Deep Dive Into Q1 2024 | Market Update

Market Analysys Jeff Lang April 24, 2024

Dear Friends and Clients,

As we dive into another vibrant quarter, I want to share some key insights that continue to shape the Bay Area Peninsula real estate market. My focus today will be on long-term home appreciation, current market dynamics in San Mateo County, and recent developments with the National Association of Realtors (NAR) settlement.



1. Long-Term Home Appreciation: A Perspective on Investment

Investing in real estate remains one of the most reliable ways to build wealth over time. Historical data is particularly telling: if you had purchased a home in the United States in 1968 and held onto it for 55 years, your investment would have grown by an average of 20 times. Here in California, that same investment would have seen an even more impressive increase, appreciating 35 times over. This stark difference highlights the exceptional value of California real estate, particularly in areas like San Mateo County.


2. Current Market Dynamics in San Mateo County

Today's market is a tale of two scenarios. Homes that are well-marketed, located in desirable areas, and expertly negotiated are still fetching above their asking price—currently at 104% on average. This shows a robust demand and indicates that well-prepared sellers can achieve very positive results. Meanwhile, we've all adjusted to the interest rates stabilizing around 7%. This new normal is shaping both buyer and seller strategies as we continue to navigate the market landscape.



3. Clarity on the NAR Settlement

There have been numerous reports about the recent NAR settlement which may have led to some confusion. I want to clarify that this agreement primarily enhances transparency around compensation for both listing and buyer’s agents. The settlement promotes fairness and clarity in real estate transactions, ensuring all parties are well-informed about where and how real estate commissions are distributed.

As always, my goal is to keep you informed and confident in your real estate decisions. If you have any questions about the market, potential investments, or other real estate inquiries, please don’t hesitate to reach out. Your trust and satisfaction are paramount as we continue to navigate the ever-evolving real estate landscape together.


As always, contact me anytime with any questions!


Kind Regards, 


Jeff Lang - San Mateo County Expert

Jeff Lang

Jeff Lang


About The Author

Jeff Lang's career in real estate is a testament to his strategic, growth-oriented mindset and his dedication to helping clients navigate the unique landscapes of San Mateo County. With his focus on areas from Burlingame to San Carlos and Pacifica since 2011, Jeff has become an invaluable asset to those seeking the perfect balance of urban and suburban life. His appreciation for the county's temperate weather and easy access to a plethora of outdoor activities resonates deeply with his clientele, who seek both the vibrancy of urban living and the tranquility of suburban spaces.

Beginning his journey in commercial real estate in San Francisco in 1997 and later transitioning to residential real estate in La Jolla, Jeff has honed a deep understanding of the industry. Known for his professional, caring, and patient approach, he brings a results-oriented and responsive attitude to every transaction. Jeff's unique strength lies in his ability to outperform competitors by leveraging his extensive experience and education.

Jeff leverages his education having received his JD and an MBA, alongside numerous real estate certifications including Master Certified Negotiations Expert and Certified Luxury Home Marketing Specialist, enabling him to devise winning strategies for each transaction. His approach not only ensures success but also puts his clients at ease, earning their trust and loyalty.

Outside of real estate, Jeff's life is as dynamic and multifaceted as his professional pursuits. His hobbies range from trail running and hiking with his dog to playing golf, tennis, and pickleball, and he's an enthusiastic Peloton user. A proud graduate of law school at the age of 42 and an Ironman triathlon finisher, Jeff's achievements speak to his determination and commitment. These qualities, combined with his professional expertise, make him an exceptional choice for buyers, sellers, and investors—especially in the $2m+ range—who are looking for more than just a transaction but a partnership with a seasoned expert who will turn them into raving fans.

In his over two decades in real estate, Jeff is most proud of partnering with his clients to build the life of their dreams. It helps that Jeff is a negotiations shark, having competed nationally as president of the negotiations team in law school and as a Master Certified Negotiation Expert (MCNE). His MBA and JD also give him and his clients a competitive advantage in every transaction, leading to his listings selling for 4.8% more than the average San Mateo County agent and offers getting accepted 6x more frequently.

If you are looking for an agent who will take on your goal as their own and be relentless in their pursuit of achieving that goal, then you want Jeff as your partner. He’s completed five marathons, including one in Antarctica, and dozens of triathlons, including an Ironman. His passion for taking on a challenge and grinding away to craft creative solutions is unparalleled. Jeff has a natural talent for putting things in perspective, keeping your eye on the prize, and clarifying the strategy to provide opportunities for success in your transaction.

A few of Jeff’s other certifications include NAR’s ePro for advanced digital marketing and NAR’s Green Designations for sustainability in real estate, Pricing Strategy Advisor (PSA) certification, Keller Williams’ BOLD program, and Tony Robbins’ Mastery University. He is also a member of the Institute for Luxury Marketing. These help him and his clients outpace the competition by selling at a higher price and getting offers accepted more often. This track record and partnership continue to provide repeat and referral business, the basis for his growing business.

Reach out to Jeff for a free consultation to discuss your real estate goals. He would be happy to make your goals his and utilize his extensive experience to make it happen.


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If you're looking for a reliable real estate advisor in California, consider contacting Jeff Lang. He offers a free consultation to discuss your real estate goals and help you achieve them using his vast experience in the field.