Selling a home in Portland, Oregon? Consider getting it certified green, as a recent release from the Earth Advantage Institute reveals that homes with a recognized third-party certification brought in as much as 30 percent more than their non-certified counterparts in 201o and 2011.
These results are based on a survey of new and existing home sales between May 1, 2010 and April 30, 2011 in Multnomah, Clackamas, Columbia, and Washington Counties in Oregon, and Clark County in Washington, as per local Regional Multiple Listing Service (RMLS) data. The Portland RMLS was the first U.S. regional multiple listing service to introduce sales info on green certified homes, at the behest of Earth Advantage Institute, back in 2007.
The data reveals that, over 2010 and 2011, existing homes with a green certification from Energy Star, LEED, or Earth Advantage in this six county Portland metro region fetched an average of 30 percent more, while new homes with the same certifications sold for an average 8 percent more than conventionally built new homes. (Presumably because buyers are more wary concerning the energy performance of an older home.)
The study reveals a consistent trend over the last four years in which a third-party green certification has boosted the prices paid for homes, even in the midst of slow home sales years such as 2009 and 2010.