The Surge Continues
- Residential and industrial zoned land dominated sales
- Sales volume reached $529 million this quarter
- Land prices may have started to moderate
Sales of residential and industrial zoned land increased in the first quarter of 2022, while commercial land sales returned to a more normal level after surging last year. The average price per square foot for land in the Valley increased to $11.48 psf from $11.13 psf. On a year over year basis, the average price of land decreased by $0.36 psf.
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