IDEAS home Printed from https://ideas.repec.org/a/nye/nyervw/v39y2008i1p70-84.html
   My bibliography  Save this article

Predicting Days on Market: The Influence of Environmental and Home Attributes

Author

Listed:
  • Robert P. Culp

Abstract

This paper estimates the difference in the number of days a home will remain on the market based upon its environmental attributes. Using on-site inspections of 3088 home sites, the results, using two-stage least squares, show that time on market is reduced and price increased by a variety of green features such as trees, landscaping, open spaces and parks, while time on market is increased and/or price decreased by man-made obstructions such as power lines, roads near the home, train tracks, and apartments. This research finds home orientation to and not just the distance from roads has a significant impact on home price and time on market regardless of traffic volume. Apartments in view are found to significantly reduce home prices and increase time on market while cathedral ceilings increased home price. Homes in subdivisions were found to sell for higher prices and sell more quickly while the price of homes was not influenced by a hill obstructing the rear even though time on market was significantly increased.

Suggested Citation

  • Robert P. Culp, 2008. "Predicting Days on Market: The Influence of Environmental and Home Attributes," New York Economic Review, New York State Economics Association (NYSEA), vol. 39(1), pages 70-84.
    • Handle: RePEc:nye:nyervw:v:39:y:2008:i:1:p:70-84
    as

    Download full text from publisher

    File URL: http://www.nyecon.net/nysea/publications/nyer/2008/NYER_2008_p070.pdf
    Download Restriction: no
    File URL: http://www.nyecon.net/nysea/publications/nyer/2008/NYER_2008_p070.html
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nye:nyervw:v:39:y:2008:i:1:p:70-84. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eryk Wdowiak (email available below). General contact details of provider: https://edirc.repec.org/data/nyseaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.