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

    Nov '17
  • 292,646

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Unemployment Rate Comparison
CLARK COUNTY
TAXABLE RETAIL SALES CATEGORY
Trailing 12-Months ($ Millions)
Oct-2016 Oct-2017 Net Change % Change
Taxable Retail 100.0% $39,724.8M $41,243.5M $1,518.7M 3.8%
Food Services and Drinking Places 26.0% $10,307.6M $10,732.1M $424.6M 4.1%
Motor Vehicle and Parts Dealers 11.5% $4,538.7M $4,743.0M $204.3M 4.5%
General Merchandise Stores 8.4% $3,380.0M $3,446.7M $66.7M 2.0%
Clothing and Clothing Accessories Stores 8.1% $3,407.8M $3,327.6M -$80.2M -2.4%
Merchant Wholesalers, Durable Goods 5.7% $2,179.3M $2,356.4M $177.1M 8.1%
Building Material and Garden Equipment & Supplies 4.0% $1,440.5M $1,638.1M $197.6M 13.7%
Rental and Leasing Services 3.7% $1,451.4M $1,511.6M $60.3M 4.2%
Food and Beverage Stores 3.1% $1,244.0M $1,290.7M $46.7M 3.8%
Electronics and Appliance Stores 2.6% $1,116.5M $1,086.8M -$29.7M -2.7%
Miscellaneous Store Retailers 2.0% $698.5M $832.2M $133.7M 19.1%

Source: Nevada Department of Taxation

OFFICE MARKET

17.0%

VACANCY RATE

Q3 '17
  • -1.4% vs. prior yr.
  • -0.5% vs. prior Qtr.

$1.97

LEASE RATE

Q3 '17
  • 3.0% vs. prior yr.
  • -0.1% vs. prior Qtr.
RETAIL MARKET

8.2%

VACANCY RATE

Q3 '17
  • -0.9% vs. prior yr.
  • -0.5% vs. prior Qtr.

$1.70

LEASE RATE

Q3 '17
  • -0.5% vs. prior yr.
  • 1.5% vs. prior Qtr.
INDUSTRIAL MARKET

6.3%

VACANCY RATE

Q3 '17
  • -0.8% vs. prior yr.
  • -0.5% vs. prior Qtr.

$0.59

LEASE RATE

Q3 '17
  • 2.9% vs. prior yr.
  • 2.4% 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

    Nov '17

    $233K

  • NEW HOME

    Nov '17

    $444K

HOME CLOSINGS

EXISTING HOME

NEW HOME

Source: SalesTraq

  • EXISTING HOME

    Nov '17

    135

  • NEW HOME

    Nov '17

    1,118

PERMITS

Total Permits

Permit Value

  • TOTAL PERMITS

    Feb '17

    102

  • 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