City of Las Vegas Monthly Economic Update

City of Las Vegas Employment
  • Employment

    Feb '21
  • 281,288

Unemployment Rate Comparison
  • Unemployment Rate

    Feb '21
  • 9.4%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Clark County Taxable Retail Sales

  Trailing 12-Months
  Jan '20 Jan '21 Net Change % Change
Taxable Retail 100.0% $47,772.9M $41,111.4M -$6,661.6M -13.9%
Food Services and Drinking Places 516694847.0000000000
Motor Vehicle and Parts Dealers 413476041.0000000000
General Merchandise Stores 281110259.0000000000
Merchant Wholesalers, Durable Goods 242087895.0000000000
Clothing and Clothing Accessories Stores 180367624.0000000000
Building Material and Garden Equipment & Supplies 179195828.0000000000
Miscellaneous Store Retailers 125181973.0000000000
Food and Beverage Stores 118660948.0000000000
Rental and Leasing Services 88507618.0000000000
Furniture and Home Furnishings Stores 80571663.0000000000

Source: Nevada Department of Taxation

Commercial Real Estate Market

Office Market

Q4 '20

Vacancy Rate

15.3%

  • 2.3% vs. Prior Yr.
  • 0.9% vs. Prior Qtr.

Lease Rate

$2.03

  • -1.6% vs. Prior Yr.
  • 0.5% vs. prior Qtr.
Retail Market

Q4 '20

Vacancy Rate

7.0%

  • 0.2% vs. Prior Yr.
  • 0.1% vs. Prior Qtr.

Lease Rate

$1.83

  • -1.4% vs. Prior Yr.
  • -3.9% vs. Prior Qtr.
Industrial Market

Q4 '20

Vacancy Rate

6.0%

  • 0.0% vs. Prior Yr.
  • 0.2% vs. Prior Qtr.

Lease Rate

$0.71

  • 3.1% vs. Prior Yr.
  • 1.0% vs. Prior Qtr.

Housing Market

Median Closing Price

Existing Home

New Home

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

  • Existing Home

    $308K

    Jan '21
  • New Home

    $435K

    Jan '21
Home Closings

Existing Home

New Home

Source: SalesTraq

  • Existing Home

    1,073

    Jan '21
  • New Home

    115

    Jan '21
Permits

Total Permits

Permit Value

Source: SalesTraq

  • Total Permits

    200

    Feb '21
  • Permit Value

    $66M

    Feb '21
Vacant Land Transactions

Acres Sold

Q4 '20

226.6

  • -27.7% vs. Prior Yr.
  • 523.9% vs. Prior Qtr.

Total Value

Q4 '20

$133,371,503

  • -27.1% vs. Prior Yr.
  • 725.0% vs. Prior Qtr.

Price Per Square Foot

Q4 '20

$13.51

  • 0.8% vs. Prior Yr.
  • 32.2% vs. Prior Qtr.