Verdi Real Estate Information
The city of Verdi, located 22 miles north of Truckee off Highway 80, has a rich history. Additionally, it is a thriving community that straddles both California and Nevada. The California side is an outpost for Sierra County, while the Nevada side is part of Washoe County, Nevada.
There are many homes and new developments on the Nevada side of Verdi. There are prospects for future development in Verdi, California. Located only 20 minutes from Reno and 79 miles from the Sierra County seat of Downieville, CA, people on the California side of Verdi travel to Reno for their services.
As Truckee and Glenshire properties escalate in value, it may be that Verdi, CA will see a similar growth in real estate development.
During the Gold and Silver Rush in California and Nevada, prospectors migrated to a town called Crystal. In 1864, the Crystal Peak Company was prospecting for gold in the rich quartz deposits that eventually came to be called Crystal Peak.
Unfortunately, the quartz deposits didn’t contain gold, and so, they opened a sawmill instead. The area thrived as a lumber center, providing timber to mines in Virginia City and surrounding areas. Crystal Peak was located in Nevada and a post office opened in July of 1864.
When the Central Pacific Railroad was being built over the Sierra Nevada Mountain range, the sawmill delivered much of the lumber for the Truckee River portion. With a population of 1500 people, the area was a thriving business district.
The Central Pacific Railroad was built closer to the Truckee River and completely bypassed Crystal Peak. Verdi became the new rail stop, and the entire population of Crystal Peak, the buildings and even the post office were all relocated to Verdi. The famously disputed boundary survey of 1872 placed the abandoned businesses and what survived of Crystal Peak in California.
Charles Crocker, the founder of the Central Pacific Railroad pulled a slip of paper out of a hat and named the new rail town Verdi. Guiseppe Verdi was an Italian Opera composer at the time, and his name was one of many names in the hat.
The town was also famous for a train robbery which occurred in 1870. Robbers blocked the track of an eastbound train traveling from San Francisco to Omaha after a stop in Truckee. The train had $60,000 worth of gold and silver, and the robbers escaped with $41,000. The bandits were led by a Sunday school superintendent, but all five men were later captured.
Verdi later became a hub for the ice industry. The many frozen lakes of the Sierra Nevada region provided ice blocks that could be stored at altitude until needed in the many cities below.
The Verdi Real Estate Boom
Verdi was probably the fastest populated town to ever appear along the Central Pacific Railroad in 1869. An entire town relocated to call Verdi home. Today, prospectors have taken the form of real estate developers who achieved great success building out Northwest Reno, and expanded into Mogul and Verdi. Homebuyers are relocating to Verdi from Reno and Lake Tahoe.
Currently, there are 20 homes for sale with the average days on market at 34 days. The Median Price for listings is at $950K, while the median price of sold homes is at $770K. Home prices in many areas were up 36% over last year, but in Verdi, prices rose only 21% from 2021 to 2022.
Of the 20 homes, 5 are pending or contingent. Prices range from $599K to $4.2 million. Redfin has marked this area somewhat competitive as homes are still selling close to asking price. Some of the pricier homes are seeing price reductions.
Whether you are buying or selling your property in Verdi, I would love to show you what makes this neighborhood a great opportunity for buyers.
Contact me today for a free property analysis of your home or for a list of available homes for sale.