Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas

24 Pages Posted: 22 Jan 2008 Last revised: 1 Jul 2013

See all articles by Julian Diaz

Julian Diaz

Georgia State University

J. Andrew Hansz

E.V. Williams Center for Real Estate

Matthew L. Cypher

Georgetown University - Robert Emmett McDonough School of Business

Darren K. Hayunga

University of Georgia - Department of Insurance, Legal Studies, Real Estate

Abstract

The traditional mechanisms of private covenants and public restrictions may not meet the needs of residential property owners who want to preserve a certain neighborhood style. Privately initiated and publicly enforced conservation district regulations can preserve desirable neighborhood characteristics and signal to buyers that neighborhood conformity will likely persist. This study examined residential transaction prices in Dallas, Texas and finds premiums associated with residential properties within and buffering conservation district locations. These results are robust to the spatial autocorrelation common in residential transaction prices.

Keywords: conservation district, Dallas, transaction price

Suggested Citation

Diaz, Julian and Hansz, J. Andrew and Cypher, Matthew L. and Hayunga, Darren K., Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas. Journal of Real Estate Research (JRER), Vol. 30, No. 2, 2008, Available at SSRN: https://ssrn.com/abstract=1086196

Julian Diaz (Contact Author)

Georgia State University ( email )

P.O. Box 4020
Atlanta, GA 30303-4020
United States
404-651-2760 (Phone)
404-651-3396 (Fax)

J. Andrew Hansz

E.V. Williams Center for Real Estate ( email )

Norfolk, VA 23529-0222
United States
7576833505 (Phone)

Matthew L. Cypher

Georgetown University - Robert Emmett McDonough School of Business ( email )

3700 O Street, NW
Washington, DC 20057
United States

Darren K. Hayunga

University of Georgia - Department of Insurance, Legal Studies, Real Estate ( email )

Athens, GA 30602-6254
United States
706-542-1365 (Phone)

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