Abstract
Numerous studies document the pricing effects from physical characteristics of real property. The current study examines a previously overlooked characteristic as it attempts to determine the impact of specialty ceilings on residential real estate prices. Employing market data from the multiple listing service of a medium-sized East Coast metropolitan statistical area, a hedonic pricing methodology is used to test for pricing effects related to the presence of specialty ceilings. Findings indicate the impact varies between newly constructed and existing homes, but that specialty ceilings can contribute up to 6.5% of the ultimate selling price.