Land is Back
- Increased development is stimulating land sales
- Sales volume reached $365.1 million in 21q1
- Land sales totaled 707.99 acres this quarter
Land sales declined last year, and are on pace to decrease again in 2021 despite fairly strong residential and industrial development. In the first quarter of 2021, a total of 707.99 acres was sold with a sales volume of $365.1 million at an average price of $11.84 per square foot. This was an improvement over the fourth quarter of 2020, but lower sales than were recorded in the first quarter of 2020.
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