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The Probability of Sale for Residential Real Estate

Author

Listed:
  • Ken Johnson
  • Justin Benefield
  • Jonathan Wiley

Abstract

This work investigates the determinants of the probability of sale during a given marketing span for residential properties. The inconsistent empirical relationship between property price and property selling time in numerous prior studies suggests an investigation into the determinants of a successful marketing effort is warranted. Results indicate that marketing time, seller motivation, certain property attributes, and location significantly affect the probability of successfully selling a property. These findings have implications for future works investigating, or relying on, the success or failure of residential property marketing efforts. Additionally, this work provides practical guidance to brokers and sellers of residential property.

Suggested Citation

  • Ken Johnson & Justin Benefield & Jonathan Wiley, 2007. "The Probability of Sale for Residential Real Estate," Journal of Housing Research, Taylor & Francis Journals, vol. 16(2), pages 131-142, January.
    • Handle: RePEc:taf:rjrhxx:v:16:y:2007:i:2:p:131-142
    DOI: 10.1080/10835547.2007.12091978
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