In that time my small team has closed on over 2,000 home sales.

My team has been selling homes in Portland for 20 years. Thankfully though, it can be said here in Portland, Oregon that solar panels do cause homes to sell faster and for (at least a little) more. Certainly, as that study would attest as well, the home value increases would be higher in other states outside of the Pacific Northwest. Not that much, but better than the 2008 study conducted in Seattle, which only saw a $3,000 home value increase. A 1.4% increase in home value for a median priced home in Portland of $550,000 means an increase in home value of $7,700. is a better comparative measuring stick in this case, as homes with solar panels had higher average sq. In the last three months, homes with solar panels in Portland sold 12% faster and for 1.4% more per sq. (Obviously the Portland real estate market has cooled off recently.) Solar Panels Help Homes in Portland, Oregon to Sell Faster and For (a little) More They sold for a median price of $550,000 and their median sq. of $293 and took an average of 49 days on market to go pending. In the last three months, all detached homes sold in Portland for an average price per sq.

of $297, took an average of 43 days on market to go pending, and sold for a median price of $720,000. In the last three months, homes with solar panels sold for an average price per sq. In all of 2022, the detached homes that sold in Portland, Oregon in 2022 sold for a median price of $595,000 and took and average of 27 days on market to sell. size of 2,295 and sold for a median price of $720,000. of $331 and took an average of 23 days on market to go pending. In all of 2022, homes with solar panels sold for an average price per sq. A total of 8,813 detached homes without solar panels sold in Portland in 2022, and 1505 in the last three months. It should be noted that some Realtors may have forgotten to check the solar panel checkbox, or left it unmarked because they were lazy, but it was checked for 95 sales in 2022 and 23 in the last three months, and we can use that data to compare and contrast with the rest of the sales for the city. In that MLS system, 23 homes sold with solar panels (95 in all of 2022). Using the available data from RMLS, we researched all detached home sales in the city of Portland property in the last three months as of the draft of this article (). The Impact of Solar Panels on Portland, Oregon Home Value in 2022 Since neither one conducted any research in Oregon, it becomes even more important for us to do a little research. The above two studies are often cited in the myriad of copy-cat articles you can find on this subject online. Also, dated back in 2008, this study is fairly dated now. The state of Oregon wasn’t included in this study. The study did include one PNW location, Seattle, WA, and concluded the savings there would only average out to $150 a year, increasing the home value by a measly $3,000 according to their own formula. This study is cited often across the web. So a solar system that saves a homeowner 1,000 a year, would increase the value of their home by $20,000. The National Renewable Energy Laboratory (NREL) also conducted a huge research study for the Appraisal Institute in 2008, which states that home value increases $20 for ever $1 reduction in utility bills. Notably though, none of the eight states researched were located in the Pacific Northwest. The study spanned millions of homes over eight states and found that homes with solar panels sold for $15,000 more on average than those that did not. One of the largest studies every done to study the impact solar panels has on home values was conducted by Berkeley Labs in 2015. (We conduct many other regular research reports on what causes a home to sell for more or less in our area.) The Impact of Solar Panels on Home Value Nationally So it is important to have some local research done, so a homeowner knows what the home value impact will be where they live, in this case Portland, Oregon, which is also likely to reflect the impact of solar panels on home values within its greater region – the Pacific Northwest.

Installing solar panels in Arizona might be a lot more desirable and have a greater impact on their home values, than adding solar panels to a home in the cloudy Pacific Northwest. But, as one might imagine, there is likely a strong regional effect. There have been a number of national studies on the impact installing solar panels has on home value. Do Solar Panels Increase the Value of a Home in Portland, Oregon? 2023 Report

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