A real estate broker crunches Atlanta-area sales statistics to highlight their appeal for homebuyers
One way to measure the appeal of a home’s certified green construction is to put it on the market and see if, for all its proven green qualities, it sells at or near the asking price in timely fashion.
According to a report prepared by Carson Matthews, a certified EcoBroker who works in the Atlanta area, statistics provided by the First Multiple Listing Service (which focuses on listings inside Atlanta’s Interstate 285 “loop”) show green homes have been selling more quickly and closer to their listing price than homes that have no green certification.
Matthews’ points out that FMLS established a listing category for homes with green certification – including Energy Star-rated properties, those built through the EarthCraft House partnership, and those with a LEED for Homes rating – back in August 2008. His analysis focuses sales of properties priced above $300,000.
The gist of the analysis is that, from September through February 10, the average sales price of certified green homes was 95.4% of their asking price, while sales of non-certified homes averaged 90% of asking. From January through April 16, certified properties sold for 93% of asking, on average, while non-certified homes sold for 88.6% of asking.
It’s important to note that the average sales price of non-certified homes was relatively high. During the September-February period, for example, the average sales price of these properties was $640,145, 34% higher than the average for certified homes, which was $477,626. So, excluding the major factor of location, the green-certified homes had a pricing advantage. Also, there were fewer of them: They accounted for about 5% (22 out of 436) of sales during the September-February period, and about 8% (21 out of 240) from January through April 16.
Still, it’s an interesting peek at the potential selling power of green. As multiple listing services in Atlanta and other markets continue to track sales of certified green properties, it’ll be worth watching how the market evolves.