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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  • Canoga Park, CA 91304
    $699,999
    1210
    sqft
    2
    Baths
    3
    Beds
    This wonderful entertainers POOL home is located on a quiet cul-de-sac in one of Canoga Parks most sought-after neighborhoods.
    Los Angeles, CA 90077
    $1,150,000
    844
    sqft
    1
    Baths
    2
    Beds
    Enchanting Light and Bright pied-a-terre Two Bedroom, one Bathroom home located on a tucked away quiet street in Bel Air-Holmby Hills.
    Santa Monica, CA 90404
    $1,199,000
    1495
    sqft
    3
    Baths
    3
    Beds
    Welcome to this beautifully renovated and well maintained town house in premier Santa Monica location.
    Victorville, CA 92395
    $559,000
    2226
    sqft
    3
    Baths
    4
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    San Mateo, CA 94403
    $2,380,000
    2188
    sqft
    3
    Baths
    4
    Beds
    This 4 Bed, 2.
    Carson, CA 90746
    $739,000
    1872
    sqft
    3
    Baths
    4
    Beds
    Bring your tool kit and paint brush to this to make it your home.
    Anaheim Hills, CA 92807
    $1,279,000
    2242
    sqft
    2
    Baths
    3
    Beds
    Discover the ultimate backyard oasis at 650 S Pathfinder Trail, where breathtaking mountain and city views complement this elegant 3-bedroom, 2-bathroom single-story home.
    Studio City, CA 91604
    $1,795,000
    1456
    sqft
    2
    Baths
    2
    Beds
    Beautifully updated traditional style home in Studio City! This lovely sun-filled home offers 2 bedrooms and 2 bathrooms with refined, designer finishes throughout.
    Moreno Valley, CA 92553
    $499,900
    1432
    sqft
    2
    Baths
    3
    Beds
    Welcome to your dream home in a charming, Highly desirable, family neighborhood, Renaissance Park! This beautifully maintained 3-bedroom, 2-bath home offers the perfect blend of comfort and convenienc...
    Felton, CA 95018
    $786,000
    1164
    sqft
    2
    Baths
    2
    Beds
    Welcome to 234 Waner Way, a beautifully updated 2-bedroom, 2-full bathroom home nestled in a quintessential wooded neighborhood positioned on Zayante Creek just minutes from downtown Felton.
    Los Angeles, CA 90024
    $1,195,000
    2160
    sqft
    3
    Baths
    2
    Beds
    Tremendous value in the Wilshire Corridor, perfect for end user or investor alike.
    Indio, CA 92203
    $645,000
    2012
    sqft
    3
    Baths
    4
    Beds
    MOTIVATED SELLER!!! Welcome to Terra Lago in North Indio.
    Beverly Hills, CA 90210
    $7,995,000
    6500
    sqft
    5
    Baths
    4
    Beds
    Welcome to an exquisite modern residence in the heart of Beverly Hills.
    San Jose, CA 95126
    $594,995
    824
    sqft
    1
    Baths
    1
    Beds
    Look no further, Unit 356 offers everything you are looking to have in an efficiently designed urban home! It is spacious and immaculate and has been freshly painted throughout.
    Irvine, CA 92620
    $580,000
    1856
    sqft
    2
    Baths
    2
    Beds
    This is a large Signature home having 1,856 square feet, 2 Bedrooms/2 Bathrooms, plantation shutters, slider to large patio.
    Fontana, CA 92336
    $409,990
    854
    sqft
    2
    Baths
    1
    Beds
    Welcome to 16620 Wyndham Ln #12, a beautifully upgraded townhome in the desirable Gabion Ranch community.
    Phelan, CA 92371
    $250,000
    984
    sqft
    1
    Baths
    2
    Beds
    Singlewide home in great location.
    Rialto, CA 92377
    $589,990
    1937
    sqft
    3
    Baths
    3
    Beds
    NEW CONSTRUCTION! Ready for Immediate Move-in! A spacious front porch leads into the first level of this two-story home, where the Great Room, dining room and kitchen can be found among an open floorp...
    San Diego, CA 92111
    $1,239,000
    1196
    sqft
    2
    Baths
    3
    Beds
    Discover modern luxury in this beautifully renovated single-level home, where every inch has been thoughtfully upgraded for both style and functionality.
    Lake Elizabeth, CA 93532
    $479,000
    1200
    sqft
    2
    Baths
    3
    Beds
    Don't miss this custom built 3 bedroom, 2 bath home on 2 large lots.


    ​​​​​​​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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