On July 18, 2022, at the Clark County Aviation Land Auction, 20 properties totaling 161 acres were auctioned at a collective fair market value of $117,877,500.
Most properties met the minimum bid requirements and were ultimately sold to the highest bidder. 133 acres were sold for a total of $100 million, averaging a price of $757,000 per acre.
The bidding activity at the auction exceeded our expectations. Despite the recent economic uncertainty, the results of the land auction are evidence of continued strong land values in Las Vegas.