Selling Price and Marketing Time in the Residential Real Estate Market

Han Bin Kang () and Mona J. Gardner
Additional contact information
Han Bin Kang: Department of Finance College of Business Illinois State University Normal, Illinois 61761, http://gilbreth.cob.ilstu.edu/depts/fil/
Mona J. Gardner: Department of Business Administration Illinois Wesleyan University Bloomington, Illinois 61702, http://titan.iwu.edu/~business/

Journal of Real Estate Research, 1989, vol. 4, issue 1, 21-35

Abstract: 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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1989
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Citations: View citations in EconPapers (46)

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