아파트 매매 소요기간에 영향을 미치는 요인에 관한 연구

Factors Affecting the Days on Market of Residential Real Estate in Seoul

The purpose of this study is to analyze the factors affecting the DOM (Days On Market) of apartment sale transactions in Seoul. From January 2014 to July 2016, the median DOM of apartments in Seoul was 22 days, and this gradually increased from 17 to 28 days in 2014-2016. Analysis of the factors affecting DOM using linear regression model yielded the following results. First, DOM is influenced more by seasonal factors such as sale price index and mortgage interest rate than the apartment attributes. This indicates that sale of an apartment is a complex phenomenon combined with the physical condition of the apartment as well as the expectation of price increase and financing problems. Second, the price negotiation between seller and buyer is considered to be an important factor because the ratio between the asking price and sale price is more influential than the asking price itself. Therefore, in order to reduce the social opportunity cost according to DOM, it is necessary to expand disclosure of real estate transaction details to accumulate enough information for sellers and buyers in relation to real prices.