Energy Star homes sell faster and at a higher price per square foot compared to conventional homes, according to a study by the North Carolina Energy Efficiency Alliance (NCEEA). The study analyzed data for new homes built in 2010 in a five-county area around the Raleigh-Durham region of North Carolina. The study showed that the Energy Star label brings significant added value to homes beyond the well-known 15 to 30 percent savings on monthly utility bills, according to Home in Henderson.
The study compared Energy Star homes to similar code-built homes. Appraisal values were provided by a third-party N.C. licensed appraiser. Energy Star homes are a more profitable investment, selling for $2.99 more per square foot and up to 89 days faster than conventional homes. This provides important evidence for appraisers, home buyers and sellers because, until this study, market data to compare these transactions had not been available. Now appraisers have market confirming support that shows added value in homes with energy efficient features and certifications. This study was paid for with funds from American Recovery and Reinvestment Act through the N.C. Energy Office in the state Department of Commerce.
"This study shows that that being energy efficient doesn't just save for a homeowner, but can mean more money when a house is sold," said Jon Williams, N.C. Commerce Assistant Secretary for Energy. "During these times when a home sellers need every advantage, an energy-saving home can mean a higher price and a quicker sale.
For more information, see our Energy Star research center.
