RE: Real Estate Podcast

Ben Harang, REALTOR® (00:01.721)
Good afternoon, everybody. Welcome to another episode of RE real estate podcast. I'm Ben Horang with me is Clint Galliano. How you doing today, Clint?

Clint C. Galliano, REALTOR® (00:15.16)
I'm doing wonderful, Ben. How you doing?

Ben Harang, REALTOR® (00:17.615)
plan on doing terrific on a on a wednesday afternoon the sunshine in this it's not too hot weather's nice from the i'm doing good life is good what are we talking about today

Clint C. Galliano, REALTOR® (00:32.334)
Today we're going to be talking about the April transactional numbers for the City of Houma.

Ben Harang, REALTOR® (00:39.279)
the city of Homa. Alright.

Clint C. Galliano, REALTOR® (00:41.28)
It's the April market update for Homa.

Ben Harang, REALTOR® (00:44.143)
All right, we've done Lafourche and Terrebonne and now we're gonna do Homa.

Clint C. Galliano, REALTOR® (00:50.028)
That is correct.

Ben Harang, REALTOR® (00:51.257)
So whenever you share your screen, we can start looking away from the camera and start seeing what we're talking about and kind of have a conversation about it.

Ben Harang, REALTOR® (01:02.735)
All right. I am, I am. And just for those of y'all that are, that are watching, uh, I'm in Thibodeau, Clemson, Homer, and through the magic of something called Riverside, we look like we might be sitting side by side on occasion. Um, so that was, that was a little learning curve when that, when we first started doing this to, for us to adjust to that. But here we are. So, um, in April of 2025, um,

Clint C. Galliano, REALTOR® (01:02.752)
All right, are you seeing that?

Ben Harang, REALTOR® (01:32.515)
The market in Homa was squarely in a buyer's market, which means there's more than six months worth of inventory listed on the market. for however many units are divided into the available units, however many units are sold per month divided into the available units gives you the...

the what's the word i'm looking for clint

Clint C. Galliano, REALTOR® (02:02.306)
months to sell out the current inventory.

Ben Harang, REALTOR® (02:04.416)
Yeah, right, right. So we, a balanced market is six months and homeless sitting at 7.68 months. So it's, it's right outside of a balanced market. So it's, it's what it referred to as a, as a buyer's market. So a buyer may, may get a few more concessions from a seller to get a, to get a deal done according to this.

Clint C. Galliano, REALTOR® (02:33.102)
All right. A couple of other points is that the median sold price was $197,000. The sold to list price was 96%. So that means buyers got a 4 % discount off of list price, or that you could look at it as that the seller's overpriced by 4 % because it ultimately sold 96%.

of the original list price. And typically for the properties that sold in HOMA, it took them a total of, or a median days of 99 to sell from when they were listed.

Ben Harang, REALTOR® (03:18.542)
From list to close, 99 days is still not a terrible number. You know, it's a pretty good number, matter of fact. From the time the house hits the market to the time it closes is just under, what's that, four months? Just over three months. So about a month to go on the contract and 45 to 60 days to close. So that's about what it...

what the market is right now.

Clint C. Galliano, REALTOR® (03:50.37)
So that's not shabby. That means that inventory is moving. Not all of the inventory. Correct.

Ben Harang, REALTOR® (03:51.927)
No it's not.

The market's still active is what that means.

Clint C. Galliano, REALTOR® (04:00.896)
All right, next we're going to move over to median estimated property value.

Ben Harang, REALTOR® (04:07.79)
I'll let you take this one.

Clint C. Galliano, REALTOR® (04:08.014)
And this is, all right. So this is the estimated property values for what's on the market based on the automated valuation used by the Realtors Property Resource, which is where we get this data. And the median estimated value is $221,000. That's three tenths of a percent up from last month.

And over the last 12 months, that's up 1.1%. In the chart below, you can see comparing Houma to Terrebonne Parish to Louisiana to the national market. If you notice, the blue is Houma, the orange is Terrebonne Parish, the yellow is Louisiana, and the red is the national market.

Starting in about December of 2016, you can see that Terrebonne Parish and HOMA are following a very similar trend. Even more so after 2020, there's not much variation in them. And the main reason is that HOMA makes up the majority of Terrebonne Parish's sales.

Ben Harang, REALTOR® (05:26.754)
Right. And when we say HOMA, we talking about anything with a HOMA address. East side, west side, coming into Bayou Blue and Gray. So it's not just the carpet limits of HOMA. It's anything with a HOMA address. Just a point of clarification.

Clint C. Galliano, REALTOR® (05:49.954)
Yep. All right. New listings.

Ben Harang, REALTOR® (05:52.175)
What's next? All right new listings. I know this one The new listing median price, which means there is many houses listed above and below 235 235,000 98 properties were listed at an hour a median square footage dollar per square foot of 143 dollars per square foot And it's it's been staying pretty static

It has bumped up and down over time since 2020, but the average dollar per square foot or the median dollar per square foot has risen somewhat, but it's on a slow incline with some individual variations.

Clint C. Galliano, REALTOR® (06:38.528)
Yeah, there we go. That's the chart for dollars per square foot.

Ben Harang, REALTOR® (06:42.534)
You go and look at December of 2021. Everybody remembers what happened in September of 2021. And that's the result of you see a little peak before that. And then that must be when the houses that were damaged in Idaho sold as damaged properties.

Clint C. Galliano, REALTOR® (06:47.096)
Boom.

Clint C. Galliano, REALTOR® (07:05.525)
Yeah, probably so.

Ben Harang, REALTOR® (07:05.71)
I'm gonna let you take March of 23, Clint. I don't know why that one's there.

Ha ha ha.

Clint C. Galliano, REALTOR® (07:11.788)
March of 23 is when we had the interest rate skyrocket. And everybody went, whoa.

Ben Harang, REALTOR® (07:17.615)
right, right.

Whoa, put the brakes on. You could smell the rubber burning from, from slamming the brakes on.

Clint C. Galliano, REALTOR® (07:28.622)
Yep. And then we had another similar effect at the end of 23 going into 24.

Ben Harang, REALTOR® (07:36.642)
Yeah, that was a continuing rise in interest rates.

Clint C. Galliano, REALTOR® (07:41.74)
Yep. So.

Ben Harang, REALTOR® (07:43.439)
So, just as an aside about interest rates, Clint, I know we, you and I talk about it a lot, but I don't know how many people hear it. The, the interest rates go up and down, 7 % in my mind is a, is an equilibrium rate. people today don't think that, but if you buy something today, cause life, life happens. If you need the house, go ahead and buy the house you qualified for, at the best interest rates you can get at the time.

and then the interest rates may go back down, you can refinance it. I'm not going to get into what some people used to call that, but by the house you need that you can afford based on the interest rate. And if the interest rates go down, refinance it. That's enough preaching, Clint. Go ahead.

Clint C. Galliano, REALTOR® (08:34.754)
Yeah, well, I'm going to preach just a little bit more than we can't. But, you know, we feel it's we see a lot of stuff on social media and TikTok quote unquote gurus. You know, you hear people say, well, what is it they say? Date the raid and marry the house or something like that. And yeah, well, that figure we can say it.

Ben Harang, REALTOR® (08:37.838)
We can't help ourselves.

Ben Harang, REALTOR® (09:00.248)
That's what I was not going to say, but yeah. Okay. Marry the house date to rate.

Clint C. Galliano, REALTOR® (09:04.802)
That's, it's yeah, marry the house date to right. you know, and it's, it's accurate, but it's not everybody's expecting, it's going to get better. We've kind of, we focus more on a short-term memory than looking at the overall, things that have gone on in the past. So.

Ben Harang, REALTOR® (09:33.923)
Mm-hmm.

Clint C. Galliano, REALTOR® (09:34.702)
People very, very seldom think about how things used to be 10 years ago. For 10 years, we've had sub 5 % rates up until the last year and a half or so. So they feel that this is ridiculous interest rates, but it's not. This is actually, we're still below the 20 year average.

Ben Harang, REALTOR® (09:48.942)
Mm-hmm.

Ben Harang, REALTOR® (10:00.492)
Mm-hmm. Mm-hmm.

Clint C. Galliano, REALTOR® (10:02.67)
It's more a matter of figuring out what you can handle. Like Ben said, if you need the house, figure out how to get the house you need and you get it. And then if you can find the opportunity to refinance, you refinance. Or you figure out how to pay a little bit more down on the principal to cut down the term of the loan so that you're paying for a shorter amount of time and that saves you money on interest also. All right, backslash rant, I'm getting off my soapbox.

Ben Harang, REALTOR® (10:31.47)
All right, who's up on the next one?

Clint C. Galliano, REALTOR® (10:35.054)
All right, we're talking about new listings, all right? So, oh wait, didn't we just talk about that? Yeah, we did. We covered, we're going on to the next one. Active listings, all right, so we talked about new listings, and this is the total active listings that are for sale. If you look at this, the new listings and the average listings, the median list price is $235,000. That's kind of strange.

Ben Harang, REALTOR® (10:38.958)
Alright.

We did. We go on to the next one.

Ben Harang, REALTOR® (11:00.27)
That's amazing.

doesn't i don't know what it means but it just is is ironic that is this exact same number from ninety nine listings to three hundred and sixty eight listings

Clint C. Galliano, REALTOR® (11:13.07)
Well, what it tells me is that we've got a lot of, well, I say a lot. We say that the median properties that are listed are similar, at least at a price point. That the new listings coming on and the listings that are already there, the ones that are in the middle are at this price point and at the same price point.

Ben Harang, REALTOR® (11:26.658)
Yeah. Yeah.

Ben Harang, REALTOR® (11:37.038)
When I see the word media, I think of the bell curve from statistics class. I'm not sure that's the right place for it, but that's what it brings to mind.

Clint C. Galliano, REALTOR® (11:49.762)
Yep, that median is right there in the middle.

Ben Harang, REALTOR® (11:52.662)
Right, the apex of that curve.

Clint C. Galliano, REALTOR® (11:56.098)
All right, so 235 is the median, that's up. Number of properties, we'll look at the chart. We're at 368, so you can see from IDA, we've kind of come back pretty well.

Ben Harang, REALTOR® (12:10.35)
We still, yeah, we have recovered from Ida.

Clint C. Galliano, REALTOR® (12:14.382)
Yeah, especially inventory wise. And you can see starting in April of 2020, so that's at the beginning of COVID, inventory dropped and was actually a steady drop until we ran into IDA. And then we had that turnaround and started climbing back up. It's kind of weird. I never looked at the number of active listings on the chart like this, but that's pretty interesting.

Ben Harang, REALTOR® (12:16.76)
Mm-hmm.

Ben Harang, REALTOR® (12:33.71)
huh.

Ben Harang, REALTOR® (12:41.942)
Well, nobody, nobody was listing it. We were selling a few, but nobody was relisting properties at that point. cause they had to be repaired. Right. Right. And the, and the people that, unfortunately the people that, that bought houses at the two and three quarter percent rate, they got damaged, may have had to refinance those houses. you know, and, having that, having that low rate ties you to the house you're in.

Clint C. Galliano, REALTOR® (12:46.932)
Right. Nobody wanted to get out of their house.

Ben Harang, REALTOR® (13:09.422)
And I tell people, better, you better like the house you're in at two and three quarters because you're not going anywhere. And then life hits them in the face and all of a sudden they need to make a move and they're faced with a 6 % rate or whatever the rate would be at the time. Um, so just cause you get the rate today, that mean you're to have it for 30 years.

I'm off my soapbox, mate.

Clint C. Galliano, REALTOR® (13:31.054)
That's true. All right. Yeah, we're gonna kick this old box out the door for now. Median days listed is 100 for everything on the market that's listed. New listings, oh wait, we don't have a median days because new listings are new listings. We had this discussion. Price points, $135 a square foot. It's a little bit lower overall. That means that we've got some

Ben Harang, REALTOR® (13:48.108)
Right. Right. We did.

Clint C. Galliano, REALTOR® (14:01.464)
Properties listed that have been on the market for a little while that are at a lower price point versus the square footage Total volume listed as a hundred and sixteen million one seventy five six forty eight Hey, I said that without stumbling. I'm proud of that

Ben Harang, REALTOR® (14:17.676)
You did, you did. would, I would call that $116 million and be done with it, but that's just me. I understand you let you like, you like the tech side of it. No doubt.

Clint C. Galliano, REALTOR® (14:22.414)
That's right. I like to get technical.

Clint C. Galliano, REALTOR® (14:33.118)
All right, so new pending listing. So these are properties that have gone under contract, which means that someone has made an offer and the seller has accepted. How about you talk about this one, Ben?

Ben Harang, REALTOR® (14:46.894)
So the median price you can see is going down now. So the 235 was for the listed properties This is for the property. This is the list price for the properties that went under contract So it's a little bit less at just under two hundred and eleven thousand dollars, but 70 of them went under contract and they only took 31 days to go under contract as far as the median days in RPR and at median that median price as a

The $142 that's a little bit higher than the previous slide at 135. And then the volume under contract is $20 million. So that's just new pendings for the month of April. And then Clint's going to take the next slide for the pending listings, the total pendings.

Clint C. Galliano, REALTOR® (15:39.15)
Yeah, so on this, we have 70 new listings hit the market in April.

Clint C. Galliano, REALTOR® (15:50.638)
I'm sorry, 70 new properties go under contract, but we had...

Ben Harang, REALTOR® (15:57.743)
98 you passed it up.

Clint C. Galliano, REALTOR® (15:59.982)
Yep, I did. We had 98 listed on the market.

Ben Harang, REALTOR® (16:04.526)
Right. So that means, let me take this. 98 new properties were listed and 70 went under contract. So that means there's 28 more properties available in April than they were in March, not accounting for the stuff that expired. But the inventory is coming on the market faster than we're selling it, which is why we're in the buyer's market.

Clint C. Galliano, REALTOR® (16:08.344)
Go ahead and run with it, Ben.

Clint C. Galliano, REALTOR® (16:32.302)
that's the bottom line. right, pending listings overall. So not just what contracts that were written in April, which is the new pending listings. So this is overall listing, so this means that this was under contract prior to the month of April. Median list price, a little bit over $206,000 in total of 98.

And so the total of 98, that means that the majority of them obviously went under contract in April.

So there's only a few holdovers, but we've got 98 pendings.

and 98 new listings.

Ben Harang, REALTOR® (17:24.878)
that's total pending versus 98 new in April.

Clint C. Galliano, REALTOR® (17:28.216)
Correct. So it's a non-meaningful correlation.

Ben Harang, REALTOR® (17:35.022)
It shows a consistency is what it shows.

Clint C. Galliano, REALTOR® (17:41.134)
So pending listings, median days on the market is $84 per square foot, $138. And there's 24, almost 25 million that are under contract waiting to close for the month of April. This is a good bit of volume. Month over month, that's almost 15 % more than there was in March.

Ben Harang, REALTOR® (18:09.294)
Mm-hmm.

Clint C. Galliano, REALTOR® (18:11.118)
And then sold numbers, median sold price was $197,000. There were 56 properties closed in Houma. And then this is the numbers that we got from the first chart we looked at. 96 % sold to list price, 99 days on the market, $135 per square foot. And it was 14 million.

almost $15 million in volume. Volume is the total of the sale price of all the properties sold. So if you hear us use that term, that's what that means.

Ben Harang, REALTOR® (18:52.684)
You can, you can see running through the slides, the median dollar per square foot and that's a dollar per square foot of living area. And we can do the whole, whole podcast on the definition of living area square footage. And it's great debate on what, what is, what should and should not be included, but it's the number runs from about 135 to,

A high of, I think Clint 143, 148, somewhere in the mid 140s. Uh, so there's about a $10 range. So just a down and dirty estimated value is apply $140 to your house and see what happens. Uh, but make sure you know how to measure for square footage. So that's just a tip we're giving away today. Next slide, Clint.

Clint C. Galliano, REALTOR® (19:23.877)
Somewhere around there, yeah.

Clint C. Galliano, REALTOR® (19:43.906)
Yep.

And just to add to that tip, if you're selling a born that's been gutted, that dollar per square foot won't apply.

Ben Harang, REALTOR® (19:58.967)
Right, right. This is for a finished house.

Clint C. Galliano, REALTOR® (20:03.15)
All right, month supply of inventory. And this is the other part of what that first supply pulled from. It's just showing the.

five year trend for inventory supply. 7.68, again, December 21, there wasn't a whole lot of inventory and then it slowly climbed back on a couple of dips and peaks. But we're kind of trending right now definitely in this buyer's market.

Ben Harang, REALTOR® (20:30.733)
Yeah.

Ben Harang, REALTOR® (20:35.822)
And from a, if you're in the market for a house, it's as good a time right now to buy as it's been in a while. back in December 21 era, people were making offers, not subject to appraisal, not subject to inspections, not subject to anything just so they could get into a house. The pressure was so high because there was not enough inventory. that six month balance is good for buyers and sellers.

if you're more than six months, it's better for the buyer. So with the interest rates where they are, still think it's a outstanding time to buy a house. You can get some concessions from the seller that you typically would not be able to get. And then if the rate goes down, you can refinance. So again, that's just a, that's a sales pitch. know it sounds like one, but that's the reality we live in today.

Clint C. Galliano, REALTOR® (21:34.562)
Pretty much. Yeah.

Ben Harang, REALTOR® (21:34.766)
It is what it is. The truth is the truth and that's what we know how to talk about. So, looks like that was the last slide. All right.

Clint C. Galliano, REALTOR® (21:44.542)
So that was the last slide. So we go over this stuff to help you understand what's going on in the market and to be able to maybe give you some answers to things that you can't find answers to, or maybe things that you didn't know you needed answers to. If you've got other questions, don't hesitate to reach out to one of us.

We're here to help you. We help our jobs or to sell real estate, that's what everybody thinks. But in reality, we're here to help the public and our clients. Obviously, we do this as a job, so we need to get paid. We'll give some, how do we call that, ministerial acts?

Ben Harang, REALTOR® (22:35.502)
Mm-hmm.

Clint C. Galliano, REALTOR® (22:43.766)
We can give you some information, but if you need a lot of information or help with buying or selling, then we need to look at having a signed agreement to work together. But.

Ben Harang, REALTOR® (22:57.934)
And you want to, you want to hear something funny? Excuse me, Clint. Listen to the trailer of the videos that Clint did, about we are real estate agents, but unless there's paperwork to the contrary, we're not your real estate agent. so right now we just talking about it and it's funny the way Clint has it set up a chuckle every time I hear it. but we just, we, we just two guys talking about buying and selling real estate right now. We, we happen to be real estate agents. We realtors.

Clint C. Galliano, REALTOR® (23:01.368)
Sure.

Ben Harang, REALTOR® (23:28.242)
we help people buy and sell real estate every day and we take, take time out of our week to do these podcasts and, hopefully you get something out of it. So if you do go ahead and share, like, comment, if you have any comments, can drop them in the, in the description or email them to us and we'll address them in a, in another, in another episode. So we probably ought to start saying that in the beginning of the videos.

Clint C. Galliano, REALTOR® (23:57.486)
Yeah, well, it wouldn't hurt. you know, ultimately, we were hoping that people are listening through and getting the information. Main thing to remember, you can listen to us on any podcast app. You can watch us on YouTube and Spotify. You can find us at re real estate podcast.com. That's once re real estate podcast.com.

twice. rerealestatepodcast.com. That's three times. So that should be stuck in your head now. So go to rerealestatepodcast.com. You can listen to individual episodes. You can click on the link to our YouTube channel. You can ask us questions. You can find Ben and I's contact info. You can find Ben and I's individual websites. Anything you need.

Ben Harang, REALTOR® (24:52.494)
All right, it looks like that's a wrap, Clint. I'm starting to enjoy this more as we do it, get a little relaxed a little bit more. So until next time, y'all have a great week.

Clint C. Galliano, REALTOR® (25:06.924)
Have a good one, Dan.