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
May '26
206
- vs. Prior Period
-
23.4%
- vs. Prior Year
-
-3.3%
Commercial Market
Office Market
| Class A | Class B | Class C | Total | |
|---|---|---|---|---|
| Property Count | 65 65 | 1,051 1,068 | 141 146 | 1,257 1,279 |
| Net Rentable Area (SF) | 7,384,166 7,577,773 | 28,594,302 29,169,871 | 4,554,677 4,580,229 | 40,533,145 41,327,873 |
| Vacant Square Feet (Direct) | 1,327,008 1,516,861 | 2,850,720 2,968,813 | 717,331 636,653 | 4,895,059 5,125,747 |
| Vacancy Rate (Direct) | 18.0% 20.0% | 10.0% 10.2% | 15.7% 13.9% | 12.1% 12.4% |
| Average Rent¹ (Direct, FSG) | $3.10 $3.15 | $2.50 $2.48 | $1.70 $1.82 | $2.57 $2.61 |
| Net Absorption (Direct SF) | 106,590 149,023 | 25,619 9,151 | 32,173 -146,053 | 164,382 12,122 |
| 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 | 98 96 | 853 929 | 268 264 | 427 414 | 156 163 | 2,041 2,526 | 3,843 4,391 |
| Net Rentable Area (SF) | 44,880,448 44,199,551 | 22,175,292 22,520,482 | 41,108,916 40,710,707 | 27,501,168 26,429,321 | 13,592,071 13,235,317 | 32,425,638 34,175,940 | 181,683,533 181,271,317 |
| Vacant Square Feet (Direct) | 6,660,266 8,902,137 | 1,337,507 1,048,067 | 4,635,258 4,955,516 | 2,123,574 1,726,006 | 176,353 93,131 | 1,100,091 1,071,917 | 16,033,049 17,796,773 |
| Vacancy Rate (Direct) | 14.8% 20.2% | 6.0% 4.7% | 11.3% 12.2% | 7.7% 6.5% | 1.3% 0.7% | 3.4% 3.1% | 8.8% 9.8% |
| Average Rent¹ (Direct, NNN) | $0.95 $1.00 | $1.24 $1.30 | $0.92 $1.12 | $1.15 $1.25 | $1.16 $1.31 | $1.25 $1.27 | $1.02 $1.18 |
| Net Absorption (Direct SF) | 1,195,323 1,010,343 | 35,907 34,196 | 187,945 1,006,523 | 251,164 65,297 | -49,311 -44,953 | 186,952 318,078 | 1,807,980 2,389,484 |
| Construction Deliveries (SF) | 0 1,890,394 | 168,900 98,146 | 0 1,015,120 | 230,995 459,540 | 0 0 | 127,350 468,275 | 527,245 3,931,473 |
| Under Construction (SF) | 2,501,908 4,836,534 | 151,811 180,651 | 658,000 1,322,657 | 345,003 1,233,092 | 2,823,856 2,059,652 | 499,779 385,698 | 15,230,746 10,018,284 |
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 | 15,886,759 16,115,801 | 1,229,692 1,404,067 | 7.7% 8.7% | $1.54 $1.61 | 61,147 141,012 | 0 30,945 | 0 1,253 |
| Central West | 18,256,075 18,295,348 | 1,203,005 1,034,228 | 6.6% 5.6% | $1.85 $1.87 | -15,862 -20,308 | 0 159,246 | 0 116,400 |
| East | 6,062,790 6,020,772 | 137,726 174,385 | 2.3% 2.9% | $2.11 $1.94 | 105,010 34,857 | 53,600 17,548 | 0 33,779 |
| North (North Las Vegas) | 9,861,642 9,828,843 | 413,798 475,212 | 4.2% 4.8% | $1.95 $1.92 | 55,055 -25,010 | 5,500 52,242 | 0 8,246 |
| Northeast | 7,152,331 7,140,838 | 307,449 263,948 | 4.3% 3.7% | $1.63 $1.60 | 703 -36,514 | 6,000 8,309 | 0 5,750 |
| Northwest | 7,746,645 7,691,175 | 107,809 171,149 | 1.4% 2.3% | $2.39 $2.34 | 116,968 -40,776 | 50,000 11,281 | 0 14,094 |
| Southeast (Henderson) | 22,302,830 22,143,454 | 924,504 964,151 | 4.1% 4.3% | $2.59 $2.29 | 86,139 -253,777 | 24,864 9,958 | 0 1,575 |
| Southwest | 12,670,732 12,581,885 | 318,236 316,451 | 2.5% 2.5% | $2.72 $2.85 | -16,203 97,146 | 4,300 82,443 | 45,089 78,911 |
| West (Summerlin) | 11,048,469 11,152,539 | 487,498 493,388 | 4.4% 4.4% | $2.69 $2.60 | -8,873 -22,626 | 0 34,875 | 9,548 14,012 |
| Total | 110,988,273 110,970,654 | 5,129,717 5,296,980 | 4.6% 4.8% | $2.10 $2.04 | 384,084 -125,996 | 144,264 406,846 | 54,637 274,019 |
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
Q1 '26
90.5
-
- vs. Prior Quarter
- 1.9%
- vs. Prior Year
- -73.8%
-
Total Value
Q1 '26
$127.6M
-
- vs. Prior Quarter
- 46.7%
- vs. Prior Year
- -71.4%
Source: Applied Analysis
-
Price Per Square Foot
Q1 '26
$32.35
-
- vs. Prior Quarter
- 43.9%
- vs. Prior Year
- 9.1%