Subscribers have recently received Volume 267 of the Las Vegas Land Report which contains transaction level data for Clark County land sales from June 2016. We are noticing a slow and slight uptick in the number of transactions coming through each month. Particularly, as we have also seen in the new home permit data, custom lot sales continue to grow with more small builders getting back into the action. In June, we saw the second month of lot closings in The Summit project in Summerlin by Discovery Land Co. The closing prices live up to the billing of this being the ultra-exclusive place to be in the valley with lots going for between $2 and $3 million dollars. Yes, that's the per lot price for the dirt. Can't wait to see what the homes will be like!
Pardee Homes picked up 33+ acres in The Cliffs at Summerlin. Other builder activity was mainly limited to lot take-downs in existing communities. We did see a land sale by DR Horton which is notable only because we have not seen many, if any, instances of builders selling land for many months.
For access to the complete list of data each month, subscribe to The Las Vegas Land Report and the Interactive Las Vegas Land Report today. The Interactive version plots each transaction on a map for easy visualization and allows the user to compile the data each month for a simple way to view activity over time in a selected area. For more information or to have your questions answered, Contact Us today.