On the Relationship between Commercial Property Price and Its Selling Time

Ken Johnson, Jonathan Wiley and Zhonghua Florida

Journal of Real Estate Portfolio Management, 2007, vol. 13, issue 4, 379-388

Abstract: Executive Summary. This study documents the relationship between commercial property price and its marketing time. Findings indicate that extended marketing times induce lower transaction prices and that higher priced properties sell in relatively shorter marketing spans. These results are suggestive of a “shopworn” pricing effect and the existence of liquidity premiums in varying pricing segments of the market. Additionally, these results provide guidance to portfolio managers in the acquisition and disposition of commercial properties.

Date: 2007
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DOI: 10.1080/10835547.2007.12089788

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