Porsche 911 (964) Carrera 4

The 964 Carrera 4 has settled at a median of $116,000 in the US market, down 8.5 percent over the past twelve months—a correction that appears to have run its course. Our tracking captures nine transactions in that window across a total sample of twenty-eight sales, signaling the model has likely bottomed out after a period of downward pressure.

Production of the 964 Carrera 4 reached 13,353 units globally, positioning it as a relatively common generation within the 911 lineage. Despite that volume, the model carries a collectibility score of 7 and remains classified as an appreciating classic, supported by its all-wheel-drive architecture and the 964's status as the final air-cooled 911 before the 996 shift.

Cars transacted in this market show an average mileage of 53,586 miles, a modest figure that reflects the model's age and the care typical owners tend to apply to early-1990s Porsche inventory. This mileage baseline sits comfortably within expectations for vehicles now spanning three decades.

Liquidity remains thin, with only three active listings and a nine-sale sample over twelve months. That scarcity cuts both ways: it limits supply and supports price stability, but it also means buyers face infrequent opportunities and sellers should expect some patience in finding the right purchaser. The market is essentially operating on a matching-pairs basis rather than a liquid auction floor.

Over the next three years, the base case projects median appreciation to $127,055, a gain of 9.5 percent. The five-year projection rises to $130,834, representing 12.8 percent cumulative growth. These forecasts reflect the model's positioning as a genuine air-cooled collectable with proven holding power, sustained by moderate desirability and the narrowing window for pre-996 examples.

The current posture warrants attention for patient buyers willing to step into a model where price momentum has stabilized after a brief decline. The 964 Carrera 4 remains under-appreciated relative to its rear-wheel-drive siblings, a dynamic that could drive steady appreciation as inventory ages and collector focus sharpens on the final air-cooled generation.