January 2026 Update and Newsletter
What a strong start to 2026! I've already had the pleasure of helping three families and one investor find their perfect properties. On the home front, baby Madison is growing and changing every day—being a dad is truly unbelievable and the best adventure yet.
One of my goals this year is to keep you all better updated on our local Reno market. I want to deliver real value—not just dry month-over-month stats (boring!), but insights into what my colleagues and I are actually seeing on the ground. Expect a mix: great deals I spot, client success stories, my favorite new spots around town, or shifts I'm sensing on the horizon.
In this first newsletter, I'll share details from my recent closings (they're perfect examples of what's happening right now), touch on exciting progress in Downtown Damonte, and update you on the long-awaited South Reno Costco proposal.
One of my listings that closed in the first week of January 2026 was a relisting from 2024. When we originally brought it to market in VC Highlands at $920,000, it was priced on the high side. After two reductions, we pulled it off just before spring 2025. We relaunched in September 2025 at what I believed was true market value—and it went under contract at full price in just two months.
That's huge in VC Highlands, where days on market can drag and sellers were averaging around 91% of list price at the time. We hit 100%!
The same family then relocated to the North Valleys. I helped them secure a home that had been taken off the market after failing to sell—it was overpriced, the sellers chased the price down until they ran out of room, and they switched to renting it. We came in with an offer $13,000 below the original list price, and it was accepted.
Key takeaway: Homes priced right are flying off the market quickly in this environment. Overpriced ones sit, get stale, require repeated cuts, and can turn off buyers. Unfortunately, listings have a "history"—buyers remember and often pass. Pricing strategy matters more than ever!
Great news for South Reno—Downtown Damonte is moving forward after years of environmental delays that have now been fully resolved in the developers' favor.
The project, spanning about 30 acres near Damonte Ranch and Steamboat Parkways, is designed as a walkable, family-friendly mixed-use hub. It will include offices, restaurants, retail, townhomes, park space, and seasonal community events. (Original plans called for significant office space, hotel rooms, and apartments, but it's been refined with ~20 acres dedicated to townhomes.)
Infrastructure work is already underway, and the builder (led by Di Loreto) expects visible vertical construction to begin by summer 2026. Di Loreto shared, "We had some environmental issues that we needed to resolve, and I’m very pleased to say those have all been taken care of and resolved in our favor." The city has been supportive, and locals are eager for more dining, shopping, and vibrancy.
This could bring a big boost to the area—more amenities, jobs, and appeal for families and professionals. If you're in or eyeing South Reno, this is worth watching!
The buzz about a new Costco in South Reno continues! A pre-application has been filed for a ~161,500-square-foot warehouse (plus gas station and car wash) at the northeast corner of S. Virginia Street and Veterans Parkway—near the Summit mall and in the Damonte Ranch area.
The proposal ties into a larger master plan, including extending Damonte Ranch Parkway to connect Veterans Parkway and Old Virginia Road (with some temporary connections proposed due to land ownership). A traffic study has been approved, but it's still in early stages—no official applications yet, and it needs review by the Pioneer Parkway Design Review Committee and city approvals.
No firm timeline for construction or opening has been announced, but if it moves forward, it would be Reno's second Costco (after the Plumb Lane location) and a major convenience win for South Reno residents. It could drive more traffic, retail energy, and even positive pressure on nearby home values—but we'll have to wait and see if it becomes reality.
Stay tuned—I'll keep you posted on any updates!
If any of this sparks questions about your own situation—whether buying, selling, or just curious about values—reach out anytime. I'm here to help and always happy to chat market trends over coffee.
Wishing you a fantastic 2026 ahead!
Best regards,
Real Estate
Real Estate
Whether you're buying, selling, or investing, Ben Florsheim brings deep Reno-Tahoe knowledge and 13+ years of proven success to help you navigate the market with confidence and clarity.
