Panaca is a little town in eastern Nevada with a rich history and Mormon roots all the way back to the 1860s. Today, this is more of an agricultural community with 1,000+ residents. Here, residents and visitors alike enjoy this easygoing town atmosphere and convenient access to renowned Cathedral Gorge State Park. Other nearby attractions include Kershaw-Ryan State Park, Echo Canyon, Spring Valley, and even a few explorable ghost towns. This small town also has a wide variety of shops, cafes, resorts, museums, distilleries, and more. As a result, the real estate market is very competitive.
Presently, there are less than ten single-family homes on the market now. These available homes range from $145,000 to $480,000 and have a median sale price of approximately $300,000 or so. Overall, homes for sale in Panaca are between 1-8 bedrooms, 2+ bathrooms, and a minimum 1,000 square feet of living space. Similarly, land for land is in limited supply currently, with only 6+ properties on the market. These available land lots are by and large homesites or zoned for residential building and range from $65,000 for a 20-acre lot to $218,680 for a 9.94-acre lot with highway frontage.
If you're looking for affordable houses in Panaca, as briefly mentioned, you are in luck. At the moment, all of the available houses on the market are listed for less than $500,000. The most inexpensive home for sale is a lovely 3-bed, 2-bath, 1,534 square foot cozy house for $145,000. Built in 1950, this home has been recently remodeled and has amazing home features like an upstairs loft plus a modern kitchen. Then again, a sizable 8-bed, 4.5-bath, 3,400 square foot vacation property is also available for $400,000. This gorgeous home has everything you or your guests could need, including a game room and spectacular views on a 1.1-acre lot. Other notable home features here include a ton of recent upgrades, spa-like bathrooms, spacious guest rooms, and an attached garage that doubles as an outdoor entertainment room.
Finally, if you like the idea of a vacation home in Panaca, but don't need eight bedrooms, then the one-of-a-kind 4-bed, 2-bath, 4,811 square foot historic home for $480,000 is for you. This fantastic property is another possible bed and breakfast opportunity or charming family vacation retreat. This home has a large family room, a modern kitchen, a caretaker's cottage, and a bunkhouse.
Likewise, purchasing a homesite in Panaca is worth considering if you want to build the home you've always wanted. Here, property for sale offers mixed terrain, preinstalled utilities, and a semi-secluded homesite. For instance, a 2-acre lot on Whitewash Road is for sale for $65,000. This gorgeous property borders BLM land and is perfect for a recreational getaway home. Then again, an almost 10-acre lot on Hollow lane is available for $125,000. This sizable lot has rolling hills, mountainous property, and leveled land for additional outbuildings. What's more, there's a preexisting foundation for your home if you choose to build where the previous house was situated.
Alternatively, if you are interested in commercially zoned property, you'll be glad to know that there are several properties available right now. Take the commercial/ recreational 7.6-acre lot on Highway 170 for $152,000. Located just outside Panaca city limits, this particular acreage is centrally located to multiple nearby towns, including Caliente and Pioche. There are also two more Highway 170 commercial lots on the market—an 8.9-acre lot for $178,000 and a 9.94-acre lot for $218,680. Here, you can camp, hike, going horseback riding as well as explore the local ATV trails.