Abstract
In this study, we analyze the price and time-on-market effects related to the location of the master bedroom within single-family houses. As the "graying" of the U.S. population continues, it seems reasonable to investigate how those demographic changes might impact residential real estate markets. Toward that goal, we analyze sold property data obtained from the multiple listing services of two different markets: one with a relatively younger population and one with a relatively older population. The results indicate that houses with the master bedroom located upstairs exhibit a significant discount in both markets, with a larger discount observed in the market with the older population. The results also indicate that houses with upstairs master bedrooms exhibit reduced marketing time in the market with an older population, but that marketing time is unrelated to master bedroom location in the market with a younger population.