RE: Real Estate Podcast

Ben Harang, REALTOR® (00:14)
Good afternoon everybody. Welcome to this edition of RE Real Estate Podcast. I'm one of the hosts Ben Harang with my co-host Clint Galliano. Good afternoon Clint, how you doing today man?

Clint C. Galliano, REALTOR® (00:28)
You're doing wonderful, Ben. How you doing?

Ben Harang, REALTOR® (00:31)
Good, I'm doing terrific. On this Wednesday afternoon, it's hot, no rain yet. Looks like we're getting in a couple of days of just dry heat around the 4th of July. So looking forward to a few days, maybe get out on the water and do some things. So anyway, we're going to talk today about market trends in Lafourche and Terrebonne parishes.

We go ahead and start with the fusion before we get started. I forgot We if you get any value out of these podcasts please like subscribe and comment to help us grow the Grow the podcast because Clinton. I think we have some valuable info that we talk about we just two guys in south, Louisiana that Help people buy and sell real estate every day. We talk about real estate in black and white

So if you get any value out of it, go ahead and give us a hand and try to help us expand our reach. Okay, that's our commercial. Clint, we're gonna start off with LaFouche today.

Clint C. Galliano, REALTOR® (01:37)
We're starting off with Lafourche Parish.

Ben Harang, REALTOR® (01:39)
All right.

Clint C. Galliano, REALTOR® (01:41)
Everybody should be able to see the screen.

Ben Harang, REALTOR® (01:45)
for those that watching the video. So ⁓ just to get started, a balanced market ⁓ that's not a buyer's market or a seller's market is based on an inventory of six months. And that's how many properties on the market divided by how long, how many sales we have a month divided into.

Clint C. Galliano, REALTOR® (01:48)
This is true.

Ben Harang, REALTOR® (02:13)
how many properties on the market to see how long it would take us to sell that inventory if we had nothing going on or off. So Lafourche is just over a balanced market at 6.44 months. And there's some pockets in Lafourche that have a little higher months of inventory and some that have a little less. So with Lafourche's geography, it changes by location, but we'll leave that one alone. That's enough said about that.

So the list price, the close price is just under 98 % of the list price. means buyers are getting basically a 2 % average off of the list price. The median days on the market, which means it's 67 is, that's the midpoint of the days on market for those that closed. That's just over.

two months and the median sole price is $231,000. So we'll let Clint, Clint you take the next one.

Clint C. Galliano, REALTOR® (03:20)
All right, and just a point to make about the market numbers. The inventory is down 3 % month over month, and the sold to list is down a little bit over a percent month over month, and the median sold price is down 1.6 % month over month. Next, we're looking at estimated property value.

And so this is for properties in the parish. Estimated property value, median property value is 229.8. ⁓ And that's down a tenth of a percent over last month. That's still up a half a percent over the last 12 months.

And if you're watching the video, we've got the chart that's showing Lafourche Parish versus Louisiana versus the national numbers. All right, moving on to new listings. Take that away, Ben.

Ben Harang, REALTOR® (04:18)
The new listing, and this is for May of 2025, the new listing median price is $224,000. There were 110 properties listed in May in Lafourche Barrage, which is a 6.8 % increase month over month. The dollar per square foot living area, the median dollar per square foot is $146 per square foot, which is a 5%.

Increased month over month, which means may of 2024 versus may of 2025 total volume of 27 million two hundred thousand dollars, which is a decrease of 1.4 percent and The median living area square footage is 16 hundred and eight square feet, which is down 2.5 percent so everything's pretty pretty flat some things are up some things are down but

It's kind of where we were a year ago this month.

Clint C. Galliano, REALTOR® (05:21)
All right, so that was new listings. Next, we're going to look at active listings. So those are listings that were on the market prior to the month of May. And in addition to the new listings on the month of May, median list price for everything that was active on the market in the month of May was $220,000. That's down 1.6 % month over month. 396 properties listed for sale.

That's down 1 % month over month. Median days in the system, 3.5 % down month over month. It's a total of 83 median days in the system. Median dollars per square foot is 133. That's a little bit up at 1.5%. Total volume listed.

is 109,000,500 and that's down 7 tenths of a percent month over month.

So that's pretty interesting. The median living area is 1,779 square feet. That's down 1.2 % month over month.

Ben Harang, REALTOR® (06:37)
Okay, new pending listings. The median list price of the properties that are listed is $215,000, which is down 8.5 % month over month. And these are the properties that are pending that have an accepted purchase agreement on it. There's 89 properties under contract, which is a 45 % increase month over month from May of last year, which is huge. The median days.

on the market is up 22 % to 59 days. The median square foot price per square foot is $146. That seems to be pretty consistent. That's up 0.7%. Total volume on the contract is $20.6 million. It was a median living area of 1,568 square feet, which is down 8.9%.

15 and some change to 17 and some change on the square footage of living area. But that's still within, it's pretty steady.

Clint C. Galliano, REALTOR® (07:44)
All right, pending listings. So again, this is everything that was under contract in the month of May. So that's what was already under contract going into May in addition to the new listings that went pending in the month of May. Median list price, 223,612. That's down almost a tenth of a percent.

Total number of properties that are pending, 126. That's up just under 20%. Median days on the market, 76. That's up 46%. Median dollars per square foot, 148. That's up 2.10 % or 2.1, if you want to read it like that. I just imagined the zero there.

Total volume that's pending 32 million a little bit over 32.1 million and that's up 16 and a half percent month over month and the median living area or living square footage is 1580 and that's down 15.7 percent month over month so that's telling me that less square footage is going under contract per house.

Ben Harang, REALTOR® (09:09)
which means smaller houses.

All right, the sold listings in May. This is everything that closed May 2025. Median sold price is $231,250. We closed on 62 properties. The sold to list price percent is 97.87%. So just over a 2 % discount. Median days on the market is 67.

median square foot is $1.36, $136 per square foot. We had been seeing 146 on the listings side. The ones that are closing, the median is 136. So there's a trend there. And then the total sales volume was $14.5 million for the month of May in Lafourche Parish.

Clint C. Galliano, REALTOR® (10:04)
All right. so listings is next we'll go into month supply of inventory. And so that's a reiteration of what we opened with month of May, we had 6.44 month supply of inventory. Again, that's if we didn't take on any new listings, it would take us at the current rate we're selling properties.

6.44 months to sell off the inventory that's currently for sale. That's down 3 % from last month and the 12-month change is down 1.8%.

Ben Harang, REALTOR® (10:43)
But it's trending down to with six months being a balance. So LaFouche is essentially in a balanced market.

Clint C. Galliano, REALTOR® (10:44)
All right.

Yeah, which is kind of what you want, but you know, knowing what we know about, like you mentioned, the pockets, ⁓ we know that that's not, even though this is the total parish, ⁓ we know that's not accurate across the parish. There's some areas that don't reflect this.

Ben Harang, REALTOR® (11:11)
you

Clint C. Galliano, REALTOR® (11:11)
Alright, we'll get rid of this screen for a second while I pull up Terrorbone Parish.

Ben Harang, REALTOR® (11:17)
So now we're going to go to Terrebonne while Clint pulls it up and look at the same numbers for Terrebonne Parish. And you would think that they would be significantly similar. And I think you might be surprised at some of the differences between Lafourche and Terrebonne.

Clint C. Galliano, REALTOR® (11:32)
Right. So in May, again, for Terrebonne Parish, ⁓ if you're watching the video, you can see from the chart that we're squarely into a buyer's market. Key details, we've got 8.65 months of inventory. That's up almost 4%. The sold to list price in Terrebonne Parish is 95.1%.

So that's a little less than 5 % discount off a list price. That is down almost 2.3 % month over month. Median days on the market is 55. That's down almost 15.4 % month over month. And the median sold price.

is $204,000 and that's a little bit over 2 % month over month.

All right.

Ben Harang, REALTOR® (12:29)
Okay,

the median estimated property value in Terrebonne Parish is 213,000, which is down 1.2 % from last month and 1.3 % down from 12 months ago. So there's a slight tick down in the median estimated property value in Terrebonne for the month of May.

Clint C. Galliano, REALTOR® (12:55)
All right, new listings in Terrebonne Parish. Median list price is $215,000. That's a little bit over 1 % month over month. There were 118 new properties listed in Terrebonne, and that's a little bit over 10.5 % month over month. I'm sorry, down 10.5 % month over month. Median dollars per square foot is $136.

and that's down a little bit over 4 % month over month. The total volume in new listings was $32,779,064 and that's down a little bit over 12 % month over month. The median living area.

is 1705 square feet. That's a little bit, that's up a little bit over 4 % month over month. So kind of sounds like new listings are slightly larger homes than what it's been in the past. All right.

Ben Harang, REALTOR® (14:01)
does.

right, the active listings. The median list price is $235,000 in Terrebonne. There are 547 active listings in Terrebonne Parish, an increase of 2.6 % month over month. The median days on the market is 97, which is actually down 6.7%. The median square footage is 1.

39 and that's on the listing Not on the closed the total sale of total volume is 171 million dollars that's available and actively listing with a median living area of 1793 square feet

Clint C. Galliano, REALTOR® (14:50)
All right, new pending listings. So these are listings that went under contract in May. Medium list price is $215,000. That's a little bit over 5 % month over month. There were 59 properties that went under contract, and that's down 33 % month over month. So that's a full third less than what went under contract the previous month.

median days in the market was 79. That's 182 % increase over the previous month. Median dollars per square foot was 143. That's up 7 tenths of a percent. Total volume for new listings.

our new pending listings, I'm sorry, new listings under contract, it's 13 million, almost 13 and a half million. And that's down a little bit over 43 % month over month. Median square footage that went under contract is down 4%. That is, that number is 1,600 square feet is the median for living area.

Ben Harang, REALTOR® (16:05)
And I'm not sure how we got 182 % increase in the days on the market. It's only 79 days.

Clint C. Galliano, REALTOR® (16:12)
I think the previous month's numbers ⁓ were just kind of off. Maybe a bunch of cash sales or something or stuff that went quickly.

Ben Harang, REALTOR® (16:20)
Yeah

The 79 days is not long from list to close Okay pending listings in tariff one is the median list price is two hundred nine thousand nine hundred dollars There's a hundred eleven Properties pending in may median days on the market is thirty A median dollar per square foot is 139

Clint C. Galliano, REALTOR® (16:24)
Right.

Ben Harang, REALTOR® (16:50)
dollars per square foot and that's on the list price. We don't know what those houses are going to close for. Maybe closer to 135 or 136 a square foot. And then the total volume pending is $27.6 million with a median living area of 1,691 square feet.

Clint C. Galliano, REALTOR® (17:13)
All right, sold listings in May. Median sold price is $204,000. That's up a little bit, a couple of percent. There were 63 properties closed. That is down almost 25%. The sold to list price we mentioned earlier is 95, a little bit over 95%. And that's down 2.3 % month over month.

median days on market was 55. So that's down 15, almost 15 and a half percent month over month. Median dollars per square foot on what sold in May is 146. That's to, well, that's pending. That's not necessarily what's, that's what went under contract on the other end. This is what sold. So next month we'll tell the tale of the tape.

Ben Harang, REALTOR® (17:56)
I mean, a lot.

Yeah. Now this is closed. Yeah. Right.

Clint C. Galliano, REALTOR® (18:10)
And total volume sold was a little over $15 million. That is a 23 % drop month over month based on ⁓ the numbers that we saw.

Ben Harang, REALTOR® (18:24)
So the month supply of inventory, this is where we get the 8.65, ⁓ which is the available inventory divided by the number of units sold a month. How long it would take us to sum up. ⁓ Lafourche was 6.44, I think, and Terrebonne is 8.65. So Terrebonne, like Clint said, is squarely in a buyer's market. The change over the last month was

An increase of 4 % of the month supply of inventory in over the last 12 months was 12.3%. So it was probably closer to seven months last year as opposed to a 8.65 this year.

Clint C. Galliano, REALTOR® (19:11)
And what that's telling me is more people wanting to sell. ⁓ We don't have any kind of numbers to show for it as far as how many buyers are in the market. ⁓ We could probably extrapolate it from numbers that we do have, but just in my personal experience, it seems like we have a similar amount, maybe even slightly more buyers in the market right now.

But we also have a lot more sellers in the market in Terrebonne Parish that are ready to sell. And that's showing that's why we've got the more months of inventory.

Ben Harang, REALTOR® (19:50)
And nationwide is, don't know how they do this, but there's a claim that there are 500,000 more properties available for sale than there are buyers in the market. And it's the first time that number has ever hit 500,000 units more than there are buyers for it. ⁓ So the real estate industry is still ⁓ not completely recovered. There's pockets.

around the country and locally that are doing better than others. We can do a whole podcast on segments in Lafourche and segments in Terrebonne because essentially North Terrebonne and North Lafourche have the healthiest real estate market. And as you get further south in both parishes, the health of the market decreases. But because of the geography,

We put everything together. Tarabon has five, Lafourche has one. So there's more property in South Tarabon probably than there is in South Lafourche. So there's just a whole lot of things that go into the health of the real estate market. And essentially, my world is North Lafourche, North Tarabon, a little bit into assumption. And that's the...

the areas with the healthiest real estate market right now. Those are truly in a seller's market. So the demand for those areas are exceeding the supply as opposed to what we see parish-wide in both Lafouche and Terrebonne.

Clint C. Galliano, REALTOR® (21:21)
I cover a little bit more diverse area. I cover Summa Tepidu. I cover HOMO. I cover Chauvin. I cover Gallaghan or Golda Meta or La Rose. we see it in number of buyers available and days on market for properties that are listed.

is just the reality of the current market.

Ben Harang, REALTOR® (21:48)
And having said all of that, if you want to sell your property, you certainly can. I recently listed and closed a house in Chauvin where there were eight houses available in the subdivision and ours was the last one listed in the first one to sell. And that's a combination of the condition, age and the price on the property. And the conversation I had with the sellers was,

If you want to sell it quickly, this is the price. If you want to sit on it and see what you can get, then we can start off here, but we'll probably have to come down anyway. And they made no bones about it. They were not interested in holding the property. Their lives had changed. So we priced it to be the next one to sell. And thankfully we found the buyer and had it closed, I think in 27 days from list to close. And there were a couple of...

All starts in there from the beginning. So it closed it closed in about three weeks when when South Terrebonne is is struggling in the real estate market. So if you want to sell it, you can is is what I'm trying to convey. If you if you're realistic on today's pricing.

Clint C. Galliano, REALTOR® (22:57)
Yep. All right. So if you like this information, these market update episodes are going to be always released off cycle. Our normal cycle is to release episodes on a Friday. So these will be released off cycle. Give us a like, share, comment, tell your friends about it. Let us know what you think. If you've got a question, go to rerealestatepodcast.com.

You can listen to the episodes, can go to the YouTube channel from there and watch videos, you can ask a question, all the things.

All right, Ben.

Ben Harang, REALTOR® (23:29)
All right.

Good job, Clint. Another one's in the can.

Clint C. Galliano, REALTOR® (23:32)
All right.

All right. Thank y'all, everybody. We'll talk to y'all later. Bye-bye.

Ben Harang, REALTOR® (23:36)
Hell yeah, man.

Thanks.