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Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas

Author

Listed:
  • Julian Diaz III

    (Georgia State University Atlanta, Georgia 30302-4020)

  • J. Andrew Hansz

    (University of Texas, Arlington Arlington, Texas 76019)

  • Matthew L. Cypher

    (INVESCO Real Estate Dallas, Texas 75240)

  • Darren K. Hayunga

    (University of Texas, Arlington Arlington, Texas 76019)

Abstract

The traditional mechanisms of private covenants and public restrictions may not meet the needs of residential property owners who want to preserve a certain neighborhood style. Privately initiated and publicly enforced conservation district regulations can preserve desirable neighborhood characteristics and signal to buyers that neighborhood conformity will likely persist. We analyze residential transaction prices in Dallas, Texas and find premiums associated with residential properties within and buffering conservation district locations. These results are robust to the spatial autocorrelation common in residential transaction prices.

Suggested Citation

  • Julian Diaz III & J. Andrew Hansz & Matthew L. Cypher & Darren K. Hayunga, 2008. "Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas," Journal of Real Estate Research, American Real Estate Society, vol. 30(2), pages 225-248.
    • Handle: RePEc:jre:issued:v:30:n:2:2008:p:225-248
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    References listed on IDEAS

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    Cited by:

    1. Velma Zahirovic-Herbert & Swarn Chatterjee, 2012. "Historic Preservation and Residential Property Values: Evidence from Quantile Regression," Urban Studies, Urban Studies Journal Limited, vol. 49(2), pages 369-382, February.
    2. Nancy Holman & Gabriel M Ahlfeldt, 2015. "No Escape? The Coordination Problem in Heritage Preservation," Environment and Planning A, , vol. 47(1), pages 172-187, January.

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    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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