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.