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Pricing in an Illiquid Real Estate Market

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  • Paul Anglin
  • Robin Wiebe

Abstract

Using a repeat sales data set, this paper examines whether a single small seller can influence the selling price of their house. We find that this influence exists and, since the estimated magnitude of the effect is larger than expected, we verify the estimate using several supplementary tests.

Suggested Citation

  • Paul Anglin & Robin Wiebe, 2013. "Pricing in an Illiquid Real Estate Market," Journal of Real Estate Research, Taylor & Francis Journals, vol. 35(1), pages 83-102, January.
    • Handle: RePEc:taf:rjerxx:v:35:y:2013:i:1:p:83-102
    DOI: 10.1080/10835547.2013.12091351
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    Cited by:

    1. Steven Caudill & Claudio Detotto & Dominique Prunetti, 2020. "Bargaining power in apartment sales in Corsica: A latent class approach," Urban Studies, Urban Studies Journal Limited, vol. 57(13), pages 2754-2772, October.
    2. Peyman Khezr & Flavio M. Menezes, 2016. "Dynamic and Static Asking Prices in the Sydney Housing Market," The Economic Record, The Economic Society of Australia, vol. 92(297), pages 209-221, June.
    3. Leung, Charles Ka Yui, 2023. "Real Estate Market," MPRA Paper 119430, University Library of Munich, Germany.
    4. Chang, Chuang-Chang & Chao, Ching-Hsiang & Yeh, Jin-Huei, 2016. "The role of buy-side anchoring bias: Evidence from the real estate market," Pacific-Basin Finance Journal, Elsevier, vol. 38(C), pages 34-58.
    5. Erling Røed Larsen, 2021. "Intra‐Week Price Patterns in the Housing Market," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(1), pages 327-352, January.
    6. Lawrence Kryzanowski & Yanting Wu, 2023. "Signaling effects of recurrent list‐price reductions on the likelihood of house sales," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 99-130, February.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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