Energy & Environmental News Jun/Jul 2018June 28th, 2020 by Nathan Hobbs
Green Housing: It Isn’t Always Expensive
Homes with eco-friendly features such as energy-efficient doors and windows do not always command a premium price tag in today’s housing market, according to a recent analysis from realtor.com.
Realtor.com looked at current listings in the top 200 U.S. metros to determine the market availability of “green” homes with any of seven eco-friendly features, such as dual-pane windows. It then evaluated how much these homes might cost a prospective homebuyer.
“Although Southern and Western states still lead the way in green technology adoption, eco-friendly features have grown in popularity across many regions of the United States,” said Javier Vivas, director of economic research for realtor.com. “Many buyers have come to expect standard features, and homes integrating specialty green features are becoming more mainstream. However, in today’s inventory-starved market, location still reigns supreme, and the price of land can easily override the allure of special eco-friendly features.”
Prospective homebuyers in the Fort Collins, Colo., metro area have the highest likelihood of finding a home with integrated “green” features, with 36 percent of its April 2018 listings noting at least one sustainable-living feature. Following closely behind are the Dallas-Fort Worth–Arlington, Texas, and San Jose/Sunnyvale/Santa Clara, Calif., metro areas at 35 percent of listings each.
Although homes with eco-friendly features are four percent more expensive than the median home price in the Dallas metro area, there is essentially no price difference between “green” homes and the median home price in Fort Collins. And homebuyers looking in Sunnyvale/San Jose/Santa Clara can find homes with sustainable features for five percent less than the local median home price.
Of the top 10 “green” metros, buyers in Tulsa, Okla., will pay the biggest premium—19 percent—if purchasing a home with existing eco-friendly features is a priority. Those in Salinas, Calif., have the biggest price advantage, as “green” listings are 14 per-cent below the median home price. However, while three California metros show that “green” homes are less expensive relative to the median home price in their respective areas, it’s important to remember that the median home price in each metro is significantly higher than those in other states.
Four Connecticut metros have the highest concentration of Energy Star-rated home listings currently on the market, but most homebuyers will pay between 21 to 26 percent more than the median home price per square foot.
Assa Abloy has announced the company’s latest Environmental Product Declaration (EPD) is for the Pemko Silicone Adhesive Smoke and Fire Gasket product line, which includes the Pemko S44, S77, S88, S442, S771, S771x6, S772, S773 and S776. … Cascadia Windows & Doors of Canada recently received Passive House Institute (PHI) certification for its Universal Series of energy-efficient windows. According to the company, this certification verifies that these windows achieve a level of thermal performance that less than one in 1,000 windows meet.
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