According to new research compiled by Property Wire, eco-friendly properties are starting to outsell the rest of the real estate market in some parts of the US.
The research, hailing from from Seattle based Green Works Realty, says that eco-friendly properties are not only outselling but selling faster and for higher prices per square foot.
For example...
In my hometown, notably greener than many, Portland, Oregon, green certified homes sold for 12% more, an average of $408,915, than non certified homes between May 2008 and April 2009, according to research from the Earth Advantage Institute.
Ben Kaufman, owner of GreenWorks Realty notes "The reasons why buyers favor e-certified homes are not rocket science, but people have different motivations... as well as wanting lower utility bills, some buyers see it as a commitment to reducing climate change with the higher energy efficiency that green homes offer. Others buy because the homes are built with nontoxic materials, which makes the indoor air quality cleaner than their traditional counterparts."
*Source
The research, hailing from from Seattle based Green Works Realty, says that eco-friendly properties are not only outselling but selling faster and for higher prices per square foot.
For example...
Quote:
* Environmentally certified new homes in Seattle in the same period sold for 9.2% more per square foot in 24% less time and made up 34% of the market.
* Third party verified new homes with an environmental certification in the City of Seattle sold for 22% more per square foot in 12% less time and made up 6% of the market. The homes that underwent the strictest certification, being tested by third parties, and thus likely to be the greenest, did even better. They commanded prices 25% higher than regular homes.
* Environmentally certified new homes in King County sold between November 2009 and February 2010 sold for $71 more per square foot in 7% less time and made up 26% of the market.
* Environmentally certified new homes in Seattle in the same period sold for 9.2% more per square foot in 24% less time and made up 34% of the market.
* Third party verified new homes with an environmental certification in the City of Seattle sold for 22% more per square foot in 12% less time and made up 6% of the market. The homes that underwent the strictest certification, being tested by third parties, and thus likely to be the greenest, did even better. They commanded prices 25% higher than regular homes.
In my hometown, notably greener than many, Portland, Oregon, green certified homes sold for 12% more, an average of $408,915, than non certified homes between May 2008 and April 2009, according to research from the Earth Advantage Institute.
Ben Kaufman, owner of GreenWorks Realty notes "The reasons why buyers favor e-certified homes are not rocket science, but people have different motivations... as well as wanting lower utility bills, some buyers see it as a commitment to reducing climate change with the higher energy efficiency that green homes offer. Others buy because the homes are built with nontoxic materials, which makes the indoor air quality cleaner than their traditional counterparts."
*Source
