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 Ramon, CA 94583-1238
    $829,900
    1188
    sqft
    3
    Baths
    2
    Beds
    Welcome to an exceptional opportunity in a prime location! This townhouse-style condo features 2 spacious bedrooms, 2.
    Seal Beach, CA 90740
    $1,699,000
    1230
    sqft
    2
    Baths
    3
    Beds
    Nestled in the heart of Seal Beach's highly sought-after "The Hill" neighborhood, this one-of-a-kind three-bedroom, two-bath home offers the best of Southern California coastal living tra...
    Norwalk, CA 90650
    $720,000
    910
    sqft
    1
    Baths
    3
    Beds
    Welcome to Norwalk where this 3-bedroom, 1-bathroom home includes original wood floors, RV parking, and so much more! Thoughtful landscaping and neighborhood trees help to deliver wonderful curb appea...
    San Diego, CA 92109
    $1,495,000
    1945
    sqft
    3
    Baths
    3
    Beds
    Incredibly rare, almost 2,000 square foot single level condo, in the heart of Crown Point, Pacific Beach.
    Glendora, CA 91741
    $649,999
    1364
    sqft
    2
    Baths
    2
    Beds
    Welcome to 170 Oak Forest Circle, a beautifully maintained 2 bed, 2 bath condominium in the desirable Oak Forest community of Glendora.
    San Ramon, CA 94583
    $1,399,950
    1883
    sqft
    2
    Baths
    4
    Beds
    Price to sell - starting with the front yard curb appeal to the schools - Neil Armstrong, Pine Valley and Cal High in walking distance, this property has it all, including a motivated seller, 4 BRs & ...
    Concord, CA 94521-3638
    $898,000
    1697
    sqft
    2
    Baths
    3
    Beds
    Great location in a lovely neighborhood within walking distance to the local park.
    Brentwood, CA 94513
    $769,999
    2156
    sqft
    3
    Baths
    3
    Beds
    This rare opportunity offers one of the most desirable lots in Summerset, ideally located just steps from the clubhouse, golf course, and front gate no car needed! Enjoy resort-style living in a beau...
    Coachella, CA 92236
    $575,000
    1950
    sqft
    2
    Baths
    3
    Beds
    Beautifully Upgraded Home in the community of Sevilla in the growing city of Coachella! This spacious 3-bedroom, 2-bath home features a versatile den that can easily be converted into a 4th bedroom.
    Claremont, CA 91711
    $725,000
    1469
    sqft
    3
    Baths
    3
    Beds
    Very nice townhome in the Stone Creek community.
    Montecito, CA 93108
    $3,995,000
    2738
    sqft
    4
    Baths
    4
    Beds
    Light, bright, and newly renovated, this Montecito home offers easy living behind a charming white picket fence.
    Simi Valley, CA 93065
    $999,000
    2581
    sqft
    3
    Baths
    4
    Beds
    Welcome to this beautifully updated 4-bedroom, 3-bath condo nestled in the highly sought-after Wood Ranch community of Simi Valley.
    San Diego, CA 92129
    $1,899,900
    2503
    sqft
    3
    Baths
    5
    Beds
    Nestled on a quiet cul-de-sac, this beautifully updated 5-bedroom, 3-bathroom home offers space, comfort, and thoughtful upgrades, plus a 3-car garage and a backyard designed for both relaxation and e...
    Berkeley, CA 94705
    $2,200,000
    2048
    sqft
    3
    Baths
    3
    Beds
    A Rare Architectural Legacy! Built in 1912 by Walter Ratcliff, this exceptional 3BD/2.
    Lake Arrowhead, CA 92352
    $525,000
    1616
    sqft
    3
    Baths
    3
    Beds
    TurnKey Lake Arrowhead retreat in highly sought after, Lake Arrowhead Villa's! Quarterly HOA due's includes your water, trash pick up and snowplowing.
    Palm Springs, CA 92262
    $1,350,000
    2315
    sqft
    3
    Baths
    3
    Beds
    Nestled in the coveted Vermillion area of the prestigious Escena Community, this modern 2,315 sq ft residence offers a rare chance to own a golf course property epitomizing luxurious desert living.
    Forbestown, CA 95941
    $84,900
    1244
    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.
    Ontario, CA 91761
    $785,000
    2131
    sqft
    3
    Baths
    4
    Beds
    Better than a model home!! Over $100,000 in upgrades and owned solar! Do not miss out on this STUNNING, Luxury Smart home.
    San Diego, CA 92101
    $1,945,000
    1684
    sqft
    2
    Baths
    2
    Beds
    Welcome to Residence 3201 at The Grande South a beautifully reimagined 2BR + Den, 2BA corner home with sweeping northwest views of the bay, city skyline, and Coronado.
    San Diego, CA 92116
    $499,000
    654
    sqft
    1
    Baths
    1
    Beds
    Welcome to your private retreat in one of San Diegos most vibrant and walkable neighborhoods, Normal Heights! This beautiful top-floor 1-bed + loft, 1-bath condo offers rare space, style, and flexibil...


    ​​​​​​​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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