Property Data Overview
Housing Market
Existing Home
New Home
Source: SalesTraq
-
Median Closing Price
Dec '24 - Existing Home
-
$419K
- 2.2%
- VS. PRIOR YEAR
- new Home
-
$584K
- 1.0%
- VS. PRIOR YEAR
Existing Home
New Home
Source: SalesTraq
-
Home Closings
Dec '24 - existing Home
-
654
- 6.5%
- VS. PRIOR YEAR
- new Home
-
230
- 6.2%
- VS. PRIOR YEAR
Source: SalesTraq
-
Total Permits
Jul '26
168
- vs. Prior Period
-
5.0%
- vs. Prior Year
-
-13.0%
Commercial Market
Office Market
| Class A | Class B | Class C | Total | |
|---|---|---|---|---|
| Property Count | 85 65 | 1,026 1,063 | 141 145 | 1,252 1,273 |
| Net Rentable Area (SF) | 9,809,629 7,529,636 | 25,910,174 29,002,383 | 4,554,677 4,573,841 | 40,274,480 41,105,859 |
| Vacant Square Feet (Direct) | 1,540,845 1,445,106 | 2,540,098 2,948,845 | 708,775 681,920 | 4,789,718 5,075,870 |
| Vacancy Rate (Direct) | 15.7% 19.2% | 9.8% 10.2% | 15.6% 14.9% | 11.9% 12.3% |
| Average Rent¹ (Direct, FSG) | $3.07 $3.13 | $2.46 $2.48 | $1.69 $1.77 | $2.56 $2.59 |
| Net Absorption (Direct SF) | 208,121 158,570 | -72,087 -1,551 | 38,488 -131,332 | 174,522 25,688 |
| Construction Deliveries (SF) | 0 0 | 0 0 | 0 0 | 0 0 |
| Under Construction (SF) | 0 0 | 0 0 | 0 0 | 0 0 |
Industrial Market
| Bulk Distribution | Flex/ Incubator | Light Distribution | Midbay | Special Purpose | Single Tenant | Total | |
|---|---|---|---|---|---|---|---|
| Property Count | 101 97 | 861 910 | 271 266 | 433 419 | 156 161 | 2,051 2,403 | 3,873 4,255 |
| Net Rentable Area (SF) | 45,846,197 44,515,499 | 22,482,258 22,440,556 | 41,528,916 40,975,370 | 27,746,401 26,824,887 | 13,645,979 13,326,154 | 32,379,940 33,773,121 | 183,629,691 181,855,585 |
| Vacant Square Feet (Direct) | 6,887,134 8,351,558 | 1,854,877 1,179,387 | 6,059,860 4,901,056 | 3,077,730 1,887,973 | 397,398 122,317 | 1,810,656 1,075,626 | 20,087,655 17,517,916 |
| Vacancy Rate (Direct) | 14.0% 18.8% | 6.0% 5.3% | 12.0% 12.0% | 8.0% 7.0% | 2.0% 0.9% | 3.0% 3.2% | 9.0% 9.6% |
| Average Rent¹ (Direct, NNN) | $0.93 $0.98 | $1.24 $1.28 | $0.94 $1.08 | $1.10 $1.22 | $1.10 $1.27 | $1.28 $1.26 | $1.03 $1.14 |
| Net Absorption (Direct SF) | 2,110,101 1,288,655 | 30,511 -4,152 | 210,604 946,236 | 277,169 160,729 | -200,107 -54,486 | 121,731 357,263 | 2,550,009 2,694,245 |
| Construction Deliveries (SF) | 794,749 1,659,752 | 168,900 140,371 | 420,000 926,334 | 230,995 517,288 | 0 0 | 206,931 444,065 | 1,821,575 3,687,809 |
| Under Construction (SF) | 1,708,294 5,017,752 | 407,511 152,906 | 238,000 1,117,960 | 345,530 1,015,961 | 2,740,617 2,079,066 | 453,174 374,565 | 5,893,126 11,820,806 |
Retail Market
| Net RentableArea (SF) | Vacant Square Feet (Direct) | Vacancy Rate (Direct) | Average Rent¹ (Direct, NNN) | Net Absorption (Direct SF) | Construction Deliveries (Direct SF) | Under Construction (SF) | |
|---|---|---|---|---|---|---|---|
| Central East | 15,818,601 16,051,672 | 1,232,068 1,332,154 | 8.0% 8.3% | $1.58 $1.59 | 58,771 152,381 | 0 30,945 | 0 1,028 |
| Central West | 18,205,413 18,323,017 | 961,735 1,119,881 | 5.0% 6.1% | $1.79 $1.85 | 225,408 -23,091 | 0 159,246 | 0 116,400 |
| East | 6,089,974 6,033,691 | 160,936 167,429 | 3.0% 2.8% | $2.37 $2.01 | 77,599 54,002 | 54,450 30,408 | 0 31,023 |
| North (North Las Vegas) | 9,813,347 9,842,114 | 445,727 447,666 | 5.0% 4.6% | $1.91 $1.95 | 33,052 12,730 | 19,730 46,087 | 0 3,848 |
| Northeast | 7,151,635 7,146,863 | 309,070 287,629 | 4.0% 4.1% | $1.65 $1.61 | -918 -39,238 | 6,000 8,509 | 0 5,500 |
| Northwest | 7,741,906 7,705,428 | 117,400 150,695 | 2.0% 2.0% | $2.41 $2.35 | 107,377 4,175 | 50,000 22,202 | 0 12,500 |
| Southeast (Henderson) | 22,328,996 22,194,054 | 886,985 974,563 | 4.0% 4.4% | $2.64 $2.38 | 128,130 -185,280 | 29,336 16,174 | 0 1,575 |
| Southwest | 12,804,729 12,620,576 | 327,997 321,846 | 3.0% 2.6% | $2.78 $2.84 | 187,289 74,723 | 217,553 72,459 | 0 81,420 |
| West (Summerlin) | 11,064,620 11,105,858 | 486,663 487,569 | 4.0% 4.4% | $2.80 $2.62 | 1,510 -6,819 | 9,548 34,875 | 0 4,774 |
| Total | 111,019,221 111,023,272 | 4,928,581 5,289,431 | 4.0% 4.8% | $2.13 $2.06 | 818,218 43,582 | 386,617 420,904 | 0 258,067 |
Source: CBRE
Office Market Office buildings include those that are 10,000 square feet or larger and exclude owner-user/single-tenant and government-owned properties. Buildings are considered under construction if site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. FSG stands for full-service gross.
Industrial Market Industrial and flex buildings exclude data centers. Properties are considered under construction once site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. NNN stands for triple net, meaning the tenant is responsible for property taxes, insurance, and maintenance.
Retail Market Retail buildings or shopping centers are defined as properties with a cumulative size of 5,000 square feet or more. Properties located within the resort corridor and regional malls are excluded. Properties are considered under construction once site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. NNN stands for triple net, meaning the tenant is responsible for property taxes, insurance, and maintenance.
Vacant Land Transactions
-
Acres Sold
Q2 '26
168.6
-
- vs. Prior Quarter
- 86.2%
- vs. Prior Year
- -0.1%
-
Total Value
Q2 '26
$196.5M
-
- vs. Prior Quarter
- 54.0%
- vs. Prior Year
- -2.4%
Source: Applied Analysis
-
Price Per Square Foot
Q2 '26
$26.75
-
- vs. Prior Quarter
- -17.3%
- vs. Prior Year
- -2.2%