Real Estate Market – Market Update

Market Number for the last 7 days – 14-Feb-2022

Happy Valentine’s Day to all who celebrate it! I would also like to wish my wife of 19 years a Very Happy Anniversary today!

The image above shows the numbers for the local real estate market from the last 7 days. I shared last week’s numbers on social media but decided to use this as an opportunity to also share them as an article here.

New Listings

New Listings are a little bit lower than the numbers from last week. Since I am just beginning to observe these numbers, I don’t have a working theory on why they dropped. It’s possible that the holidays have impacted it, but I have no evidence to show that for certain.

New Contracts

New Contracts have also dropped since last week’s reporting. Again, further study is needed to get a handle on why that is. It could just be a natural fluctuation.

Closings

Closings are only down by 2. Closings are a function of contracts signed in the past. Duhhh…that’s obvious! They are a lagging indicator of contracts written anywhere from two to six weeks ago, typically, but could be from a longer or shorter timeframe.

Overall, things seem to be staying busy…lots of buyers looking, not nearly enough inventory on the market.

Remember, if you have a real estate need, whether buying or selling, give me a call or shoot me an email. It doesn’t matter if you are outside of my area, I can connect you with a Rockstar Real Estate Agent!

Clint C. Galliano, REALTOR® 985.647.4479

If you are thinking about selling your home and would like to get a valuation estimate, click here to request a Complimentary Home Valuation Estimate.

Clint C. Galliano, a native of Lafourche Parish, has lived in the Houma-Thibodaux area for over 36 years and is currently a REALTOR® with Keller Williams Realty Bayou Partners in Houma, La. He has been involved with real estate investing since 2017 and hosts the local Real Estate Investment Association. Real Estate is his passion. Clint previously worked in drilling fluids and drilling fluids automation for 28 years. He lives in Bayou Blue with his wife and two daughters.