Real Estate Statistics: One-Sixth Price Becoming A Trend

We had written about how Arizona land sold for 8 percent of its peak price - today we spotted this:

"A 23.53-acre property at the Las Vegas Beltway and Hacienda Avenue that sold for $30.2 million in 2007 and was later foreclosed upon has been sold for $4.4 million."

Statistics Source: CalculatedRisk