Southern Nevada Land Sales Up in 2014

Report 3Q Valley Land Values Cut in HalfSouthern Nevada’s land market continued its recovery in 2014, with 2,761 acres trading hands up 4.5% from the prior year, reports John Stater, research manager for Colliers International Las Vegas. There was $150 million in sales with an average price of $6.35 per square foot. During the real estate boom in 2007, land sold for $22.93 per square foot on average. After the market collapse, however, land prices reached a low of $4.41 per square foot in 2012. “The key to land sales is confidence in the future, both in terms of land investment and demand for land by developers,” said Stater. “The future is now looking brighter, although there room for more improvement.” For more information, CLICK HERE.

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