Property Values Impact : Vibrant Cities Lab : Resources for Urban Forestry, Trees, and Green Infrastructure

Being within 0 and 500 feet from a park in Pittsburgh increases home value an average of $23,900 compared with parcels located 2500 – 3000 feet away from a park. The true value of this green premium is between $15,920 and $31,880.Aiello, Daniel et al. Measuring the Economic Impact of Green Space in Pittsburgh. The Urban Redevelopment Authority of Pittsburgh. May 2010.
Appraised property values of homes that are adjacent to parks and open spaces are typically about 8 to 20% higher than those of comparable properties elsewhere.Wolf, K.L. 2004. Economics and Public Value of Urban Forests. Urban Agriculture Magazine. Special Issue on Urban and Periurban Forestry. 13: 31-33.

While development costs can be greater for lots where trees were conserved (5.5% in one studystudy), builders can recover extra costs through higher sales prices and faster sales for houses on wooded lots.Seila, A.F., and L.M. Anderson. 1982. Estimating Costs of Tree Preservation on Residential Lots. Journal of Arboriculture 8:182-185.

In Portland, Oregon, trees add 3.0% to the median sale price of a house, or 129 additional square feet. Applying the average effect of trees to all east-side Portland single-family homes yields a total value of $1.12 billion.Butry D.T., and Donovan G.H. 2010. Trees in the city: Valuing street trees in Portland, Oregon. Landscape and Urban Planning. 94: 2, 77-83.
In Tampa,Florida, research found that, contrary to developer’ assertion that trees reduced the value of homes sold for redevelopment, a one percent increase in tree canopy was associated with as much as a $9,000+ increase in sales price.Urban trees, house price, and redevelopment pressure in Tampa, Florida

“Well-landscaped yards with mature trees and bushes that provide privacy not only fetch higher prices — they sell more quickly than houses with little or no landscaping”