Land Sales Decrease in Third Quarter
- Residential land continued to dominate sales in Vegas
- Sales volume decreased to $538.7 million
- Land prices increased to $11.49 PSF
Land sales dipped in the third quarter of 2022, with sales volume down 8.6%, and acreage sold down 9.8% from last quarter. Residential land sales continued to dominate, though they also saw the greatest decrease in sales. Commercial and industrial zoned land saw sales volume increase quarter-over-quarter. The average price per square foot for land in the Valley changed little to $11.49 psf from $11.35 psf. On a year-over-year basis, the average price of land increased by $1.42 psf.
Have future reports delivered directly to your inbox - click here to subscribe to this and other regional e-mail delivery lists.