Intelligence

Regional Summaries

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Las Vegas, NV

Apartment
Vacancy in the Las Vegas apartment market ended 2018 at just 4.2%, up 100 basis points from a year earlier. The first quarter of 2019 followed with no new completions and net absorption at negative 81 units, not enough of a loss in occupancy to alter the vacancy rate. At $1,112 and $1,072 per month, asking and effective averages for the first quarter of 2019 were up 1.1% each for the period. VIEW APARTMENT LISTINGS >
Office
The Las Vegas general purpose, multi-tenant office market vacancy rate closed the first quarter of 2019 at 23.9%, unchanged from the quarter before, following an increase of 40 basis points through 2018. At $25.20 psf and $19.28 psf, asking and effective averages for the first quarter, low by the norms of national major markets, were up 0.3% each for the period after the increases of 1.8% and 1.9% recorded for 2018. VIEW OFFICE LISTINGS >
Retail
The first quarter 2019 vacancy rate in the Las Vegas community-neighborhood shopping center market was relatively elevated at 13.2%, up 10 basis points for the period following a 20-basis-points decline through 2018. At $22.54 psf and $19.05 psf, first quarter average asking and effective rents for local community-neighborhood center space represented gains of 0.9% and 1.0% for the period following increases of 0.9% and 1.0% through all of last year. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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