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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  • Alhambra, CA 91803
    $1,099,000
    1466
    sqft
    2
    Baths
    3
    Beds
    Rarely find beautiful single house in the market for the first time over 30 years+, with large lot 7622 sf, and alley at the back, perfect for add ADU.
    San Jose, CA 95123
    $1,599,999
    1410
    sqft
    2
    Baths
    4
    Beds
    Location ! Location !Good Location ! This LUXURIOUSLY RENOVATED single-story home is nestled in a Quiet, Family-friendly Santa Teresa neighborhood with top-rated schools.
    Daly City, CA 94015
    $1,299,000
    1790
    sqft
    2
    Baths
    4
    Beds
    Welcome to this beautifully updated 4-bedroom, 2-bathroom home, offering 1,790 square feet of thoughtfully designed living space.
    Palo Alto, CA 94306
    $3,995,000
    2542
    sqft
    3
    Baths
    4
    Beds
    Cherished by the same family for many years, this spacious two-story home offers an incredible opportunity in one of Palo Altos most desirable neighborhoods.
    Campbell, CA 95008
    $1,799,000
    1252
    sqft
    2
    Baths
    4
    Beds
    Welcome Home to 1786 Villarita Drive in Campbell! Located on a nice, quiet street in this very desirable Moreland neighborhood, your new home has been tastefully updated and renovated.
    Hayward, CA 94544
    $599,000
    1042
    sqft
    2
    Baths
    1
    Beds
    Welcome to 29255 Hub Ct! Modern Comfort Meets Contemporary Style! Built in 2020, this luxurious townhome-style condominium combines elegant design with everyday functionality.
    Aptos, CA 95003
    $2,750,000
    4200
    sqft
    5
    Baths
    6
    Beds
    Privacy and location convenience at 532 Moonrise Lane! A once every few decades offering of open and modern living space and located less than a 1 minute drive to the new Aptos Village.
    San Jose, CA 95124
    $2,098,000
    2545
    sqft
    3
    Baths
    4
    Beds
    Freshly updated and move-in ready, this 4-bedroom executive home is located in Cambrians highly desirable Palacio community.
    San Jose, CA 95123
    $1,348,000
    1223
    sqft
    2
    Baths
    3
    Beds
    Behind double front doors, this South San Jose 3-bedroom, 2-bathroom single-family home offers 1,223 sq ft of comfort, style & thoughtful upgrades.
    Cupertino, CA 95014
    $8,299,000
    5576
    sqft
    3
    Baths
    3
    Beds
    Modern elegance meets comfort at this stunning Cupertino estate and home of R&W Vineyards and winery.
    San Francisco, CA 94105
    $1,248,000
    1019
    sqft
    2
    Baths
    2
    Beds
    Modern living at the Watermark in the heart of San Francisco.
    Cupertino, CA 95014
    $1,099,000
    1154
    sqft
    2
    Baths
    2
    Beds
    This exquisite 2-bedroom, 2-bathroom condo, spanning 1,154 square feet, blends modern elegance with unparalleled convenience.
    San Jose, CA 95122
    $749,888
    1170
    sqft
    2
    Baths
    3
    Beds
    This is your chance to own a stylish and move-in-ready 3-bedroom, 2-bath townhome offering thoughtful upgrades, a private outdoor space, and unbeatable value in the heart of Silicon Valley.
    Scotts Valley, CA 95066
    $2,288,000
    3344
    sqft
    4
    Baths
    4
    Beds
    Welcome to 221 Sunset Terrace.
    Pollock Pines, CA 95726
    $620,000
    2002
    sqft
    3
    Baths
    3
    Beds
    An updated and spacious retreat on a generous 0.
    Morgan Hill, CA 95037
    $825,000
    1674
    sqft
    3
    Baths
    2
    Beds
    Quaint and full of charm, this end-unit townhome in desirable Morgan Village offers nearly 1,700 sq ft of well-designed living space.
    Oakland, CA 94605
    $569,500
    996
    sqft
    2
    Baths
    2
    Beds
    This charming 2-bedroom, 1.
    Foster City, CA 94404
    $798,888
    1060
    sqft
    2
    Baths
    2
    Beds
    Top floor unit , fully updated 2 bedroom 2 bath, new kitchen and stainless steel appliances, wine cooler with quartz conuter top, crown molding, recessed lighting, very large living room with sunny di...
    San Jose, CA 95136
    $850,000
    1200
    sqft
    2
    Baths
    2
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    San Jose, CA 95125
    $665,000
    1071
    sqft
    2
    Baths
    2
    Beds
    Welcome to this charming 2-bedroom, 2-bathroom home located in the vibrant city of San Jose.


    ​​​​​​​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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