I just read a piece by Leonard Steinberg, one of Compass’s most revered agents out of New York. Leonard has an incredible way of taking the long view, in a world that often measures everything in days, weeks, or even quarters. His reflection on “Where Were YOU 5 Years Ago?” hit home and inspired me to think about how much has changed and how far we’ve come. Here are a few highlights from Leonard’s reflection: Five years ago, COVID was just a whisper.
By 2020, it had turned our world upside down. The DOW was at 28,000. Today, it’s almost 43,400—up 55%. Similarly, the S&P 500 has nearly doubled, growing at 13% annually. U.S. GDP has climbed from $21.3 trillion to over $29 trillion—a 35% increase in just five years. But along with that, our national debt has grown from $22.7 trillion to over $36 trillion. Electric vehicles were more of a novelty, but Tesla has since normalized the Cybertruck and added 7 million EVs to the roads. Notre Dame Cathedral was a charred skeleton; today, it’s magnificently restored. A.I.?
Hardly anyone talked about it then. Now, it’s reshaping industries and conversations everywhere. And Compass—has handled close to 1 million transactions and around $1 trillion in sales in the past five years, doubling our 2019 numbers. Leonard’s takeaway: Looking at things over a five-year period provides balance, clarity, and the kind of perspective we don’t always get in the moment.
It’s a reminder of how much can change and improve with time. Even when looking at real estate, reflecting on the past five years, it's remarkable to see how much can change. In Orange County, the median home price has risen from approximately $823,500 in 2019 to around $1,375,000 in November 2024—a substantial increase of over time. Closing out 2024, it is an honor to have helped individuals and families throughout Orange County.
This year, my team and I helped 30 Buyers purchase their dream home, 28 Sellers get top dollar for their property, 22 tenants find the perfect rental, and 18 landlords find the perfect tenant. In total, we helped 103 happy clients. It is an honor to help, and thank you for your trust and confidence.
#realestate
