Monday, September 17, 2007

'Green, Green' Redux

Back in March I wrote this about the then new ‘green’ search filter on the MLS. Dylan Rivera of The Oregonian had written an extensive – and breathless – piece about its rollout: “Environmentally friendly information for Realtors signals good news for some buyers and sellers and starts a trend.” was the subhead.

Since our MLS is one of the few in the country to have the filter, here, for the benefit of those around the country considering the add-on, are the six month numbers from one of the greenest cities in the US:

Total active listings, Portland Metro: 16,108.
Total listings labeled ‘green’: 451
Or 2.8% of the total, where it’s been for the last four months.

But what about buyers? Only new construction is available for a green cert, and builders may, in this market, be reluctant to add the cost if that cost can’t be recovered. If the incentive is meaningful certified properties should sell at a higher rate:

Total sales, last six months: 16,016.
Total green sales: 296, or 1.9% of the total.

Apparently not a trend quite yet…


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