The Las Vegas and Reno real estate markets show mixed trends across sectors.

The 2024 Q4 market reports for Las Vegas and Reno show varied performance across hospitality, office, retail, industrial, and multifamily sectors, influenced by economic headwinds and rising borrowing costs. Hospitality sales declined significantly, with Las Vegas at $113 million and Reno at $32.7 million, while office markets saw modest rent growth but remained impacted by high vacancies and cautious investor sentiment. Retail demonstrated resilience with year-over-year rent increases, though elevated cap rates slowed sales, while industrial markets faced rising vacancies and slowing rent growth. Multifamily sales in Las Vegas reached $1.6 billion and $106 million in Reno, but high vacancy rates and economic uncertainty created a cautious investment environment across all sectors.

In today’s quickly changing environment, we remain ready to assist you with your commercial real estate valuation needs at any time.