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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  • San Diego, CA 92110
    $1,689,000
    1490
    sqft
    2
    Baths
    4
    Beds
    Perched on an elevated 8,500 sq ft corner lot in Bay Park, this fully renovated 4 Bedroom, 2 Bath, Mid-Century Modern home offers style, function, and unbeatable potential.
    San Jose, CA 95127
    $1,139,888
    1340
    sqft
    1
    Baths
    2
    Beds
    WELCOME TO AN AMAZING SPANISH-STYLE, LOTS OF CHARACTER, SUN LIT, HOME !!! NESTLED IN THE EAST FOOTHILLS WITH A 7,200-SQUARE-FOOT LOT READY FOR YOU TO BUILD YOUR ADU, OR WHATEVER YOU CAN DREAM OF BU...
    Roseville, CA 95661
    $700,000
    2114
    sqft
    3
    Baths
    4
    Beds
    Ideally situated directly across from beautiful Maidu Park, this spacious 4-bedroom, 2,100 sq.
    Oceanside, CA 92056
    $575,000
    827
    sqft
    1
    Baths
    2
    Beds
    Enjoy ocean views from your light and bright living room or while relaxing on the front porch of this single-level home in the desirable 55+ community of Costa Serena.
    Vallejo, CA 94591
    $549,000
    1411
    sqft
    3
    Baths
    2
    Beds
    This charming two-bedroom, light, bright two-and-a-half-bathroom home offers approximately 1,411 square feet of living space.
    Cupertino, CA 95014
    $2,650,000
    1412
    sqft
    2
    Baths
    3
    Beds
    Welcome to 18844 Arata Wayideally located in the heart of Silicon Valley! Just minutes from the iconic Apple Spaceship Campus, this charming 3-bedroom, 2-bathroom home offers comfort, convenience, and...
    Mountain View, CA 94043
    $2,098,000
    2161
    sqft
    4
    Baths
    4
    Beds
    Find your dream home, a 2018 masterpiece that artfully combines quality, space, style, and convenience in the heart of Silicon Valley.
    San Diego, CA 92115
    $875,000
    1016
    sqft
    2
    Baths
    3
    Beds
    Range: $795K-$875K: Charming Single-Level Home in the College Area! This beautifully updated home sits on an expansive lot, ideal for entertaining and outdoor living.
    Richmond, CA 94804
    $795,000
    2123
    sqft
    2
    Baths
    4
    Beds
    Welcome to 647 Stege Avenue, a charming and spacious North East-facing corner-lot home in Richmond offering 2,123 square feet of sun-filled living space.
    Danville, CA 94526
    $949,000
    1283
    sqft
    3
    Baths
    3
    Beds
    Get ready to fall in love with this beautifully updated end-unit townhome in the heart of Downtown Danville! Step inside to a bright, open living space drenched in natural light, perfect for relaxing ...
    Palo Alto, CA 94303
    $2,998,000
    1494
    sqft
    2
    Baths
    4
    Beds
    Welcome to this charming Eichler home, recently remodeled by a specialized Eichler contractor who thoughtfully preserved the iconic Eichler design.
    Berkeley, CA 94708
    $2,295,000
    3490
    sqft
    4
    Baths
    4
    Beds
    Breathtaking Bay, SF and Golden Gate views from nearly every room greet you in this expansive, nearly new contemporary Craftsman, steps from the Rose Garden and all that No.
    San Jose, CA 95125
    $2,099,000
    1966
    sqft
    3
    Baths
    3
    Beds
    Willow Glen single level home beautifully remodeled with hardwood floors.
    Fairfield, CA 94533
    $529,000
    1696
    sqft
    2
    Baths
    4
    Beds
    Welcome to 2267 Channing Ct.
    Los Altos, CA 94022
    $8,495,000
    4866
    sqft
    5
    Baths
    6
    Beds
    Private.
    San Jose, CA 95124
    $2,599,000
    2247
    sqft
    3
    Baths
    4
    Beds
    Rare opportunity! South facing 1-story home on 10K SF Lot in best of Cambrian Park, bordering Los Gatos! Well-maintained, beautifully updated 4 BD 3BA 2,247 SF thoughtfully designed living space, blen...
    Oakland, CA 94618
    $1,310,000
    1826
    sqft
    2
    Baths
    2
    Beds
    Step into timeless elegance with this beautifully preserved 1919 Arts and Crafts home, offering nearly 1,900 square feet of refined living space.
    Gilroy, CA 95020
    $1,398,000
    2436
    sqft
    3
    Baths
    4
    Beds
    Welcome home to a recently built single-level residence that perfectly balances contemporary elegance w/peaceful, relaxed living.
    San Mateo, CA 94403
    $3,998,000
    3750
    sqft
    4
    Baths
    4
    Beds
    Luxury meets comfort in the most astonishing way! Welcome to this contemporary gem in Beresford Manor.
    Aptos, CA 95003
    $1,549,000
    1420
    sqft
    2
    Baths
    2
    Beds
    Escape the ordinary & discover the allure of 202 Santa Clara Ave, a move in ready, bright & airy 2BD/2BA single level home nestled right in the heart of Seacliff.


    ​​​​​​​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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