The Effects on Residential Real Estate Prices from Proximity to Properties Contaminated with Radioactive Materials

  • November 21, 1991
  • • Written by: William N. Kinnard, Jr., CRE Mary Beth Geckler 

Fall/Winter 1991, Vol 16, No 2
Abstract: This research study included all bona fide arm’s length sales of single family residences located within one mile of three Superfund sites in three adjacent towns in New Jersey between July 1, 1980 and June 30, 1989. Sales properties were grouped into distance zones, and the effects on sales prices from proximity to the Superfund sites were measured after a December 1983, announcement that the sites exhibited high levels of radon gas and gamma radiation.