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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  • Newark, CA 94560
    $1,099,900
    1100
    sqft
    2
    Baths
    3
    Beds
    Tucked away in a quiet cul-de-sac sits a desirable single-family home on a large lot! The ideal single-story layout includes spacious bedrooms, a picturesque living room with a perfect view of the yar...
    Victorville, CA 92395
    $360,000
    1283
    sqft
    2
    Baths
    2
    Beds
    COZY 2BD, 2BTH Single Family Home located in a Quiet Area of Victorville with 2 CAR Garage.
    Glendale, CA 91203
    $549,988
    914
    sqft
    2
    Baths
    2
    Beds
    Welcome to this charming condominium nestled in Glendale! This unit boasts 2 bedrooms and 2 bathrooms, perfect for comfortable living.
    Perris, CA 92570
    $545,600
    1740
    sqft
    2
    Baths
    3
    Beds
    This 1 story Alexandrite floor plan offers 3 Bedrooms plus Study & 2 Baths.
    Hayward, CA 94544
    $949,888
    1360
    sqft
    2
    Baths
    3
    Beds
    Newly remodeled single family home in a desirable Hayward neighborhood! Featuring a spacious living room with a separate dining area and three large bedrooms and two full baths.
    Hayward, CA 94545
    $650,000
    1220
    sqft
    2
    Baths
    3
    Beds
    Discover this sought-after end unit, single story gem! Recent upgrades include freshly painted interiors and new floors.
    Rancho Mirage, CA 92270
    $1,595,000
    3615
    sqft
    4
    Baths
    3
    Beds
    Step into luxury with this stunning 3,615 sqft Muirfield floorplan, where dramatic white-washed wood beamed vaulted ceilings creates an inviting atmosphere throughout the living and dining areas.
    San Jose, CA 95136
    $675,000
    1067
    sqft
    2
    Baths
    2
    Beds
    Discover this charming upper-level condo with 2 bedrooms, 2 bathrooms, and 1,067 square feet of comfortable living space.
    San Diego, CA 92127
    $460,000
    745
    sqft
    1
    Baths
    1
    Beds
    Welcome to Your Rancho Bernardo Condo! This beautifully designed one-bedroom, one-bathroom condo spans 745 square feet and is ready to impress.
    Perris, CA 92570
    $595,165
    2375
    sqft
    3
    Baths
    4
    Beds
    The Pearl Model, two story home offers 4 Bedrooms + 3 Baths + Loft (Bedroom and a full bath downstairs).
    Gilroy, CA 95020
    $2,225,000
    2904
    sqft
    4
    Baths
    4
    Beds
    Welcome to your dream retreat nestled in the heart of South County vibrant winery region! This beautifully updated 4 bedroom, 3.
    Simi Valley, CA 93065
    $1,830,000
    4502
    sqft
    5
    Baths
    5
    Beds
    Welcome to your dream home! Nestled in the highly sought-after Castlewood neighborhood in Big Sky, this spacious 5-bedroom, 4.
    Ventura, CA 93003
    $1,199,900
    1477
    sqft
    2
    Baths
    3
    Beds
    Welcome to 49 Teloma Drive, where timeless design meets California living! This stunning mid-century modern home boasts an open floor plan filled with natural light, showcasing iconic architectural de...
    Vista, CA 92081
    $577,000
    1622
    sqft
    2
    Baths
    3
    Beds
    Welcome to this 3-bedroom, 2-bath spacious open plan home, located in the active 55 plus senior living community of Vista Del Mar where you own the land! This home has been recently painted and shows ...
    Ontario, CA 91764
    $519,535
    956
    sqft
    2
    Baths
    2
    Beds
    MLS#IG24224057 REPRESENTATIVE PHOTOS ADDED.
    Carmel Valley, CA 93924
    $2,225,000
    2312
    sqft
    3
    Baths
    2
    Beds
    Gated, private, tranquil, and timeless, a unique custom Adobe home that is located in the heart of beautiful Carmel Valley village.
    Hayward, CA 94545
    $858,888
    1128
    sqft
    2
    Baths
    3
    Beds
    This beautifully updated three-bedroom, two-bath home sits on one of the largest lot on the block! Featuring a brand-new kitchen, and open concept living space.
    Los Angeles, CA 90068
    $1,999,000
    2864
    sqft
    3
    Baths
    4
    Beds
    Hollywood Hills/Studio City Opportunity with 180-Degree City Light Views Nestled in the highly sought-after Hollywood Hills/Studio City area, this modern property presents a rare opportunity to own an...
    Sunnyvale, CA 94085
    $899,000
    1012
    sqft
    2
    Baths
    2
    Beds
    Welcome to the Corte Madera community in the heart of the Silicon Valley! Rare opportunity to own a condo in Sunnyvale zoned to the award winning Homestead High School! Recently renovated, new floorin...
    Newark, CA 94560
    $1,299,000
    1320
    sqft
    2
    Baths
    3
    Beds
    Nestled the peaceful Newark neighborhood.


    ​​​​​​​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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