Does your neighborhood rank in the top 10 list for green homes?
Image provided by Redfin.
Nationwide, green homes sold for $46,532 more than homes without green features in 2017, according to a study of sales by Redfin (www.redfin.com), an online real estate brokerage.
Redfin also looked at which U.S. neighborhoods have the highest number of eco-friendly homes, based on the percentage of homes that mentioned one or more "green" features in real estate listings. Cleveland, Ohio, and Orange County, California, dominated the list, both having three neighborhoods in the top 10.
% of Homes With Green Features
Malvern (Cleveland, OH)
Fenway (Cleveland, OH)
Chestnut Hill (Philadelphia, PA)
Spruce Hill (Philadelphia, PA)
Red Hook (Brooklyn, NY)
Baker Ranch (Orange County, CA)
Echo Ridge Village (Orange County, CA)
Georgetown (Seattle, WA)
Painted Trails (Orange County, CA)
Mercer (Cleveland, OH)
Malvern, Fenway and Mercer are all in Shaker Heights, a suburb of Cleveland that works hard to promote sustainable living. To encourage residents to reduce their carbon footprint the city offers a recycling program, home energy assessments, energy incentive programs, access to financing for solar panels and more. Redfin real estate agents say that work is evident.
"As our homes age, it's important to not only preserve the classic architectural charm of Shaker Heights but update them to meet today's modern lifestyle," said Redfin Cleveland agent Danielle Parent. "Homebuyers are drawn to the historic, classic-style Tudors that adorn the tree-lined streets of Shaker Heights, but many homes, because of their age, are in need of significant updates. The city has done a tremendous job of communicating the resources that are available to homeowners to help them implement eco-friendly features like solar panels and energy-efficient windows. The city was ahead of the curve and has been an ardent supporter of reducing its carbon footprint since 2002."
Home appraiser Sandra Adomatis told ProudGreenHome.com that some insurance companies are beginning to offer premium discounts for homes with features that can reduce the risk of loss from high winds and other risks. But there is still room for improvement in communicating the advantages of a high-performance home.
"Sometimes an appraiser may end up comparing a high-performance to a code built home and call them equal because of a lack of knowledge," she said. "The industry is lacking in the area of marketing for both new builder construction and resale marketing. We're still not marketing the benefits very well so buyers can understand the true value of their home."