Land Sales Increase
After a very strong year of land sales in 2018, Southern Nevada got off to a good start in the first quarter of 2019. A total of 530 acres were sold with a sales volume of $353.7 million and an average price of $15.33 per square foot. This was both the highest first quarter sales volume recorded in the past seven years, and the lowest first quarter number of acres sold in seven years. This means that sales volume was driven more by price than by a significant uptick in demand for vacant land. Commercial land was the big seller in the first quarter, followed by residential land and finally industrial land.
Have future reports delivered directly to your inbox - click here to subscribe to this and other regional e-mail delivery lists.