San Diego Real Estate Market Update - 2015 Recap and 2016 Forecast


Happy Holidays! Big news as Fed raises rates this week. 2015 price and inventory trends continue.
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Los Angeles, CA 90065
$1,499,000
1772
sqft
2
Baths
4
Beds
Click above on virtually staged video of this Hillside retreat w/extra large backyard located on a peaceful street and set back from the road, this inviting Mid-Century single-level home offers an abu...
Marina del Rey, CA 90292
$2,095,000
970
sqft
2
Baths
2
Beds
Experience coastal luxury in this stunning oceanfront condo, where high ceilings and elegant finishes create a serene beach retreat.
Los Angeles, CA 90066
$849,000
841
sqft
2
Baths
2
Beds
Ideally sited in coveted Mar Vista, stands this newly updated townhome with a spacious, sun-drenched patio.
Los Angeles, CA 90046
$1,999,998
0
sqft
0
Baths
0
Beds
AMAZING PRICE!! Presenting a 4-unit property spread across two separate parcels, each with its OWN ADDRESS exceedingly rare feature that simplifies leasing and management.
Chatsworth, CA 91311
$680,000
832
sqft
1
Baths
3
Beds
STUNNING SUNRISES AND REFRESHING HILLSIDE VIEWS on over 18,500 sq ft of beautifully landscaped property that is priced to sell.
Inglewood, CA 90302
$579,000
748
sqft
1
Baths
2
Beds
This charming 1920's home is located in the highly desirable neighborhood of North Inglewood on a quiet cul-de-sac street & blocks away to the local elementary school and the biggest park in Ingle...
Encino, CA 91316
$1,699,000
1906
sqft
3
Baths
3
Beds
Welcome to 5700 Ostrom.
Ventura, CA 93004
$1,350,000
2810
sqft
4
Baths
4
Beds
Immerse yourself in the epitome of refined living with this stunning home nestled in the sought-after Groves community.
Culver City, CA 90232
$1,995,000
1952
sqft
2
Baths
4
Beds
Taken down to the studs and completely renovated in 2024, this 4-bed, 2-bath home exudes what Southern California living is all about: effortless comfort and style.
Venice, CA 90291
$1,699,000
1309
sqft
2
Baths
2
Beds
Proof positive that good things definitely come in small (.
Beverly Hills, CA 90210
$25,000,000
11000
sqft
10
Baths
7
Beds
This timeless Beverly Hills estate embodies the perfect blend of modern sophistication, luxury, and family warmth, set on an expansive 22,418 sq ft lot in the heart of the prestigious Flats.
Inglewood, CA 90305
$619,000
1493
sqft
2
Baths
3
Beds
Discover the perfect blend of comfort and convenience in this stunning 3-bedroom, 2-bath townhouse-style condo, located in the exclusive Briarwood gated community in the heart of Inglewood.
Playa del Rey, CA 90293
$999,000
1543
sqft
2
Baths
2
Beds
Welcome to 8180 Manitoba St #342, an extraordinary top-floor, corner condo in one of the complex's best locations, offering stunning, unobstructed views that stretch to the ocean and showcase brea...
Playa del Rey, CA 90293
$1,270,000
1359
sqft
2
Baths
2
Beds
Mediterranean charm and Marina channel and lagoon views come together in this 2Bd+2Bath condo.
North Hills, CA 91343
$899,000
1191
sqft
2
Baths
3
Beds
Step into this beautifully maintained 3-bedroom, 2-bathroom home in a highly desirable neighborhood in the heart of Northridge.
Los Angeles, CA 90008
$2,800,000
4578
sqft
4
Baths
5
Beds
Stunning completely remodeled 5-bedroom 4-bath spectacular view home in Baldwin Hills Estates.
Santa Monica, CA 90405
$1,699,000
1947
sqft
3
Baths
3
Beds
Rare opportunity to own a stunning, newly renovated 2,000 SF, 3-bed, 2.
Los Angeles, CA 90036
$3,495,000
5257
sqft
8
Baths
7
Beds
Newly Built Modern Luxury Estate in Prime Los Angeles Unmatched Design and Outdoor Oasis! This stunning gated estate, a newly built home, offers an impeccable blend of contemporary design, timeless l...
Idyllwild, CA 92549
$435,000
1500
sqft
2
Baths
1
Beds
Escape to tranquility in this off-grid haven, where modern comfort meets nature's embrace.
North Hollywood, CA 91606
$1,049,000
1330
sqft
2
Baths
3
Beds
Stunning Newly Remodeled SFR in North Hollywood/Valley Glen Ideal for Boarding Care Facility or Investment Opportunity.


​​​​​​​Transcript:

Hi everybody, John Collins, San Diego Realtor. Brining you the December market update, but really a look at , San Diego's realestate market as a whole, and then looking forward to , what we might expect. I'll also be talking about the big news, which was just yesterday the Fed, after close to a decade, just raised the interest rate for the first time in that length of time. And, what that means for buyers and sellers, we'll talk a little bit about that.

Now, has been a good year, and looking forward, is probably going to be a pretty good year as well. Values from January tonow, across San Diego County, the median price is up close to eight percent. So that's great, obviously. Now, inventory on the other hand is low, it has been low. We saw the typical increase during the busy moths of the summer but it's always been lower than normal and right now it's down about twelve percent from where it was at the beginning of the year. So that's going to continue to keep demand high, obviously, and prices, that's an upward pressure on price.

Some of the indicators going forward are good. New construction is up, largely multi-family homes, which is going to be really the future trend for homes in San Diego. But all this is good. The Fed rate increase, what they said is that they are going to now increase the interest rate from basically zero, where it's been for a long time, they're going to increase it a quarter to half a percent. Now, while that doesn't directly relate to the mortgage rate, how much it's going to go up, it's not a one for one increase, but that is an upward pressure on the mortgage rate so we'll see
how those start creeping up. Now, it's not a big increase and it's not going to create a huge difference right away, but this is a strong indicator that things are going to continue to go up over time. We've been at just crazy low rates for so long. People are used to three and a half or four percent, and really, historically, that is just so low. On a year average, seven or eight percent really is closer to the norm. And, so, while we won't be seeing that anytime
soon, I'm happy to say, it is reasonble to expect a couple of percent over the next year or two years, it's not crazy to think. That really does eat into the buying power of buyers and it creates a smaller segment of people for sellers who can afford their home, so this is an important thing to pay attention to going into .

That said, growth is anticipated to continue through . As a state, they are looking at three to four percent. Probably, that's what they're predicting. But, real estate is a cyclical thing, so it will not keep going up forever. The good news is that with this relatively slow and steady growth over time we can expect the adjustments to be a lot more palletable than what we saw in the Great Recession, which was obviously a great catastrophe.

Now, San Diego itself is a great market to be involved in. It was just identified by Realtor.com as the third hottest market in the country. Now that's based on activity and values and where they expect that to go. They're very bullish on this market for the coming year. So, that's great news.

I hope this is information that is useful to you and gives you confidence in the coming year. I know in this day and age it's hard to know what's going to happen next and the good news is that things are looking great for San Diego Real Estate in the coming year. If there are questions I can answer for you, please don't hesitate to reach out to me. Let me know. I really welcome the opportunity to help. In the mean time, I hope you have a great day, Happy Holidays, Happy New Year. Enjoy this time and this gorgeous city we live in, America's Finest City, and I'll look forward to talking to you soon. Take care.

John Collins

John Collins

DRE# 01948188
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