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

Justin Benefield, Ronald Rutherford and Marcus Allen ()

The Journal of Real Estate Finance and Economics, 2012, vol. 45, issue 4, 965-981

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

Keywords: Estate sale; Intergenerational transfer; Hedonic model; Hazard model; G29; J19; K34; R21; R31 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s11146-011-9301-8

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