City of Las Vegas
Monthly Economic Update
July 2018
City of las vegas Employment
  • Employment

    May '18
  • 296,621

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Unemployment Rate Comparison
CLARK COUNTY
TAXABLE RETAIL SALES CATEGORY
Trailing 12-Months ($ Millions)
Apr-2017 Apr-2018 Net Change % Change
Taxable Retail 100.0% $40,689.0M $42,148.8M $1,459.7M 3.6%
Food Services and Drinking Places 25.5% $10,517.9M $10,740.4M $222.5M 2.1%
Motor Vehicle and Parts Dealers 11.5% $4,632.5M $4,834.9M $202.5M 4.4%
General Merchandise Stores 8.3% $3,394.0M $3,503.0M $108.9M 3.2%
Clothing and Clothing Accessories Stores 8.0% $3,368.5M $3,375.6M $7.1M 0.2%
Merchant Wholesalers, Durable Goods 5.8% $2,245.2M $2,462.1M $216.9M 9.7%
Building Material and Garden Equipment & Supplies 4.0% $1,557.3M $1,705.7M $148.4M 9.5%
Rental and Leasing Services 3.7% $1,490.3M $1,557.5M $67.3M 4.5%
Miscellaneous Store Retailers 2.5% $723.7M $1,043.3M $319.5M 44.2%
Food and Beverage Stores 3.1% $1,262.1M $1,324.1M $62.0M 4.9%
Electronics and Appliance Stores 2.6% $1,138.9M $1,078.0M -$60.8M -5.3%

Source: Nevada Department of Taxation

OFFICE MARKET

16.6%

VACANCY RATE

Q1 '18
  • -0.9% vs. prior yr.
  • -0.4% vs. prior Qtr.

$1.99

LEASE RATE

Q1 '18
  • 1.0% vs. prior yr.
  • 0.3% vs. prior Qtr.
RETAIL MARKET

7.7%

VACANCY RATE

Q1 '18
  • -1.0% vs. prior yr.
  • -0.1% vs. prior Qtr.

$1.79

LEASE RATE

Q1 '18
  • 4.0% vs. prior yr.
  • 2.2% vs. prior Qtr.
INDUSTRIAL MARKET

5.8%

VACANCY RATE

Q1 '18
  • -1.3% vs. prior yr.
  • -0.7% vs. prior Qtr.

$0.61

LEASE RATE

Q1 '18
  • 1.7% vs. prior yr.
  • -0.5% vs. prior Qtr.

Source: Applied Analysis

CITY OF LAS VEGAS MONTHLY ECONOMIC UPDATE
MEDIAN CLOSING PRICE

EXISTING HOME

NEW HOME

Las Vegas (NV) Las Vegas MSA (NV) Source: SalesTraq

  • EXISTING HOME

    Feb '18

    $240K

  • NEW HOME

    Feb '18

    $430K

HOME CLOSINGS

EXISTING HOME

NEW HOME

Source: SalesTraq

  • EXISTING HOME

    Feb '18

    119

  • NEW HOME

    Feb '18

    952

PERMITS

Total Permits

Permit Value

  • TOTAL PERMITS

    Apr '18

    185

  • PERMIT VALUE

    Feb '17

    16M

VACANT LAND TRANSACTIONS

147.8

ACRES SOLD

Q3 '17
  • 257.8% vs. prior yr.
  • 35.5% vs. prior Qtr.

$70,869,400.00

TOTAL VALUE

Q3 '17
  • 264.9% vs. prior yr.
  • 67.8% vs. prior Qtr.

$479,462.82

PRICE PER ACRE

Q3 '17
  • 2.0% vs. prior yr.
  • 23.9% vs. prior Qtr.

$11.01

PRICE PER SQUARE FOOT

Q3 '17
  • 2.0% vs. prior yr.
  • 23.8% vs. prior Qtr.

Source: Applied Analysis