Ep. 21 – April 2025 Market Update: Lafourche Parish

Summary

In this episode of the RE Real Estate Podcast, Clint C. Galliano and Ben Harang provide a comprehensive market update for Lafourche Parish, focusing on the real estate trends observed in April. They discuss the current market conditions, including inventory levels, pricing strategies, and the impact of environmental events on property values. The hosts emphasize the importance of pricing properties correctly to ensure sales and highlight the overall health of the real estate market in the region. They also touch on the challenges faced by homeowners in South Lafourche due to rising insurance costs.

Takeaways

·         The Lafourche Parish real estate market is currently balanced but trending towards a buyer's market.

·         Properties priced correctly are selling, with a sold-to-list price ratio of 98.8%.

·         The median sold price in April was $231,130, reflecting a 12.75% increase month over month.

·         Understanding the difference between median and average prices is crucial for accurate market analysis.

·         New listings in April decreased by 16.4%, indicating a potential slowdown in new inventory.

·         Pending listings saw a significant drop of 23.3% from March, suggesting a slowdown in market activity.

·         The average days on market for sold properties was 59 days, indicating a quick turnover for well-priced homes.

·         Insurance costs are impacting the market, particularly in South Lafourche, making it challenging for buyers.

·         The overall health of the Lafourche Parish real estate market remains strong despite fluctuations.

·         Future market updates will be provided regularly to keep listeners informed. 

Sound Bites

"The market is surprisingly well."

"Median sold price is $231,130."

"Price it right, the house sells."

Chapters

00:00 Introduction to Lafourche Parish Market Update

02:02 Market Trends and Analysis

08:17 Understanding Median vs. Average Prices

13:07 New Listings and Market Dynamics

18:39 Pending Listings and Market Activity

24:42 Sales Performance and Market Health

30:52 Conclusion and Future Updates

33:45 Disclaimer

Hosts 

Ben Harang, REALTOR® La. 

License #: 36589 

Keller Williams Realty Bayou Partners 

Mobile: 985.859.2500 

Office: 985.262.4400 

[email protected]

benharang.com 

Clint C. Galliano, REALTOR® 

La. License #: 995704723 

Keller Williams Realty Bayou Partners 

Mobile: 985.647.4479 

Office: 985.262.4400 

[email protected]

clintcgallianorealtor.com 

Produced by Clint Galliano 

Music by Wiggins Studios

Keywords

Lafourche Parish, real estate market, market update, pricing strategy, inventory levels, buyer's market, seller's market, property values, housing trends, real estate podcast

Click here to view the episode transcript.