Table 10.

Time-on-market and average discount to listing prices

	Ratio between average listing and sale prices
Time-on-market	0.020${}^{\ast \ast }$
	(0.010)
Housing stock	−0.000${}^{\ast \ast \ast }$
	(0.000)
Observations	1,880
Adjusted R${}^2$	0.307

The dependent variable is the ratio (multiplied by 100) between the average listing and sale prices in the local market i in the whole period. The time-on-market is measured in days. We control for the housing stock, the location inside the city, and we add city dummies. ${}^{\ast \ast \ast }$Significant at the 1% level. ${}^{\ast \ast }$Significant at the 5% level. ${}^{\ast }$Significant at the 10% level