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

    Mar '18
  • 294,008

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Unemployment Rate Comparison
CLARK COUNTY
TAXABLE RETAIL SALES CATEGORY
Trailing 12-Months ($ Millions)
Feb-2017 Feb-2018 Net Change % Change
Taxable Retail 100.0% $40,256.0M $41,786.4M $1,530.4M 3.8%
Food Services and Drinking Places 25.7% $10,443.8M $10,735.4M $291.6M 2.8%
Motor Vehicle and Parts Dealers 11.5% $4,590.4M $4,798.8M $208.5M 4.5%
Clothing and Clothing Accessories Stores 8.1% $3,373.8M $3,370.8M -$3.0M -0.1%
General Merchandise Stores 8.4% $3,377.7M $3,502.6M $124.9M 3.7%
Merchant Wholesalers, Durable Goods 5.8% $2,213.0M $2,428.9M $215.9M 9.8%
Building Material and Garden Equipment & Supplies 4.0% $1,506.6M $1,686.7M $180.1M 12.0%
Rental and Leasing Services 3.7% $1,481.9M $1,539.4M $57.5M 3.9%
Food and Beverage Stores 3.2% $1,260.2M $1,316.9M $56.7M 4.5%
Miscellaneous Store Retailers 2.3% $704.6M $950.5M $246.0M 34.9%
Electronics and Appliance Stores 2.6% $1,143.7M $1,072.6M -$71.1M -6.2%

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

    Dec '17

    $233K

  • NEW HOME

    Dec '17

    $448K

HOME CLOSINGS

EXISTING HOME

NEW HOME

Source: SalesTraq

  • EXISTING HOME

    Dec '17

    179

  • NEW HOME

    Dec '17

    1,172

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