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


  • 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)


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

    1. Gillen, Kevin & Thibodeau, Thomas & Wachter, Susan, 2001. "Anisotropic Autocorrelation in House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 5-30, July.
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    3. Peter V. Schaeffer & Cecily Ahern Millerick, 1991. "The Impact of Historic District Designation on Property Values: An Empirical Study," Economic Development Quarterly, , vol. 5(4), pages 301-312, November.
    4. 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.
    5. 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.
    6. 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.
    7. N. Edward Coulson, 1991. "Really Useful Tests of the Monocentric Model," Land Economics, University of Wisconsin Press, vol. 67(3), pages 299-307.
    8. Richard Voith, 1991. "Transportation, Sorting and House Values," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(2), pages 117-137.
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    JEL classification:

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


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