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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  • Apple Valley, CA 92307
    $554,800
    2601
    sqft
    3
    Baths
    4
    Beds
    Welcome to this Custom Built Home in Apple Valley that provides a seamless connection between indoor and outdoor living! Unbelievable this is the Original Owner, has had No Pets and is a Non-Smoking H...
    Oakland, CA 94621
    $650,000
    1580
    sqft
    2
    Baths
    5
    Beds
    Pre-Escrow opened with Chicago Title.
    Hesperia, CA 92345
    $619,000
    2100
    sqft
    3
    Baths
    4
    Beds
    GORGEOUS New Construction with an open floorplan.
    La Quinta, CA 92253
    $375,000
    912
    sqft
    2
    Baths
    2
    Beds
    This property is a dream for those seeking both luxury and leisure.
    Arcadia, CA 91006
    $1,198,000
    1732
    sqft
    3
    Baths
    2
    Beds
    Located in the heart of Arcadia, this luxury home is located on the fourth floor of a building with an interior area of 1,732 square feet, equipped with 2 bedrooms, 2.
    Perris, CA 92570
    $548,309
    1740
    sqft
    2
    Baths
    3
    Beds
    The Alexandrite is a 1 story floor plan that offers 3 Bedrooms plus Study & 2 Baths.
    Antioch, CA 94509
    $569,000
    1623
    sqft
    2
    Baths
    3
    Beds
    Welcome to this charming and meticulously maintained home on a large lot! Step into a bright and airy living room featuring a large bonus room that offers versatile flex space for all your activities.
    San Jose, CA 95123
    $499,000
    798
    sqft
    1
    Baths
    2
    Beds
    Welcome to 5517 Tyhurst Ct #4fully renovated and move-in ready! This modernized condo boasts brand-new flooring, stylish countertops, and contemporary finishes throughout, creating a bright and welcom...
    La Habra, CA 90631
    $729,999
    1432
    sqft
    3
    Baths
    2
    Beds
    Welcome to the vibrant VOLARA Community, a stunning new development by Bonanni where every detail has been thoughtfully curated for an exceptional living experience.
    San Francisco, CA 94115
    $2,899,000
    2362
    sqft
    3
    Baths
    4
    Beds
    Unobstructed & breathtaking views of the San Francisco skyline will knock you off your feet! This beautiful residence features panoramic, 180-degree views of downtown SF.
    San Diego, CA 92128
    $1,695,000
    2927
    sqft
    3
    Baths
    4
    Beds
    We welcome you to this fabulous home located in the prestigious Eastview community in Rancho Bernardo.
    Pleasanton, CA 94588
    $738,000
    1257
    sqft
    2
    Baths
    3
    Beds
    THIS IS IT! Pristine upgraded 3 BR, 2 BTH condo in prime location.
    San Diego, CA 92124
    $1,399,000
    1904
    sqft
    3
    Baths
    4
    Beds
    MOVE-IN READY home in the highly desirable neighborhood of Tierrasanta Norte! Freshly painted with 4 bedrooms/2.
    Crestline, CA 92325
    $449,900
    2109
    sqft
    2
    Baths
    4
    Beds
    Welcome to 22726 Laurel Lane - A large 2,109 sqft mountain home with RARE driveway parking and a BRAND NEW TWO CAR GARAGE that was just built! This charming 4 bedroom, 2 bathroom home with cozy wood-b...
    La Quinta, CA 92253
    $1,650,000
    3508
    sqft
    4
    Baths
    4
    Beds
    This highly desirable single-family residence boasts unparalleled luxury and comfort, perfectly positioned on the 11th tee of the La Quinta Resort Mountain Course.
    Livermore, CA 94551
    $1,499,900
    2125
    sqft
    3
    Baths
    4
    Beds
    Get ready to fall in love with this stunning two-story gem tucked away in the peaceful cul-de-sac of Rincon Estates, Livermore! Step inside to discover a chic kitchen featuring sleek black stainless ...
    Concord, CA 94520
    $459,000
    1086
    sqft
    2
    Baths
    3
    Beds
    Single Story End Unit Townhome with natural light! A great home for a first -time buyer, someone who is right sizing or as an investment! Kitchen features a pantry, frig, SS sink, breakfast bar and lo...
    Sugarloaf, CA 92386
    $599,916
    2559
    sqft
    3
    Baths
    4
    Beds
    Custom-Built Car Enthusiast's Dream Home on Expansive Corner Lot!This meticulously maintained multi-level home, owned by the same owner for over 40 years, is a true car lover's paradise.
    Berkeley, CA 94702
    $1,380,000
    1728
    sqft
    3
    Baths
    4
    Beds
    Incredible Opportunity to own a designer renovated home in ICONIC Berkeley in an amazing location close to BART & San Pablo Park! 1411 Ward offers 4 bedrooms and 3 full bathrooms with generous finish...
    San Lorenzo, CA 94580
    $775,000
    1276
    sqft
    1
    Baths
    3
    Beds
    Location, Location, Location.


    ​​​​​​​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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