From San Francisco’s Assessor-Recorder’s office with respect to their new Green Labels for properties in San Francisco: “While no re-assessments will be triggered by earning an environmental distinction for your home, there is evidence that a Green Label enhances the re-sale value.”
The aforementioned evidence was in the form of an academic study, The Value of Green Labels in the California Housing Market, financed by the San Francisco Department of the Environment and StopWaste.Org. The key finding from the report:
This study, conducted by economists at the University of California, Berkeley and University of California, Los Angeles, finds that California homes labeled by Energy Star, LEED for Homes and GreenPoint Rated sell for 9 percent more (±4%) than comparable, non-labeled homes.
Because real estate prices depend on a variety of factors, the study controlled for key variables that influence home prices including location, size, vintage, and the presence of major amenities such as swimming pools, views and air conditioning.
Considering that the average sales price of a non-labeled home in California is $400,000, the price premium for a certified green home translates into some $34,800 more than the value of a comparable home nearby.
∙ Green Labels Migrate From Marketing Materials To Property Records [SocketSite]
∙ The Value of Green Labels in the California Housing Market [builditgreen.org]