Real Estate Market in Las Vegas

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Residential Real Estate Market in Las Vegas

New Home Market in Las Vegas

• New Home Sales (2019): 9,816 new home sales
• Median New Home Price (2019): $374,944
• New Home Permits: 10,506

New Homes in Las Vegas Pricing:

• Under $100,000: 0.0%
• $100,000 to $199,999: 1.7%
• $200,000 to $299,999: 16.3%
• $300,000 to $399,999: 36.3%
• $400,000 to $499,999: 21.9%
• $500,000 and Higher: 23.7%

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Commercial Real Estate Market in Las Vegas

Industrial Real Estate in Las Vegas

• Vacancy Rate: 6.9%
• Inventory (SF): 131.9M Square Feet
• Net Absorption (SF): 5.6M Square Feet
• Average Lease Rate (SF): $0.65 per Square Foot

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Office Real Estate in Las Vegas

• Vacancy Rate: 14.5%
• Inventory (SF): 56.2M Square Feet
• Net Absorption (SF): 1.1M Square Feet
• Average Lease Rate (SF): $2.03 per Square Foot

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Retail Real Estate in Las Vegas

• Vacancy Rate: 7.1%
• Inventory (SF): 54.8M Square Feet
• Net Absorption (SF): 665.4K Square Feet
• Average Lease Rate (SF): $1.76 per Square Foot

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Vacant Land Market in Las Vegas

• Average Price Per Acre: $454,706
• Price Per Square Foot: $10.44
• Number of Vacant Land Parcels Sold in 2019: 1,272

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