronald Rutherford

University of South Florida - College of Business - Department of Finance ( email )

Tampa, FL 33620
United States

Marcus Tillman Allen (Contact Author)

Florida Atlantic University - Finance & Real Estate ( email )

2912 College Ave
Davie, FL 33314
United States
954-236-1063 (Phone)
954-236-1298 (Fax)

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