Reno, Nevada real estate appreciation predicted to be 9.5% over the next 12 months

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[Ed. Note – Thank you to the reader of this blog who passed along the following report to me.]

In its most recent VeroFORECAST, Veros Real Estate Solutions places both Reno-Sparks, Nev. and Carson City, Nev. in the top 10 highest-appreciating markets in the U.S.

[Click on the graphic below to access the report.]

VeroFORECAST: Strongest and Weakest Real Estate Market

The VeroFORECAST predicts that over the next 12 months residential home values will appreciate at +9.5 percent for both the Reno-Sparks and Carson City markets. [Btw, this prediction is more than double the prediction for the national average appreciation over the same time period.] If correct, what will prices look like a year from now?

The most recent median sale price for the Reno-Sparks’ housing market was $385,000 (as reported here). An increase of 9.5 percent would make next year’s median price $421,575.

Similarly, a 9.5 percent increase to Carson City’s current median home price of $346,000 would bring next year’s median home price to $378,870.

So, what do you think? Probable? Too high of a prediction? Not high enough? I would love to hear your thoughts in the comments below.

About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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5 Responses to Reno, Nevada real estate appreciation predicted to be 9.5% over the next 12 months

  1. Kristen says:

    Wow, Guy. Great information! Thanks for sharing. Makes me want to buy sooner rather than later. Do you have any apps for searching properties?

  2. Guy Johnson says:

    Thank you, Kristen. Yes, I have a free mobile app available that allows you to search for homes anywhere in the U.S. You may download it at this link. Or simply text KW1NXTCOL to 87778.

    And thank you for reading the Reno Realty Blog.

  3. Howard Hirsch says:

    9.5% might be a little high. I’m guessing maybe 5% given the implosion of the Elon Musk empire–but then again something might take its place. Also high income residents fleeing CA especially under $10K limit on SALT deductibility might be a floor.

    Over the long haul, northern Nevada prices are really not all that out of line. We bought our house in Dayton, 4/2.5, 2100 sq ft., in 2001 for $165K. We left Nevada four years ago and have been renting it out since. At the market bottom c. 2005-06 a 3/2 a couple of doors down went for $95K at foreclosure. Today the Zestimate for our house is $285K. Sound good, but over the 17 years we’ve had it that’s only a 3.3% average annual appreciation rate–masking both the craziness and the resulting crash. Again, future price levels will depend on the level of population inflow as well as a sound enough economy to provide enough jobs and income to pay them.

  4. Guy Johnson says:

    Thank you for your comment, Howard. That is an interesting history on your Dayton house. Thank you for sharing.

    The new couple years will be very interesting to watch for Reno-Sparks.

    – Guy

  5. Twister says:

    The beat goes on as it has since 2012 a strong market no end in sight. 2011/2012 was the greatest buying opportunity in Reno housing market you’re ever going to see. Out of the depression and despair came the goose that layed the golden egg.

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