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Philadelphia neighborhoods named “greenest”

by Leighton, Kelly on

Two Philadelphia neighborhoods were applauded for nabbing two spots on the top ten list of greenest homes.

Chestnut Hill landed in third, followed by Spruce Hill in fourth. More than half of homes sold in the Chestnut Hill area, 59 percent, were advertised of having green features. Homes with green features sold for, on average, $40,000 more than the median average, at $480,00 compared to $440,000. According to the report, Philadelphia is “committed to reducing carbon emissions 80 percent by 2050 by focusing on the efficient use of clean energy, creating zero waste plans, expanding bike sharing and bike lanes, and using green stormwater infrastructure to manage stormwater.”

Spruce Hill homes were also more likely to be green at 59 percent. However, green homes actually sold for less than the median average, at $335,900, compared to $350,000.

To determine the top 10, data of real estate listings sold between Jan. 2017 and April 2018 that included one or more green features. The neighborhoods with the highest percentage of green homes landed in the top 10.

Realtor.com® recommends consumers start small when going green. Smart home devices that allow residents to control lights, radios and other electronics are a great way to reduce wasteful energy use. Solar panels are another way to go green, especially in Pennsylvania, where people can apply for rebates and tax incentives. Landscaping can also be even greener, by planting grass that is native to the area in which the homeowner resides. It reduces the amount of water needed by 50 to 70 percent, according to experts.

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Green Sustainability
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Dawn

I’m disappointed that there was nothing in this story about geothermal heating and cooling that uses no gas or oil. It seems green energy, to some, only means reducing electric use.

Kevin McPheeters

I am curious what the determination of ‘green’ was used in this report, and how that affects pricing. Until such things as solar panels and geothermal have some value from an appraisal standpoint they will probably be less adopted by homeowners. In areas of the country where this is more common it is accepted as an improvement and credited appropriately.
Perhaps we need some focus in this arena to encourage use of these alternative resources.

Kathy McQuilkin

So exciting to read this article and see some replies already! Serving on the Sustainability Advisory Group and Land Use, Property Rights and Environment Committee and seeing/hearing/discussing the many aspects of “green” from implementation, popularity, issues/problems, valuation variances, one realizes that we are still just at the beginning of the next big thing…. Several NAR committees/groups have some interesting presenters for May and November meetings–come sit in!

Kathy McQuilkin

Here is the just released Realtors and Sustainability Report link with great info for our members!

https://www.nar.realtor/research-and-statistics/research-reports/realtors-and-sustainability