RE: Real Estate Podcast

Clint C. Galliano, REALTOR® (00:14)
Good afternoon and welcome to another market update from the RE Real Estate Podcast. I'm your co-host, Clint Galliano and with me is the other co-host, Ben Harang How you doing, Ben?

Ben Harang, REALTOR® (00:27)
Clint, I'm doing terrific, man. How you doing today?

Clint C. Galliano, REALTOR® (00:30)
I'm doing wonderful.

Ben Harang, REALTOR® (00:32)
Good to hear. So we're do a little market update today.

Clint C. Galliano, REALTOR® (00:37)
market update. I'm going to get my screen shared here.

Ben Harang, REALTOR® (00:38)
Right.

And we talked about the real estate market in the Bayou board of realtors, which officially is Lafourche Terrebonne, Assumption and St. Mary parishes.

Clint C. Galliano, REALTOR® (00:49)
All right, so what.

Ben Harang, REALTOR® (00:50)
And

this is limited to residential, by the way.

Clint C. Galliano, REALTOR® (00:53)
Yeah, this is only residential property. These are the stats for the Bayou Board of Realtors. ⁓ We've got the month of June and then year over year and year to date, or year over year change and then year to date change year over year. So why you go ahead and kick it off, Ben.

Ben Harang, REALTOR® (01:16)
So we six months into the 2025 and, um, the, the new listings are up, uh, both for the month and end year to date, uh, pending sales are up, um, closed sales are flat within one of each other. Uh, days on the market are up about 16 days longer from 78 to 94 days. So the market has slowed a little bit.

but not significantly. The median sale price is down by $5,000 or 2.3%. Average sale price is up from $229 to $233. Percent of list price received is down from $96.7 to $95.6, and that's the original list price to what the property ultimately sold for.

Inventory of homes is up from 843 to 899. The affordable housing index is up 2.5%. And a month's supply of inventory goes from 7.4 to 7.8, with six months of inventory being a balanced market. So the buy-your-board as a whole is trending as a buyer's market.

with pockets of sellers market, depending on where within the buy board you are.

So that's the first one Clint.

Clint C. Galliano, REALTOR® (02:49)
Yeah, interesting thing to note is that the average sale price ⁓ year to date is actually up a little, which is, that's kind of interesting. ⁓ Same thing, and then the... ⁓

list to sale ratio is down, which that's I think that's across the board. ⁓ So those are interesting. Now new listings ⁓ for June, we're up 13. That's a 6.8 % increase year to date. We're up 5.4%. ⁓ You know, so we're still getting a bunch of people's listing in the board area.

Ben Harang, REALTOR® (03:15)
Mm-hmm.

Clint C. Galliano, REALTOR® (03:38)
Closed sales like you had mentioned one off. So those are staying pretty steady and Then ⁓ year-to-date it's within a couple of each other. So that's roughly about the same

Ben Harang, REALTOR® (03:54)
Yeah.

And the reason that the months of inventory increases as we have more listings on the market and we selling approximately the same number of listings, it would take us longer to sell more listings.

The median sale price, hadn't talked about this one. This is one of my favorite ones. I'm going to take this one, Clint. If you look in, we have two lines. One is the state and one is the Bayou Board of Realtors. it generally tracks with each other. We're just lower than the state of Louisiana because we don't have the metropolitan areas. But this is the median sales price, which means whatever price it is, are equal number of sales on higher and lower than that particular price.

Clint C. Galliano, REALTOR® (04:09)
Alright.

Alright.

Ben Harang, REALTOR® (04:39)
It's not the average, it just kind of gives you an idea of where most of the home, what price most of the homes are located at as opposed to high or low value skewing the average price. So that's why we use the median sales price.

Clint C. Galliano, REALTOR® (04:57)
Yeah, and then talked about different markets or micro markets within the Bayou Board area. We'll jump over and take a look at Homa and Tibidou for ⁓ inventory. Let me pull those up.

Ben Harang, REALTOR® (05:19)
And we chose, we choose home Antibodal cause that's the, that's the biggest population in Lafourche and, and Terrebonne with, with one zip code, which is how we do it.

So if you're not from home in Tibidoro, don't slam it too much. just, it gives the biggest overall view.

Clint C. Galliano, REALTOR® (05:33)
Now, so in June, Houma, Louisiana had 8.42 months of inventory. And again, the months of inventory is that we don't get any new listings. It would take just under nine months, a little over, a little under eight and a half months to sell off the current inventory. The list to, sold to list price is 96.6%.

median days on the market is 30 days and the median sold price is $220,000. So compared to the overall board number of 7.8

that gives us a little bit better idea of why we're looking at that. Home itself is a little bit higher. So that gives you a rough idea of why that's so. And now I'm going to switch over and show Tibbido and I'll let Ben talk about Tibbido. As soon as I get it back up.

Ben Harang, REALTOR® (06:50)
one of those control things we were talking about.

Clint C. Galliano, REALTOR® (06:53)
That's right. I got to be in control.

All

Ben Harang, REALTOR® (06:56)
Okay,

so this is Tibbetto and by Tibbetto we're talking about essentially North Lafourche Parish with a 703.01 zip code which runs from

Saint below the St. Charles Bridge to assumption parish line into assumption parish all of the six war check Bay and actually part of terrible in shriever. So the median sales price is $247,000, which is crazy to me. Um, the, the months of inventory is only 4.6 months, uh, with a balanced market. If you look at the market type,

If you watch and you can see us leaning towards a seller's market and the sold to list price ratio of 98.8 indicates it's a, it's a seller's market is closer to, ⁓ full list price than the rest of the board is 45 days in RPR on the market is, ⁓ is, is really how long it takes to close a loan sometimes. So it means they're going under contract quickly.

the median the median sold price let's see the median property value is 247 the median sold is 227 so maybe you can explain that one Clint

Clint C. Galliano, REALTOR® (08:19)
Well, that median property value is an estimated value, so that's an automated valuation. But what it's actually selling, the median actual sold price is $227.

Ben Harang, REALTOR® (08:22)
Okay. All right. Okay. Got it.

Yeah. So we, Clint and I were talking about these stats before we started recording. If, if you think you want to deal, there's probably more flexibility in the homo market, into, into going into South Terrebonne than there is in North Terrebonne, North Lafourche. ⁓ if you, if you sell in a house in North Lafourche, you probably positioned pretty good.

There's still a lot of buyers wanting to buy in North Lafourche. There's few buyers and more options in Homa in South Terrebonne. So if you...

Clint C. Galliano, REALTOR® (09:11)
wouldn't say

that there's fewer buyers, it's just that there's more listings.

Ben Harang, REALTOR® (09:16)
Okay. Relative to the listings. so if, if you can, if you get the kind of person that, that wants to get a deal, you, you might be better served being in the, in the home of terrible market. If, if you need to be in the typical market, you need to find the right agent to be positioned to find the right house for you at the right price.

Clint C. Galliano, REALTOR® (09:19)
Yeah.

the right price.

Ben Harang, REALTOR® (09:42)
The price is right. Bob Barker showing my age. ⁓

Clint C. Galliano, REALTOR® (09:47)
to it.

So ultimately, it's like, how does the joke go? What's the answer you get when you ask a real estate agent if it's a good time to buy? It's always a good time to buy. It's always a good time to buy depending on your goals and your financial situation. So like Ben said, if you want to get a deal, looking for a deal,

you may have a better chance in the home area. If you've already got property in the Thibodeau area, you might be able to get a premium for that. ⁓ Because of the lack of inventory in Thibodeau, you have a better chance of selling. And again, the caveat on that is it has to be in good condition and marketable condition.

Overall, that's your ⁓ market update for June, and we're going to continue to try and do these as they come out every month. Let us know if you like this slightly different format. We'll keep doing this this way. And if you got any questions, don't hesitate to go to rerealestatepodcast.com, or you can subscribe to the audio or go to the YouTube channel from there.

and subscribe to the videos, leave a question, ask a question, like, share, comment, invite your friends, all of that good stuff.

Ben Harang, REALTOR® (11:21)
You, my mom's and your papa's too. Not just your friends. There you go. There you go. And you, and you knocks and you taunts.

Clint C. Galliano, REALTOR® (11:24)
them too. And your nanans and your paras.

Yep. All right. Everybody, you know, we try and provide this information to help you to become more educated as a buyer or seller. ⁓ So hopefully you get something good out of it. And even if you don't, let us know so that we can help you get something good out of it.

Ben Harang, REALTOR® (11:33)
Everybody.

Clint C. Galliano, REALTOR® (11:56)
Alright, Ben. Yep, I think we done. Alright, you too, Ben. Bye bye.

Ben Harang, REALTOR® (11:56)
Alright, think we're done, Clint.

All right, have a good one.