Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas
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.
Volume (Year): 30 (2008)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kevin Gillen & Thomas Thibodeau & Susan Wachter, .
"Anistropic Autocorrelation in House Prices,"
Zell/Lurie Center Working Papers
383, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
- Coulson, E., 1990.
"Really Useful Tests Of The Monocentric Model,"
1-90-5, Pennsylvania State - Department of Economics.
- Richard Voith, 1991. "Transportation, Sorting and House Values," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(2), pages 117-137.
- Robin M. Leichenko & N. Edward Coulson & David Listokin, 2001. "Historic Preservation and Residential Property Values: An Analysis of Texas Cities," Urban Studies, Urban Studies Journal Limited, vol. 38(11), pages 1973-1987, October.
- Coulson, N Edward & Leichenko, Robin M, 2001. "The Internal and External Impact of Historical Designation on Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 113-124, July.
- Peter V. Schaeffer & Cecily Ahern Millerick, 1991. "The Impact of Historic District Designation on Property Values: An Empirical Study," Economic Development Quarterly, W.E. Upjohn Institute for Employment Research, vol. 5(4), pages 301-312, November.
- McMillen, Daniel P., 2003. "The return of centralization to Chicago: using repeat sales to identify changes in house price distance gradients," Regional Science and Urban Economics, Elsevier, vol. 33(3), pages 287-304, May.
- Asabere, Paul K & Huffman, Forrest E & Mehdian, Seyed, 1994. "The Adverse Impacts of Local Historic Designation: The Case of Small Apartment Buildings in Philadelphia," The Journal of Real Estate Finance and Economics, Springer, vol. 8(3), pages 225-234, May.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:30:n:2:2008:p:225-248. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If references are entirely missing, you can add them using this form.