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

    Apr '18
  • 294,685

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Unemployment Rate Comparison
CLARK COUNTY
TAXABLE RETAIL SALES CATEGORY
Trailing 12-Months ($ Millions)
Mar-2017 Mar-2018 Net Change % Change
Taxable Retail 100.0% $40,598.7M $41,876.3M $1,277.6M 3.1%
Food Services and Drinking Places 25.6% $10,525.9M $10,705.9M $180.0M 1.7%
Motor Vehicle and Parts Dealers 11.5% $4,635.2M $4,806.5M $171.3M 3.7%
General Merchandise Stores 8.4% $3,379.4M $3,497.2M $117.8M 3.5%
Clothing and Clothing Accessories Stores 8.1% $3,370.7M $3,375.8M $5.1M 0.2%
Merchant Wholesalers, Durable Goods 5.8% $2,234.9M $2,430.9M $196.0M 8.8%
Building Material and Garden Equipment & Supplies 4.0% $1,534.8M $1,686.9M $152.2M 9.9%
Rental and Leasing Services 3.7% $1,496.7M $1,543.1M $46.4M 3.1%
Miscellaneous Store Retailers 2.4% $714.1M $994.6M $280.5M 39.3%
Food and Beverage Stores 3.2% $1,256.7M $1,321.5M $64.9M 5.2%
Electronics and Appliance Stores 2.6% $1,140.0M $1,076.7M -$63.3M -5.5%

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