The following is excerpted from a June 16, 2010 press release from Earth Advantage Institute, here in Portland, Oregon.
While fewer new homes were built in the past year in the Portland metropolitan area than in the previous year, the market share of third party certified homes increased, for the third year in a row. Twenty three percent (23%) of all newly constructed homes in the Portland metropolitan area sold between May 1, 2009 and April 30, 2010 received a third party certification.
The term “certified home” refers to homes that received an Earth Advantage, Energy Star, or LEED for Homes designation, or a combined Earth Advantage/Energy Star designation. Certification and sales information is reported by participating real estate brokers to RMLS. The Portland metropolitan area region includes Multnomah, Clackamas, Columbia, Washington and Yamhill Counties in Oregon and Clark County in Washington.
Homes with a third party certification sold for more than their non-certified counterparts, both in the new home and existing home markets. New homes in the six-county Portland region sold for 18% more, while existing homes with a certification sold for 23% more.
The Portland area RMLS first began collecting information about home certification in the spring of 2007. It is the first RMLS in the country to do so. Earth Advantage Institute is an independent, nonprofit resource group that certifies homes and communities based on conformance to ENERGY STAR®, Earth Advantage®, or LEED® for Homes standards.
Questions? Contact me at pat@patflynnrealtor.com or 503-860-2640.
