RE: Real Estate Podcast

Clint C. Galliano (00:00)
September's numbers are in, and if you read only one headline, you'd think our market just took off. Look a little closer. Let's talk about it.

Ben Harang (00:23)
Hello everybody and welcome to another episode of the R. E. Real Estate Podcast. I'm Ben Harang and with me today is my co host, Clint Galliano. How you doing today, Clint?

Clint C. Galliano (00:35)
I'm doing wonderful, Ben. How you doing?

Ben Harang (00:38)
I'm doing terrific. The weather's starting to change a little bit. The sun's shining. It's no longer ninety eight degrees with ninety eight percent humidity. life is good.

Clint C. Galliano (00:49)
Nice.

Ben Harang (00:51)
So what are we talking about today, Clint?

Clint C. Galliano (00:53)
We've got the fresh numbers for September two thousand twenty six from the Bayu Board data. And there's a split in them. Some numbers are tightening and some numbers are cooling off. Let's start with supply, Ben.

Ben Harang (01:09)
All right. inventory's down 17% from last September from 929 houses to 770. that's 5.8 months of inventory down from 7.7 months, which is a 24% drop as fewer homes chasing buyers. the new listings came in at 156 this September, down eleven point nine percent.

And we're down ten point four percent yeah to date.

This this is this is a trend. It's not a one month blip. Months of supply was at six point two in April, six point zero in May, and it's five point eight now. so we'll just see if that if that continues.

Clint, does a tighter supply match what you see on the ground?

Clint C. Galliano (02:00)
Well, the median sales price for September was two hundred and forty-eight thousand dollars, and that's up eleven point nine percent from two hundred twenty-one five ninety-five a year ago, averaging up almost fourteen percent. Headline looks strong for one month, but looking at year to date numbers, median is two seventeen five, and that's only up three point six percent year to date.

So single month swings and sample sizes

Ben Harang (02:29)
Mm-hmm.

Clint C. Galliano (02:30)
and everything, that's kind of how you wind up there. these percentages can look extreme because small sample sizes and the median doesn't account for concessions or down payment assistance. On the board's rolling 12 month chart, the median's leveled off since about 2023, near 215,000.

Ben Harang (02:53)
So that would that leads us to pending sales. Came in at 100 in September, down almost 17% from 120 a year ago. Closed sales were 137, down 4.2% for the month, but up 9.7% year to date. So it was cooling in August, but overall we're up for the year. Pending sales lead to closings. A soft September in pendings.

could show up in closings over the next couple of months. Let's watch October and November and see if this tracks.

Clint C. Galliano (03:29)
Things to keep an eye on over the next couple of months. housing affordability index dropped to 109 from 129 last September. That's down 15.5%. Year to date it's 124, which is down just under 10%. And homes are taking about 101 days to sell. It's roughly flat with last year.

The percentage of lists received rose to ninety-six point six percent from ninety-six point one percent. So getting a little bit more of asking price. and that's on the sell side. For buyers, get pre approved before you start looking because inventory's thinner. And we've kind of been preaching that since the beginning of the

Ben Harang (04:13)
Mm-hmm.

Clint C. Galliano (04:14)
year.

For sellers, price it right the first time because buyers out there are watching the numbers too.

Ben Harang (04:21)
All right, let's talk about your homework. I'm gonna give you some homework this time, Clint. Pull pull us.

Clint C. Galliano (04:26)
Good good luck getting me to do it.

Ben Harang (04:30)
You probably have a better chance of getting me to do it. I know I'm not. Your homework this month, pull the sold numbers for your own zip code or neighborhood for the last 12 months. Compare them with the boardwide figures we just covered. If you want to help sizing up your own situation, you can contact Clint or me, our

contact info is in the in the show notes. give us a call. We can we can talk about it. it's all about the location. We've been talking about seven three one zip code. I don't think anything's changed for that.

Clint C. Galliano (05:05)
Yeah, that's that's where the majority of the sales are happening in our board area. Lafourche, and Terrabone are still both going strong. assumption in Saint Mary, they're they've got a lot more inventory, but opportunity for better deals if that's what you're looking

Ben Harang (05:21)
Mm-hmm.

Clint C. Galliano (05:21)
for.

Ben Harang (05:22)
Right. Depends depends what you're in the market for. All right. So if this

helped, if this helped you, like, share, subscribe. You can find us wherever you get your podcast

and at RV Real Estate Podcast dot com. You can find a link to our YouTube channel. If you want to see two guys with faces for radio talk about real estate, on the video version, is that available? You can also listen to it listen to the audio version.

But it's all it's all there. All you need to do is download it.

Clint C. Galliano (05:53)
Yep. And you can get that anywhere you get your podcasts, YouTube, all the fun stuff. Tell your mom and them.

Ben Harang (06:02)
There you go. There you go. All right. I believe we got

Clint C. Galliano (06:06)
Another one in the can, Ben.

Ben Harang (06:10)
All right. Have a good one. See y'all next time.

Clint C. Galliano (06:13)
All right, you too Ben.