Dive Brief:
- An Institute for Market Transformation (IMT) study — which analyzed 64 homes in the DC area with prices ranging from $265,000 to $1.415 million — found that high-performance homes marketed with green features in Washington, DC, sold for an average of 3.46% more than homes without them.
- Energy-efficient, single-family home sales rose from 2% in 2005 to 23% in 2013, according to the U.S. Green Building Council. The USGBC estimates that number will reach between 26% and 33% by 2016, according to Builder Magazine.
- U.S. households spend approximately $230 billion a year on energy, and energy-efficient home features such as solar panels, high-performance windows and green lighting lower utility bills. Those extras don't cost builders very much, either. IMT also found that homeowners of energy-efficient homes are 32% less likely to default on their mortgages.
Dive Insight:
IMT also reported the green cost premium for builders is 5.7% for new homes — where green projects are at least 30% of total projects — and 8% where green projects are less than 30% of total projects.
"This study further emphasizes the value of high-performance homes and showcases that home sellers, realtors and appraisers who are not factoring in energy efficiency when selling a home are leaving money on the table," said IMT executive director Cliff Majersik in a news release. "This is important not just in the District of Columbia, but across the United States."
The IMT study reaffirms the growing movement toward green building and energy-efficient features in homes — a trend builders can capitalize on to bump up selling prices.
