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

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  • Justin Benefield
  • Ronald Rutherford
  • Marcus Allen

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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 a 3.6% price discount and sell about 3.4% (i.e. approximately 4 days) more quickly. Copyright Springer Science+Business Media, LLC 2012

Suggested Citation

  • Justin Benefield & Ronald Rutherford & Marcus Allen, 2012. "The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time," The Journal of Real Estate Finance and Economics, Springer, vol. 45(4), pages 965-981, November.
  • Handle: RePEc:kap:jrefec:v:45:y:2012:i:4:p:965-981
    DOI: 10.1007/s11146-011-9301-8
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. repec:kap:rqfnac:v:49:y:2017:i:1:d:10.1007_s11156-016-0583-z is not listed on IDEAS
    2. Randy Anderson & Raymond Brastow & Geoffrey Turnbull & Bennie Waller, 2014. "Seller Over-Pricing and Listing Contract Length: The Effects of Endogenous Listing Contracts on Housing Markets," The Journal of Real Estate Finance and Economics, Springer, vol. 49(3), pages 434-450, October.

    More about this item

    Keywords

    Estate sale; Intergenerational transfer; Hedonic model; Hazard model; G29; J19; K34; R21; R31;

    JEL classification:

    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • J19 - Labor and Demographic Economics - - Demographic Economics - - - Other
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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