Selling Price and Marketing Time in the Residential Real Estate Market
This paper examines the complex relationship between selling price, listing price, housing features, housing market conditions, and marketing time in a large sample of single-family homes. A key finding is that, for houses of equal quality, marketing time varies with the level of contract mortgage rates. Overpricing by sellers is not a successful strategy, however, even under market conditions in which houses in general sell relatively quickly. Finally, marketing time is significantly shorter for newer homes, particularly those in medium or high price ranges, but a home's size has no significant effect on the number of days it remains on the market.
Volume (Year): 4 (1989)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: |
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:
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.:
- Jacob Belkin & Donald J. Hempel & Dennis W. McLeavey, 1976. "An Empirical Study of Time on Market Using Multidimensional Segmentation of Housing Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 4(2), pages 57-75.
- Han Bin Kang & Alan K. Reichert, 1987. "An Evaluation of Alternative Estimation Techniques and Functional Forms in Developing Statistical Appraisal Models," Journal of Real Estate Research, American Real Estate Society, vol. 2(1), pages 1-29.
- Norman G. Miller, 1978. "Time on the Market and Selling Price," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 6(2), pages 164-174.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:4:n:1:1989:p:21-35. 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.