The Journal of Real Estate Finance and Economics

, Volume 45, Issue 4, pp 965–981 | Cite as

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

  • Justin D. Benefield
  • Ronald C. Rutherford
  • Marcus T. AllenEmail author


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.


Estate sale Intergenerational transfer Hedonic model Hazard model 

JEL Classification

G29 J19 K34 R21 R31 


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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  • Justin D. Benefield
    • 1
  • Ronald C. Rutherford
    • 2
  • Marcus T. Allen
    • 1
    Email author
  1. 1.Department of Economics and Finance, School of BusinessCollege of CharlestonCharlestonUSA
  2. 2.Finance Department, School of BusinessUniversity of South FloridaTampaUSA

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