RE: Real Estate Podcast

Ben Harang (00:07.662)
I'm gonna change my, I gotta go down a little bit, which means.

That's why I changed my camera. Did that mess you up?

Clint C. Galliano, REALTOR® (00:14.578)
I won't.

Clint C. Galliano, REALTOR® (00:19.47)
I'm waiting for you to finish everything and finish making noise before I start.

Ben Harang (00:28.014)
I'm never finished. I'm never finished.

Clint C. Galliano, REALTOR® (00:29.182)
Hang on, while we're doing this, let me grab something to drink real quick.

Ben Harang (00:35.576)
Bye.

Ben Harang (01:09.004)
We can't ever start without you doing that. So now it's time to start.

Clint C. Galliano, REALTOR® (01:13.746)
leaning over reminded me that I've got a pin, had a pin on my collar.

Ben Harang (01:20.746)
you for your wire just warning okay I think I'm good I gotta

Clint C. Galliano, REALTOR® (01:23.154)
My ink pen. No, my ink pen.

Clint C. Galliano, REALTOR® (01:35.506)
I gotta find my damn name tags.

Ben Harang (01:39.342)
I want to get another name tag and put my logo on it.

Clint C. Galliano, REALTOR® (01:46.91)
All right.

Ben Harang (01:51.816)
Okay, we're try focus time. Let's see what happens there.

All right.

Clint C. Galliano, REALTOR® (01:58.91)
Are you done? All right.

Ben Harang (02:01.006)
I'm done, go ahead. I'm not done, but I'm as done as I'm gonna be.

Clint C. Galliano, REALTOR® (02:10.385)
Mark, we've got the February 2026 numbers in and the story this month is isn't just, let me start that over.

We've got the February 2026 numbers in, and the story this month isn't just Houma versus Thibodeau. It's about how dramatically different the market is, depending on your zip code. See, that's just one line.

It's long, but it's one line.

Ben Harang (02:41.422)
It you can do it as one line. just I'd rather a break, but you can do it however you want to do it.

Clint C. Galliano, REALTOR® (02:45.287)
Yeah.

Clint C. Galliano, REALTOR® (02:49.622)
It's because the first part is so long. It's like how dramatically different the market is depending on your zip code and that don't flow.

Ben Harang (02:54.766)
It.

depending on your zip code. It flows in my mind, but you're doing it, so you do you.

Clint C. Galliano, REALTOR® (03:04.903)
All right.

All right. Yes, we're recording everything.

Ben Harang (03:08.374)
And all this is on tape, right?

Clint C. Galliano, REALTOR® (03:18.225)
Mark nine.

Clint C. Galliano, REALTOR® (03:24.253)
We've got the February 2026 numbers in. And the story this month isn't just about Houma versus Thibodaux It's about how dramatically different the market is, depending on your zip code. We're talking 12 days on We're talking 12 days on market in one area and 181 days just a few miles away. Same Bayou board, same Bayou region.

completely different experiences for buyers and sellers. Let's talk about it.

Ben Harang (04:01.792)
I like it. Just cut the first one out, put the other one in. I like it.

Clint C. Galliano, REALTOR® (04:07.784)
Okay, that works for me.

Ben Harang (04:11.094)
Okay.

Clint C. Galliano, REALTOR® (04:15.262)
All right. So what I recommend is, you we do a normal intro. You do the intro. Let's try not to refer to dates or events, especially because this one's this one obviously is going to be putting out next. But the ones that we recorded before where we talked about holidays and things like that, that's going to be weeks later. So.

Ben Harang (04:15.327)
Alright.

Ben Harang (04:21.386)
Mm-hmm.

Ben Harang (04:29.198)
Okay.

Clint C. Galliano, REALTOR® (04:44.648)
We'll try and stay away from that. Say, all right, so first we're to go over some market headlines. And we'll take each a line on what the market's doing. And then so the host discussion is just more its guidance. It's not necessarily what to read. It's about how to talk about it. And then we go into the.

Ben Harang (04:47.329)
Okay.

Clint C. Galliano, REALTOR® (05:14.01)
Segment two after and do the same thing and then trade off terrible versus Lafouche and

Ben Harang (05:16.43)
OK.

Ben Harang (05:23.054)
All right, so one of us does terrible and you're gonna do terrible and I'm gonna do Lafourche. There's two, there's two of them in Lafourche. You want me to just take that whole, those whole two paragraphs? Okay.

Clint C. Galliano, REALTOR® (05:32.306)
Yep. I don't necessarily know that Nichols is driving LaFouche's strength, so don't necessarily rely on that. Just talk about what you know for that.

Ben Harang (05:40.247)
Right.

And I'm, yeah, yeah, I may, I may include it, may not, because it does create the demand.

Clint C. Galliano, REALTOR® (05:50.994)
Yeah, it creates a demand for sure. Yeah, it supplements it.

Ben Harang (05:52.896)
It helps create demand.

Clint C. Galliano, REALTOR® (05:59.615)
All right, it's not LSU, you know, we do that. could get into how, you know, they got more people that wear LSU clothes around Thibodaux and they'll do anything for Nichols and none of those people went to LSU, but I'm sorry. Let me finish sipping my tea.

Ben Harang (06:02.038)
Right? Right?

Ben Harang (06:13.006)
Right, right.

Yeah, yeah And i've always i'm counter i'm counter to that said, you know those people that are doing something for lsu Don't don't bash them because they're doing something for lsu. Just go to them and say look whatever you're doing for lsu Why don't you do half of that for us? You know just i'm glad you like lsu help us out You know, don't don't bash them for doing what they want to do because if you bash them, they're not coming

Clint C. Galliano, REALTOR® (06:37.64)
Right?

Ben Harang (06:49.846)
Anyway, yes.

Clint C. Galliano, REALTOR® (06:50.558)
as more of a sour grapes position for me, not that I necessarily spout it out.

Ben Harang (06:56.654)
I understand, because I graduated from both of them and I have a unique perspective.

So, all right. Now that we finished trashing Nichols and LSU and recording it. All right. You ready?

Clint C. Galliano, REALTOR® (07:05.938)
No.

Clint C. Galliano, REALTOR® (07:11.43)
and grousing and right.

Clint C. Galliano, REALTOR® (07:20.477)
I'm ready.

Ben Harang (07:22.862)
3, 2, 1. Hello everybody. Welcome to another episode of the RE Real Estate Podcast. I'm Ben Harang and with me as usual is my co-host, Clint Galliano. How you doing today, Clint?

Clint C. Galliano, REALTOR® (07:39.74)
I'm doing wonderful, Ben. How you doing?

Ben Harang (07:43.286)
I'm doing terrific, Life's good. The weather's nice. And we have some new numbers to talk about. I think we're going to get right in it. So tell us what we're talking about.

Clint C. Galliano, REALTOR® (07:54.545)
All right, so we kind of did things even more different. Last time we talked about the numbers, we did a little different from how we've been doing it, and we've taken it to another level. Instead of just doing the overall board area and then talking about Houma and Thibodaux we've gone into detail for the zip codes that

Ben Harang (08:06.509)
Mm-hmm.

Clint C. Galliano, REALTOR® (08:19.334)
are included in Houma and Thibodaux, and also thrown in the differences in the numbers between Lafourche Parish and Terrebonne Parish. So we're going to start off covering some headline stuff, not news headlines, but actual headlines from the numbers that we've analyzed.

Ben Harang (08:41.441)
Mm-hmm. Okay, so I guess I'll take the first one after all that. So we have the the close sales are up 25.9 % February 26 over the February of 25. In year to date it's up 17%. So we got off to an outstanding start board wide, which is Lafourche Terrebonne St. Mary and Assumption Parishes.

Clint C. Galliano, REALTOR® (09:11.869)
Pending sales are up 14.7 for the month and 30.3 year to date. So it's some strong forward momentum.

Ben Harang (09:22.537)
Now here's a number to watch is new listings have dropped 15%. Fuel homes are hitting the market, but we have pressure from buyers for the houses that are on the market. So if the listings don't go up, there'll be a tightening supply will not be keeping up with demand.

Clint C. Galliano, REALTOR® (09:51.059)
Yeah, and median sales price held flat. I missed the line. Month supply fell from eight to 6.6. That's a 17 and a half percent drop. So again, talking about inventory board wide tightening.

Ben Harang (10:11.068)
And then the median sales price held flat at $215,000 while the average sales price rose 9 % to $235,000. With higher end sales pulling the average up, that's why we use median sales and the median. And I feel like we say this all the time, but the median sale is half of the sales are below that number and half of the sales are above that number.

while the average is just the sum of all the sales divided by the number of sales. So it's a little more reflective of the true value in the market.

Clint C. Galliano, REALTOR® (10:50.43)
Next we've got housing affordability index that's up to 137 so that's a 7 % increase 7 % more than a year ago and I think probably the biggest thing driving that is that interest rates have come down a little more I know that they Got down fairly low and then kind of jump back up But you know that they're gonna do that

Ben Harang (11:16.811)
and

Clint C. Galliano, REALTOR® (11:20.242)
But ultimately, is more affordable than February. February of 26 is more affordable than February of 25. So that means that more buyers can get into homes.

Ben Harang (11:36.414)
Exactly. I think the positive trends is more homes are selling, inventory is being absorbed faster, the affordability is improving, and the board level numbers are encouraging board wide. We're going to get into different area codes in a minute and you're going to see the wild fluctuations between the area code within the Bayou Board of Realtors.

So that's where it really gets interesting for me. The numbers speak volumes.

Clint C. Galliano, REALTOR® (12:09.663)
And just the other thing I want to point out is that the decline in new listings is going to be something to keep an eye on. If the sellers continue to stay on the sidelines, that tightening is going to accelerate.

Ben Harang (12:27.373)
Okay. All right. I'm gonna go ahead and take Lafourche Parish, Clinton. You take Terrebonne and we'll kind of talk about them. Lafourche Parish has 5.58 months of inventory, which means if we don't list another house in five and a half months, we'll have no houses to sell at the rate we're selling them. It has a 97 % sold to list ratio, which means the sales price is 97 % of the list price.

Clint C. Galliano, REALTOR® (12:36.006)
with it.

Ben Harang (12:57.229)
48 median days on the market. Half is higher than that, half is lower than that. The median sales price is $221,000.

Ben Harang (13:10.633)
Inventory is down 15.3 % year over year, which is something we need to keep an eye on with and it's tightening more than twice as fast as Terrebonne Parish. So Lafourche outpaces Terrebonne in every key metric. It has a tighter supply, faster sales, closer to asking price and nearly $40,000 higher median sold price. The gap between the two parishes widening, not closing.

Clint C. Galliano, REALTOR® (13:42.585)
And I think part of that is that Terrebonne Parish covers a lot wider area, whereas Lafourche Parish, for lack of a better term, is kind of a narrow strip alongside Terrebonne Parish. So that kind of makes it a little easier for those numbers to improve.

Ben Harang (13:58.2)
Mm-hmm.

Ben Harang (14:04.619)
Well, and I also think the population in South Lafourche is not the same as the population on the East side in Terrebonne. those are the things that the East side of Terrebonne is, I don't want to be negative, but the market on the East side is challenging at best. The market in South Lafourche is not as deep.

Clint C. Galliano, REALTOR® (14:13.351)
Yeah.

Clint C. Galliano, REALTOR® (14:30.974)
And we're going to cover that a little bit more when we start talking about the zip codes. So Terrebonne Parish. Terrebonne Parish is still in a buyer's market. There's 7.26 months of inventory. So right at 7 and 1 quarter months of inventory, 92.9 % sold to list. That's a little bit different number. 97 median days on market. Again, that's about double.

Ben Harang (14:54.125)
Mm.

Clint C. Galliano, REALTOR® (15:01.426)
the median sold price is $182.5. That's a significant difference in median sold price. And inventory is down 6.9 year over year. So it's trending in the right direction. It's just that, again, you've got more listings in Terrebonne Parish than you do in, I'm sorry.

Ben Harang (15:11.433)
and

Clint C. Galliano, REALTOR® (15:30.157)
more population in Terrebonne Parish than you do in Lafourche and the percentage of those that are selling is a little bit more than what we've got in Lafourche and hence that's why our numbers look like that.

Ben Harang (15:44.534)
Yeah. Okay. So, so why is Lafourche doing so much better than Terrebonne? And in my mind, when Clint and I were talking about this, it has everything to do, or the biggest factor is insurance rates. The flood zone classifications, we have more property that are not in special hazard flood zone classifications, so you're not required to buy flood insurance.

The interest rates are the same regardless of where you are. it's not the interest rate. Homeowners is homeowners premiums starting to loosen up, but they're more available in North Lafourche parish than they are on the East side of Houma They're more available in North Lafourche than they are on the West side in some areas. So as, as you get West side closer to North Lafourche, it, the insurance premiums lighten up.

but it's still a little bit of a challenge. And then we have the economic base, is Nichols, the John Deere manufacturing plant, Thibodaux is the parish seat of Lafourche and the medical community. So we put all those things together and it sets up pretty good for Lafourche Parish on the Northern end of it.

Clint C. Galliano, REALTOR® (17:04.92)
And I think something else, and we don't really talk about it a lot, but a lot of the population of Thibodaux work in the plants on the river and Thibodaux is a nice area for them to live without being, you know, in the city as we call it, living closer to New Orleans. And it's within a reasonable drive for them to commute to work.

Ben Harang (17:30.51)
And the way we've seen happen since Ida too, is the population in South Lafourche has shrunk. And a lot of those people are coming to North Lafourche. used to be in general terms, Lafourche had a third of its population in North Lafourche, which was designed basically St. Charles Bridge North. Then from there to the Intracoastal and then from the Intracoastal South.

Clint C. Galliano, REALTOR® (17:30.76)
Yeah.

Ben Harang (17:59.374)
It's more like 40 % & a third and I guess it'd be 27%, whatever the difference is for South Lafourche Unfortunately, the population in South Lafourche has gone down a significant amount, unfortunately.

Clint C. Galliano, REALTOR® (18:18.623)
Yeah. All right. Next, we're going to look at Houma's three zip codes. And we're only breaking down Houma with multiple zip codes because part of Houma that's considered the city and the address consists of three different zip codes.

So when we talk about Houma and we say it's in a buyer's market at 6.91 months of inventory, which is that's significantly more than what we're going to talk about for Thibodaux It's a blended average that masks some wild variation. city limits don't cover all of Houma zip codes. So

Ben Harang (19:08.759)
Mm-hmm.

Clint C. Galliano, REALTOR® (19:13.897)
That's why we're going into these zip code level breakdowns.

Ben Harang (19:18.049)
Yeah. So, no, go ahead. Go ahead.

Clint C. Galliano, REALTOR® (19:19.495)
So East Houma, do you want to take East Houma?

Now, I'd rather you take it, because you started talking about it already.

Ben Harang (19:28.787)
Okay. So the East side, the East side of Houma is, you know, if you're not familiar with, with the East side, everybody thinks the intercoastal runs East West and it essentially does, but it made an up-dip into Houma to get it through Houma. And so the East side is, it's not on, it's not on North or South side of the intercoastal. It's the East side, kind of like New Orleans.

when you, the West bank is to East is to the East of the city. but, th this pocket is the most challenging of all of the zip codes we're going to look at the median sold price is $145,000. I just told you the median price in, in Lafourche is I think 221 So it's a eighty thousand dollars more than that.

Um, with an estimated median value of 175, 175,000. It's a six months days on a market in North Lafourche, it's 12. Um, at six months, months of inventory has come down somewhat at 7.3 months. Um, but it's still above the six month, which creates a balanced market.

And the median sold price has dropped $77,500, suggesting a high volume of distressed estate succession or off MLS investor transactions, which means there's great pressure to sell them and the demand for them are not very high. So between those two, the market is not in good shape on the east side of home.

Clint C. Galliano, REALTOR® (21:27.711)
And one of the things that, in looking over the data, there's, and I don't remember exactly what it was, but something that hinted that a lot of the sales that happened based on property transfers were off market. So that means people, maybe it's,

Ben Harang (21:46.637)
Mm-hmm.

Clint C. Galliano, REALTOR® (21:50.612)
family members selling to family members, somebody going and finding a distressed property and purchasing it for cheap with intentions of flipping it or fixing it up to live in. So some of that contributes to that. Again, insurance and flood maps and stuff, that's gonna be the biggest factor. There's a lot of the East Side that was considered flood zone C.

that after the map changes is now flood zone AE. Most of the east side is the zone X is along Grand Cayo. Now it's not all of Grand Cayo, but on the east side in 70363, those are gonna be the places where you're gonna find those zone X properties.

Ben Harang (22:25.601)
Yes.

Ben Harang (22:43.713)
Mm-hmm.

And if you track it, the tough markets are where more of the property is in the special flood hazard zones, where the flood insurance is required. The places that are doing better is where people are not required to buy flood insurance. So FEMA has done such a terrible job of pricing it that it basically makes people's minds up they're not going to buy something in flood zone.

where they have to buy flood insurance because the premium is so high. that's just a, every action has consequences and that's a consequence of FEMA's decision to raise the prices as much as they did.

Clint C. Galliano, REALTOR® (23:29.735)
Yeah, and so it impacts our markets. All right, next we're going to talk about 70360. So this is majority of downtown, the West Bank of Bayou Terrebonne and goes out into Bayou Black. It's basically that whole west side of the Houma area. The west side of the west side, that's right.

Ben Harang (23:51.081)
west side of the west side.

Clint C. Galliano, REALTOR® (23:55.04)
So some of the highest price points in Terrebonne are in 70360. Median estimated value is 300,000 plus. The median active listing is $340,000. But also the deepest buyer's market in the entire data set. Months of inventory are almost 8.8 months.

Ben Harang (24:12.577)
Mm-hmm.

Clint C. Galliano, REALTOR® (24:24.735)
That's the highest out of anything that we've looked at. And the sold to list is only 91, almost 91.5% that's also the lowest. The inventory is the only one out of everything that we've looked at that's growing year over year. So that means that there's almost 5 % more in properties on the market than what it was last year.

Ben Harang (24:35.149)
Mm-hmm.

Ben Harang (24:53.653)
Right. The board itself has shown a 15 % decrease in listings and there's a 5 % increase on the west side of the west side.

Clint C. Galliano, REALTOR® (25:04.383)
And so I'd say the big story is the gap. So the median asking price is almost $340,000. And the median sold price is just under $260,000. Majority of that is likely due to the higher price properties that are not moving as fast.

Whereas 260 and below is kind of a bread and butter price range and it's easier for a lot of families to make purchases of those size. So they were actually moving faster which brings the median sold price down.

Ben Harang (25:48.902)
Mm-hmm Okay, I'm gonna take I'm gonna take North Houma (70364) and then Clint's gonna talk about 703 60 zip code So North home is east of Bayou Terrebonne and includes the Bayou blue area. So What we know as West Park Avenue that side of the bayou or the mall side is the healthiest of the three? Houma zip codes were looking at and the trend is mostly positive months of inventory is a little over 5 % 5.3

5.3 months, I'm sorry, which is approaching balanced market territory, which we haven't seen for a while. The median sold price is $235,000, $235,000. Days on the market is a more reasonable 66 days. So in two months, you can expect to be closing on your listing in 70364 And the inventory has dropped.

19 almost 17.9 almost 18 % year over year with the sharpest tightening, which means that the demand is outstripping the supply. And unless we get some more supply in a 70364 area, the prices should reflect that. And the sold to list is 94.8%. The East side is 91%. This is better than the East side.

in Lafourche is 97 point something percent. So not quite as good, but it's a much healthier market than Eastside.

Clint C. Galliano, REALTOR® (27:24.125)
Yeah, that's for sure. Some more interesting stuff about 70364. The median sold price exceeds the median estimated property value. So that means that buyers could be paying a premium for living there. And there's a lot to be desired about that area. There's good schools, and depending on where at you're sitting in the zip code,

Ben Harang (27:44.203)
Mm-hmm.

Clint C. Galliano, REALTOR® (27:52.702)
You know, there's a lot of things that are desirable. Again, depending on where you live is the schools that's associated with those areas. Another thing that's interesting is that 70364 straddles the Terrebonne-Lafourche line. And the data shows it behaving more like Lafourche than the rest of Houma, even though it's a small strip of that zip code that

Ben Harang (28:15.564)
Mm-hmm.

Clint C. Galliano, REALTOR® (28:19.653)
actually is considered Houma by address but the in that zip code it's basically the eastern side of highway 316 or Bayou Blue Road and but that's where the

Ben Harang (28:34.465)
Mm-hmm.

Clint C. Galliano, REALTOR® (28:38.527)
the decent construction is going on. That's where Cairo Estates is. That's where the majority of the newer, and when I say newer, mean 15 years or younger, subdivisions are, with the exception of Wallace-Thibodaux in Gray. Well, actually, that's not part of 70364, so that doesn't count. But just in general as a geographical reference,

Ben Harang (28:49.822)
Mm-hmm.

Clint C. Galliano, REALTOR® (29:03.175)
all the newer subdivisions were built on the Lafourche side. So that's probably impacts that area for a good bit.

Ben Harang (29:12.041)
Yeah, the most of the new construction for years had been just in Lafourche Parish and DSLD recently and by recently, last three to five years has started building in the Great Bayou Blue area because the flood zones were more favorable in those areas as opposed to deeper into Terrebonne Parish. So they saw an opportunity there and that's why.

the Northern area of Terrebonne that is adjacent to Lafourche looks similar to Lafourche and Thibodaux. All right, so we're gonna cross lines now. The divide between Lafourche and Terrebonne isn't deep enough. We're gonna make it deeper, Clint.

Clint C. Galliano, REALTOR® (30:03.343)
Everybody loves everybody.

Ben Harang (30:05.343)
Yeah, yeah. So this is where it gets really crazy. The 70301 zip code covers Thibodaux, Schriever or Chackbay and communities beyond down to almost

Clint C. Galliano, REALTOR® (30:16.895)
It doesn't cover Schriever it covers down to the railroad tracks.

Ben Harang (30:22.637)
Well, in Thibodaux, Schriever is to the railroad tracks. OK, it covers to the overpass basically. And the difference in the real estate market is mind boggling. With 3.78 months of inventory, it's squarely in a seller's market. At 98.7 % list to sold is a seller's market

13 days on the market is a seller's market. And the median price at $246,000 is the median sold price, which is significantly more than our neighbor next door. And the inventory is down 10.6%. So not only is the demand outstripping supply now, it's getting worse or getting better, depending on which side.

year on that there should be more more pressure on the pricing in the 70301 zip code. The estimated value is $247,000 and a median sold is 246. So it's nearly perfectly aligned. It's a well calibrated market where pricing expectations meet reality. In a city limits.

Or somewhat, well, they are tighter geographically than the whole zip code, but the city numbers are nearly identical to the numbers in a 70301 zip code. thought we might see a little bit different, but we don't. And then as you get outside, as you get further and further away from the Thibodaux from the city limits, Thibodaux, as you get further out, going down towards Raceland, the market softens.

but as you get further down, it softens more and more. So it's...

Clint C. Galliano, REALTOR® (32:26.43)
And so something I think that contributes to this is 70301 contains all the 922 DSLD neighborhoods. I'm being facetious with that number. I think there are nine.

Ben Harang (32:39.349)
No, you are absolutely right. And for the longest time, they refused to build in Terrebonne at all.

Clint C. Galliano, REALTOR® (32:47.316)
Yeah. so, but it's not just DSLD. Ryan Dicharry is building in there. I want to say, well, I don't know if Manuel builders are building in the area, but there are other builders also. DSLD is kind of the main to bring back an old term tract home builders, but these aren't tract homes. But that, I think, is the

Ben Harang (33:12.545)
Right. Right.

Clint C. Galliano, REALTOR® (33:16.096)
biggest driver on why the sold to list is so close because that difference is nine times, actually I'd say 99 times out of 100, that sold to list difference between 98.7 and 100 is gonna be resale homes. So homes that were purchased and then they're being sold again because DSLD and

Ben Harang (33:22.381)
Mm.

Clint C. Galliano, REALTOR® (33:45.364)
the other builders, when they build those homes, price them at, they're fairly accurate on their pricing. And so they put them under contract for that and that's what they sell for.

Ben Harang (33:56.59)
Right, right. In some of the other builders, there's the Chris Ledet Homes Lee Rutter, John Rutter, Ledet builders, there are people building

Custom slash spec homes. still spec homes, but they're more in the custom price range and they have some higher end amenities. So those people out there, there's nobody locally that's competing against DSLD in that price range. So if you have something other than DSLD, it'll be in a more custom price range.

Ben Harang (34:46.389)
So you want to go to, you want to get the full comparison?

Clint C. Galliano, REALTOR® (34:50.58)
Yeah, I'm going to just read through it here. So this is going to cover all the areas we looked at, the type of market, months of inventory, median sold price, sold to list ratio, and days on market. And we're going to take each row here so that we can get through it quickly and you're not just hearing one person read for five minutes. All right.

Ben Harang (35:19.341)
And maybe we can put this graphic up when in editing phase.

Clint C. Galliano, REALTOR® (35:24.948)
Yeah, yeah, we'll pull this graphic up.

Ben Harang (35:26.797)
because numbers get lost in the audio.

Clint C. Galliano, REALTOR® (35:29.792)
All right, so 70363 East Houma, or East Side, as it's locally referred to. They're in a buyer's market. Months of inventory are 7.36%. Median sold price is $145,000. The sold to list price is 95.5%. And they're averaging 181 days on market.

Ben Harang (35:54.83)
and the 70360 zip code which is essentially downtown Houma is in a buyer's market at 8.78 percent of months on months of inventory with a median sold price of $259,000 with a 91.4 percent sold to list price and 99 days on the market.

Clint C. Galliano, REALTOR® (36:19.52)
Next, we've got 70364. So that's the north and eastern side of what's generally known as the Houma area. That's at a near balanced market. It's 5.35 months of inventory. Median sold price is $235,000. The sold to list is 94.8%. And days on market is 66 days.

Ben Harang (36:45.197)
And Terrebonne Parish as a whole is in a buyer's market with 7.26 months of inventory, $182,500 median sold price with 92.9 % list to sold price and 97 days on the market.

Clint C. Galliano, REALTOR® (37:07.552)
Alright, Lafourche Parish is sitting on a balanced market and it's 5.58. So a little higher, actually it's a little bit higher than the 70364. The median sold price is $221, almost $222,000. Sold to list is 97.1 % and average days on market, I guess that's median days on market is 41.

I'm sorry, 48. I'm just saying all kinds of crazy stuff.

Ben Harang (37:40.0)
Right. You're saying what did you want it to be? All right. So 70301 zip code, the Thibodaux and the surrounding area. And this is where the numbers are really just mind blowing to me with squarely in a seller's market with 3.78 months of inventory, which is not enough.

Clint C. Galliano, REALTOR® (37:43.445)
That's right.

Ben Harang (38:02.125)
at $246,000 median the sold price, 98.7 % of list to sold price with 13 days on the market. And we have it broken down just the city within the city limits of Thibodaux, but they are essentially the same, except the median sold price is about $9,000 higher at $255,000.

Clint C. Galliano, REALTOR® (38:30.442)
See, it's catching.

Ben Harang (38:32.113)
It is, you're rubbing off on me, Clinton. So it's a tale of zip codes, not even parishes. It's a tale of zip codes. You know, if we went into zip codes in central Lafourche, like we did in Terrebonne, it would be similar as we go further south. So in my mind, it's got everything to do with the cost of insurance.

Clint C. Galliano, REALTOR® (38:35.072)
you

Ben Harang (39:00.887)
cost of homeowners insurance and a cost of flood insurance.

Clint C. Galliano, REALTOR® (39:05.824)
All right, next we're gonna cover, we're go over some key contrasts. One is the speed spectrum. So a home in Thibodaux, whether the city or the zip code, you're looking at 12 to 13 days to get under contract. And a home on the East side of Houma is taking six months to get under contract. That's roughly a 15 times difference.

Ben Harang (39:22.753)
That's crazy.

Clint C. Galliano, REALTOR® (39:36.512)
in the same Bayou board area. Even within the Houma zip codes, the spread runs from 66 days to 99 days to 181. That's insane.

Ben Harang (39:38.923)
Mm-hmm.

Ben Harang (39:47.598)
It is, it is. And then how about the discount map? Buyers in the 70360 are negotiating nearly 9 % off the asking price. Typical buyers are essentially paying full price, almost 99 % of the list price. For sellers, this is the expectation setter. A price in 70360 listed at $340,000 and the data suggests you'll close at around $310,000.

Price of typical listing at $250,000 and you'll close at around $247,000. So the list to sell price is significantly different.

Clint C. Galliano, REALTOR® (40:28.161)
Next, we're going to talk about what the inventory trend's doing. Almost everywhere, we're tightening year over year, which is healthy. The sharpest tightening is in 70364, and that has dropped almost 18%. Lafourche Parish, as a whole, has dropped a little over 15%.

and Thibodaux City has dropped, the inventory there has dropped 14%. So the only outlier is 70360, the west side of Houma, and that's the only one where inventory is growing and it's going up around 5 % year over year. So that's a notable red flag for sellers in that zip code, but there's ways to manage that.

Ben Harang (41:21.313)
Yes, there are. So let's just, let's just, I know we went through a lot of numbers and we sit in here reading them and we can't read them right. Much less you hearing them right. but just know that Houma, if you have a Houma address, it's not all one market. just depending on, on which side of the Bayou Terrebonne you are, which side of the intercostal you're on.

buyers and sellers have completely different experiences.

Clint C. Galliano, REALTOR® (41:56.213)
Yeah, so the one thing I'll note for 70360 is to, when your agent says that maybe you should list a little lower to make sure that you're in the market, that's one way to counter this trend.

you may wind up with more money out of the deal.

Ben Harang (42:17.505)
That's right. That's right. Or you may wind up with the same money sooner and at less of a discount.

Clint C. Galliano, REALTOR® (42:27.296)
Yep, that's another thing to keep in mind. It's all on a spectrum. All right, next we're going to cover the insurance and flood zone factor and how it applies. The key points is that Terrebonne as a whole had their flood maps updated and a significant number of properties, that's a tough word sometimes, were in zone C and moved to zone AE.

Ben Harang (42:32.216)
Mm-hmm.

Clint C. Galliano, REALTOR® (42:57.318)
which requires them to have flood insurance if they have a mortgage or at least their lender will require them to. While this affected the entire parish, East Houma was probably disproportionately impacted because of how much of the property in that area had changed flood zone classification. So we talked about what it's worth, know, what causes that and why.

Ben Harang (43:01.73)
Mm-hmm.

Clint C. Galliano, REALTOR® (43:26.932)
but it directly compresses the buyer's purchasing power. And then you layer that on top is you layer the homeowner's insurance on top, being that the east side of Houma is further south than the other zip codes and Thibodaux. That generally translates into the closer you are to the coastline, the higher your insurance is going to be. So.

That's just a general trend. So you lay that on top of having to have flood insurance. It makes it a lot harder to sell. the only lever right now to help properties move is price. Unless you happen to have a grandfathered flood insurance premium that you can transfer with the sale.

Ben Harang (44:13.207)
Mm-hmm.

Clint C. Galliano, REALTOR® (44:24.369)
then that could help.

Ben Harang (44:26.605)
And we're essentially, I think, three years into that grandfather period. And that grandfather period was to limit the rate of increase to only 18 % a year until it got to the acturarally round sound rates, which they said was going to take about five years. So.

While we still have maybe two years left on the grandfather policies in the next two years, those grandfathers are going away. And what happened was a lot of people that were not required to have flood insurance did not have it. And they go to sell the house and then they go straight to that actuarially sound rate without the 18 % step increases. So you went from, were, were adversely

selected against because you did not have flood insurance when you were not required to have it to where the premium went to the top right when somebody else went to buy it. So all of those things together and we have the real estate market that we have.

Clint C. Galliano, REALTOR® (45:32.171)
Yep, those are the things that are driving that. And just to, you if you're not familiar with flood insurance rates, I don't have a mortgage on my home and I carried flood insurance even though I wasn't required to and didn't really need it based on the current flood zone classification. But with risk rating 2.0, my premium started going up significantly every year.

And it got to the point where I decided that I wasn't going to pay for it anymore. I've been living there over 20 years, never had any issues with flooding. And I just refused to pay $3,000 a year for flood insurance. I know some people may laugh at that based on what they're paying, but that's just the way I felt about it. And that risk rating.

Ben Harang (46:02.381)
Mm-hmm.

Ben Harang (46:08.685)
Mm-hmm.

Ben Harang (46:29.293)
Mm-hmm.

Clint C. Galliano, REALTOR® (46:30.432)
2.0 has made that kind of impact on what the actual costs are for living where you want to live.

Ben Harang (46:40.205)
No doubt. And, just an example, and I'm going to use a $250,000 house. If you have a $250,000 house on the East side of Houma and a $250,000 in a 70364 zip code in Houma, um, same, same, uh, same house, the cost of insurance could be as much.

The difference could be as much if it's $6,000 would be $500 a month in your monthly note. Same house, same price, same everything. The cost of insurance is $6,000 a year more. Your monthly note goes up by $500 a month. That's why the market is what it is today in LaFouche and Terrebonne Parish. And I'm not a good one. I'm not going to defend the insurance industry.

I spent time in it. don't like it. I think it's wrong, but I don't make the rules. So we need to live with what they give us and hopefully at least the homeowners insurance will start. Subsiding something with more competition coming into the state.

Clint C. Galliano, REALTOR® (47:55.357)
And something to support that, will say, so I have commercial insurance on my rentals. And after Ida, they stopped writing in the state. And then last year, they started writing in the northern part of the state. And day before yesterday, I got an email saying that they're writing new policies now across the whole state.

Ben Harang (48:09.901)
Mm-hmm.

Clint C. Galliano, REALTOR® (48:22.45)
So that's actually good news because that's evidence that carriers are starting to write more. And the more carriers we have writing policies, the more competition there is. And the competition will drive the premiums down. All right. Let's talk about our takeaways here. I'll go ahead and take the sellers takeaways.

Ben Harang (48:26.477)
Mm-hmm.

Ben Harang (48:39.67)
Yeah.

Clint C. Galliano, REALTOR® (48:50.24)
and it's broken out by area and I'll let you cover the buyer side. All right, so sellers takeaways for Thibodaux/ 70301 zip code. If you price it right and expect, you can expect a fast sale close to asking. Don't get greedy, the data supports strong pricing, not overpricing. North Houma Bayou Blue Area 70364.

Ben Harang (48:54.893)
Okay.

Clint C. Galliano, REALTOR® (49:17.064)
Markets tightening in your favor. Price competitively and you move. This area is the closest to balanced in Terrebonne In Houma 70360, the toughest pricing conversations in the market. Account for insurance reality that your buyers are going to face and expect significant negotiations. Data shows that with a 91.4 % sold to list ratio. And then Eastside of Houma.

Ben Harang (49:31.403)
Mm-hmm.

Clint C. Galliano, REALTOR® (49:45.694)
Realistic pricing is critical. You're competing against distressed inventory and fighting flood zone reclassification and insurance headwinds.

Ben Harang (49:55.894)
Okay. So how about some buyer takeaways by area? If you're in Thibodaux, get all your ducks lined up early. Cause as soon as you find the house, you better be, you better be ready to react. You can't wait three or four days to go see it. Then wait three or four days to get a loan approval and then three or four days to write the offer. By that time it's under contract and you're not, you're not even in a ballpark. So when you find it, have everything lined up so you can react.

North Houma, you have some negotiating room, but it's tightening fast. So if you're in the market in that area, line your ducks up and get ready to move also. 70360 and 63, maximum leverage for buyers, ask for concessions, negotiate, factor in the insurance costs and take your time. The data's on your side, but don't get blindsided by the cost of insurance. Go in with your eyes open.

So you don't fall in love with the house and realize the notes can be $500 more than you could have done somewhere else.

Clint C. Galliano, REALTOR® (51:05.856)
All right, I'm going to give a little takeaway for investors. East Houma and 70363 ZIP code, it's an acquisition opportunity zone for rental investors, as long as you're willing to navigate that insurance landscape.

The gap between the $77,500 public record median and the $145,000 MLS median shows that off-market deals are happening. And Thibodaux's tight supply means strong rental demand, but high entry points are high entry costs. And 70364 is the sweet spot between price and marketability.

Ben Harang (51:49.582)
So, what do need to do? Well, whether you're in Terrebonne or Lafourche Parish, buying, selling, or investing in property, your zip code matters.

Reach out for a free market analysis specific to your neighborhood. We didn't get down to neighborhoods, but we got down to the zip code level and we show the vast differences between the zip codes. So if you want to have a conversation, if you're thinking about it, go to rerealestatepodcast.com. All of my contact info is there. All of Clint's contact info is there.

Reach out to one of us, let's talk about it, and see if there's something we can do to help you move on with the next chapter in your life if you're looking to make a move.

Clint C. Galliano, REALTOR® (52:40.416)
All right, and if you like what you heard, don't forget to like, comment, share, and subscribe. You can get us everywhere on any podcast platform, whether they are available, and YouTube. And you can find links to all of that at rerealestatepodcast.com.

Ben Harang (53:04.705)
That would be RERealEstatePodcast.com.

Clint C. Galliano, REALTOR® (53:09.064)
All right, I think we've got another one in the can,

Ben Harang (53:13.025)
Thanks so and Jordy Clint have a good one.

Clint C. Galliano, REALTOR® (53:15.239)
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