Valley land values plunge 74 percent in third quarter

November 2008
Las Vegas Business Press (10712186);11/10/2008, Vol. 25 Issue 45, p10
The article reports that the vacant land prices in Southern Nevada in the third quarter of 2008 has plummeted since 2006. According to local advisory firm Applied Analysis, median vacant raw land prices are $524,725 per acre or $1,487,932 less than the year earlier. Brian Gordon of Applied Analysis explains that fundamentals within the residential, commercial and resort markets have slowed, resulting in elevated vacancies and less consumer demand.


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