•The time-varying effect of pricing on on-street parking behavior is investigated.•Field-collected panel data over four time periods is used.•Parking duration decreases as parking price increases.•The elasticity of parking turnover fluctuates during the study period. Parking pricing is considered a powerful tool for improving parking management and relieving traffic congestion in metropolitan areas. This study uses field-collected panel data over four time periods before and after the implementation of a new parking pricing policy in Nanning to investigate the time-varying effect of pricing on on-street parking characteristics, including parking duration and parking turnover. Results show that parking duration decreases as parking price increases, with the relationship presenting a growing elasticity. The elasticity of parking turnover fluctuates due perhaps to the influence of vehicle ownership. Kolmogorov–Smirnov (K-S) tests show that on-street parking characteristics differ significantly before and after the implementation of a new parking pricing structure. Strategies that can improve parking services are also investigated based on the empirical data and modeling results.