How’s The Market? – June 2023 Edition

How's the market? Clint C. Galliano, REALTOR® 985.647.4479; Keller Williams Realty Bayou Partners 985.262.4400

“How is the market?” you ask? It’s doing great!

This information covers the Houma. The numbers are compiled from sales and listings in the month of June, 2023.


The Houma market is moving towards equilibrium, otherwise known as a balanced market. Figure: 1 shows that we are still in a Seller’s Market but moving towards a balanced market.

Figure: 1

There are 4.88 months of inventory on the market for sale, up 17.59% over May, 2023. This means that more homes are being listed for sale and are available to be purchased.

The List to Sold Price Ratio is at 97.1%, meaning that the average price properties are closing at is 97.1% of the original list price. Stated in other words, the sale price is averaging about 2.9% below the list price.

The Median Days value is the value at the midpoint of the number of days properties are on the market. For June, that was 17. That means some sold quicker and some took longer to sell.

The Median Sold Price was $230,000. That value is up 4.93% month over month, indicating that prices are still rising. This is supported by Figure: 2.

Figure: 2

Figure: 2 shows Median Estimated Value of homes. This is based on the source’s (Realtor’s Property Resource) valuation models. The chart compares Houma to Terrebonne Parish, Louisiana, and the whole USA.

June’s Median Estimated Value is $220,860, up 0.4% month over month. This is also up 8.8% over the last twelve months.

Interesting Observations: Houma & Terrebonne Parish data track almost in lock-step due to Houma making up the majority of Terrebonne Parish’s data. Both tend to track with a similar trend as the whole state, but Houma is slightly more affordable.

The other thing I’d like to point out here is how the Houma Market is not as volatile as the whole US Market. US Values peaked in July/August of 2022 then dropped, in addition to being way higher than both Louisiana and Houma Median Home Values.

My interpretation of this information is that we don’t see the price shocks some parts of the country have been experiencing recently. We do have some changes, but nowhere near as wild as the east & west coasts or major markets.

So, if you are interested in buying a home, there are deals to be had as more inventory comes on the market.

If you are considering selling, there is still time to harvest your equity and get top dollar for your home.

Give me a call, shoot me a text, or send me an email if you’d like discuss any of this.

Clint C. Galliano, REALTOR®
Licensed by the Louisiana Real Estate Commission
Keller Williams Realty Bayou Partners
307 Bayou Gardens Blvd
Houma, La 70364
Each Office is Independently Owned & Operated

Real Estate Market – December Sales And 2021 Totals

December 2021 and Year-To-Date Residential Sales Numbers

Here’s an update on the local market in the Bayou Board of REALTORS® region, showing December 2021 and the Year-To-Date numbers.

Listings fell in December by almost a third compared to December 2020, which is also reflected in the overall trend for Months Supply and Inventory of Homes being lower YoY.

Pending sales were slightly down and closed sales were up 5%.

Both Median and Average sale prices were down for the month, but up YTD.

Speaking of Year-To-Date, New Listings were down 9%, but Pending and Closed Sales were both up.

What Does It Mean?

There is no doubt that we are still in a Seller’s market. There are less homes for sale than there are buyers looking.

If you are a buyer, it means that it may be a little tougher to find a deal. Homes are being put under contract almost immediately after being listed, so working with a dedicated REALTOR® can help you to get you in the home you want.

If you are a seller, this means that there are lots of buyers out there for your home. Things can move quickly! And with the Median Sales Price continually climbing, it makes even more sense to consider selling and harvest your equity appreciation.

Median Sales Price, December 2021

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.

Let me know if you have any questions about the market. I’d be happy to help you with any needs.

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

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.

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