Existing homes that are certified as “green” sold for 30 percent more than homes without such a designation, according to an analysis of the Portland, Oregon, metropolitan region released today by Earth Advantage Institute, a nonprofit green building resource. Newly constructed homes with a sustainability certification sold for 8 percent more than non-certified homes.
This result continues a four-year trend in which new homes with third-party certification for sustainable construction and energy performance have consistently sold for more than newly constructed homes that had not been certified. The term "certified home" includes homes that received an Earth Advantage New Homes, ENERGY STAR, or a LEED for Homes designation, or a combined Earth Advantage/ENERGY STAR certification.
Portland was the first regional multiple listing service in the country to provide sales information for homes with green certification, at the request of Earth Advantage Institute. RMLS began tracking information in 2007 and has found two important trends. First, certified homes’ market share among all newly constructed homes stayed consistent, with 18 percent of the new homes in the Portland market receiving a sustainability certification. Second, certified homes as a group saw notable price premiums in each year.
"This is important news for builders and home buyers alike," says Dakota Gale, sustainable finance program manager for Earth Advantage Institute. "We see a consistent trend that third-party certification results in an increased sales price, even during last year when home sales were down."
Building an Earth Advantage-certified home could net you more money when it's time to resell.