Greening the MLS
Produced by the first public-private partnership on real estate and high-performance homes, a new report published by the Institute for Market Transformation, Elevate Energy, and Metropolitan Regional Information
Systems (MRIS) examines the market supply and demand for high-performance homes in Washington, D.C. Funded by the District Department of the Environment.
Key Findings: Market Supply and Demand
- Homes that use “green” fields in MRIS to denote high-performance features such as energy-efficient windows have consistently performed better on key market indicators such as sales price than homes without high-performance features listed.
- High-performance homes exist in each of the District of Columbia’s 21 zip codes and accounted for 18 percent of total residential home sales in 2013 in the District. In addition, research identified six hot spots—neighborhoods with relatively large concentrations of third party–certified high-performance homes.
- Continued low for-sale property inventory means that homes are selling very quickly and this may be limiting Realtors’ interest and engagement with existing green fields in MRIS. In 2013, District inventory fluctuated between 25–40 percent of its peak level in October 2008.
- Between 2008 and 2013, only 14.8 percent of expected certified highperformance home units were listed on MRIS using third party–verified green fields. Nationally, about 3–5 percent of MLS listings use at least one green field, although it is not known what percentage of eligible high-performance homes are listed correctly.