EFFECTS OF PHYSICAL CHARACTERISTICS ON INITIAL LISTING PRICE, TIME ON MARKET, AND ULTIMATE SELLING PRICE

Abstract

A house is comprised of many different attributes that may affect how well it performs when listed for sale on the market. This study examines how certain physical characteristics of a house affect its listing price, time on market, and ultimate selling price. The physical characteristics in this study include age of the house, size of the house, number of bedrooms, number of bathrooms, presence of a fireplace, number of stories, and whether the home is waterfront. Data were collected from an Eastern North Carolina county and regression analysis was performed. The findings indicate age, size, number of baths, and whether a fireplace is present in a house all have a significant impact on the list price and sold price. The physical attributes of a house have no clear effect on the total number of days the house is for sale on the market.