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

    Jun '18
  • 295,620

Unemployment Rate Comparison
  • Unemployment Rate

    Jun '18
  • 4.9%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

CLARK COUNTY
TAXABLE RETAIL SALES CATEGORY
Trailing 12-Months ($ Millions)
May-2017 May-2018 Net Change % Change
Taxable Retail 100.0% $40,876.1M $42,344.3M $1,468.2M 3.6%
Food Services and Drinking Places 25.4% $10,538.0M $10,769.7M $231.8M 2.2%
Motor Vehicle and Parts Dealers 11.3% $4,652.3M $4,801.4M $149.1M 3.2%
General Merchandise Stores 8.3% $3,401.8M $3,524.4M $122.6M 3.6%
Clothing and Clothing Accessories Stores 8.0% $3,363.9M $3,383.5M $19.6M 0.6%
Merchant Wholesalers, Durable Goods 5.9% $2,276.5M $2,489.0M $212.5M 9.3%
Building Material and Garden Equipment & Supplies 4.1% $1,580.0M $1,717.9M $137.9M 8.7%
Rental and Leasing Services 3.7% $1,492.4M $1,576.3M $83.9M 5.6%
Food and Beverage Stores 3.1% $1,267.3M $1,328.5M $61.2M 4.8%
Miscellaneous Store Retailers 2.5% $738.2M $1,068.4M $330.1M 44.7%
Electronics and Appliance Stores 2.6% $1,128.7M $1,082.1M -$46.6M -4.1%

Source: Nevada Department of Taxation

OFFICE MARKET

16.5%

VACANCY RATE

Q2 '18
  • -0.6% vs. prior yr.
  • 0.2% vs. prior Qtr.

$2.02

LEASE RATE

Q2 '18
  • 2.0% vs. prior yr.
  • 1.0% vs. prior Qtr.
RETAIL MARKET

7.5%

VACANCY RATE

Q2 '18
  • -1.0% vs. prior yr.
  • -0.2% vs. prior Qtr.

$1.77

LEASE RATE

Q2 '18
  • 4.3% vs. prior yr.
  • -0.9% vs. prior Qtr.
INDUSTRIAL MARKET

5.9%

VACANCY RATE

Q2 '18
  • -1.1% vs. prior yr.
  • -0.0% vs. prior Qtr.

$0.64

LEASE RATE

Q2 '18
  • 9.5% vs. prior yr.
  • 4.4% 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

    May '18

    $251K

  • NEW HOME

    May '18

    $483K

Home Closings

EXISTING HOME

NEW HOME

Source: SalesTraq

  • EXISTING HOME

    May '18

    148

  • NEW HOME

    May '18

    1,390

Permits

Total Permits

Permit Value

Source: SalesTraq

  • 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