Southern Nevada sold 1,889 acres of land during the first three quarters of 2014 or 434 acres more than the same period last year, reports Colliers International Las Vegas. Average land prices were $7.61 per square foot in third quarter, up from 2013. Total commercial land sales volume was $170.5 million. “A lack of improved lots should keep development low for now, and experts seem to agree that there will be no significant increase in residential construction until 2016 at the earliest,” said Colliers research manager John Stater. For more information, CLICK HERE.
