Visual Display of Residential Property Information: Some Additional Evidence

Abstract

Several recent studies have analyzed the property price and marketing time impacts on residential property of photograph and/or virtual tour utilization. However, another piece of visual information is a satellite image of the property. Recognizing that satellite images often convey important information not obtainable from normal photographs or virtual tours, this study estimates the size of any price or marketing time impact related to that additional information. Results suggest that satellite images do not influence price, but they do have a statistically significant, if economically small, positive marketing time impact.