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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  • La Mirada, CA 90638
    $899,900
    1739
    sqft
    2
    Baths
    3
    Beds
    Welcome to this beautiful 3 bedroom, 2 bath home located within walking distance to Escalona Elementary and Windermere Park! Freshly painted, this 1,739sf home exudes charm with its inviting curb app...
    Santa Clarita, CA 91390
    $1,050,000
    3482
    sqft
    3
    Baths
    4
    Beds
    Welcome to this beautifully designed, move-in-ready home nestled in the heart of Santa Clarita! Boasting 4 spacious bedrooms, 3 bathrooms, and a spacious downstairs den, this home is perfect for your ...
    San Diego, CA 92127
    $6,190,000
    6523
    sqft
    5
    Baths
    4
    Beds
    This absolutely stunning custom estate in The Crosby at Rancho Santa Fe was completed in 2022, making it one of the newest homes in this prestigious community! Situated on a quiet, beautiful street l...
    Moorpark, CA 93021
    $884,900
    1723
    sqft
    3
    Baths
    4
    Beds
    Located in a prime cul-de-sac location in the heart of Moorpark, this light and bright 4-bedroom, 3-bath home offers 1,723 sq.
    Westlake Village, CA 91361
    $1,439,900
    2336
    sqft
    3
    Baths
    4
    Beds
    Charming & Upgraded Retreat with Private Pool in Coveted Foxmoor Cove! Welcome to 2026 Bridgegate Court--a beautifully appointed 4-bedroom, 3-bathroom home offering 2,336 square feet of stylish living...
    La Jolla, CA 92037
    $5,195,000
    3100
    sqft
    6
    Baths
    5
    Beds
    Steps from iconic Windansea Beach, in the highly sought after Beach Barber tract neighborhood, this brand-new custom-built masterpiece blends modern luxury with timeless coastal charm.
    Sacramento, CA 95838
    $1,150,000
    2625
    sqft
    3
    Baths
    4
    Beds
    The owner is motivated and willing to offer financing to the right buyer.
    Danville, CA 94506
    $2,088,000
    3281
    sqft
    3
    Baths
    4
    Beds
    Private and quiet cul-de-sac location.
    Pleasanton, CA 94566
    $1,399,000
    1993
    sqft
    3
    Baths
    4
    Beds
    East facing cosmetic fixer-upper in premium Vintage Hills location on sprawling private .
    Los Angeles, CA 90066
    $979,000
    770
    sqft
    1
    Baths
    2
    Beds
    Welcome to 12420 Verdi, a light-filled beachy bungalow tucked away on a quiet, tree-lined street in the heart of Del Rey.
    Oakland, CA 94602
    $295,000
    857
    sqft
    1
    Baths
    2
    Beds
    Welcome to 2901 MacArthur Blvd, Unit 203.
    Hayward, CA 94541
    $649,000
    1797
    sqft
    3
    Baths
    2
    Beds
    VIEWS VIEWS VIEWS.
    Palm Springs, CA 92262
    $287,500
    854
    sqft
    1
    Baths
    1
    Beds
    Welcome to Riviera Gardens! This spacious and move-in ready 1 bedroom, 1 bathroom first-floor condo offers comfort, style, and convenience in one of Palm Springs' most desirable gated communities.
    Granada Hills, CA 91344
    $899,000
    1583
    sqft
    3
    Baths
    4
    Beds
    Nestled on a quiet street in the highly desirable Granada Hills neighborhood, this beautifully maintained mid-century home effortlessly combines classic charm with thoughtful modern upgrades.
    Murrieta, CA 92563
    $644,900
    2099
    sqft
    3
    Baths
    3
    Beds
    This lovely two story, 2099 sq ft home features 3bd, 2.
    Berkeley, CA 94705
    $1,750,000
    3199
    sqft
    3
    Baths
    5
    Beds
    Exquisite custom-built luxury residence with Au Pair Unit.
    Sun Valley, CA 91352
    $844,900
    1250
    sqft
    2
    Baths
    3
    Beds
    Welcome to your beautifully upgraded Sun Valley retreat, nestled on a quiet cul-de-sac! This charming 3-bedroom, 2-bathroom home blends modern comfort with exceptional convenience.
    Los Angeles, CA 90012
    $590,000
    1284
    sqft
    2
    Baths
    2
    Beds
    Don't miss an opportunity to own a piece of history with this unique 1896 home located at the edge of Chinatown.
    San Diego, CA 92101
    $3,595,000
    2640
    sqft
    3
    Baths
    3
    Beds
    Step into the epitome of luxury living with this ultra-rare sub-penthouse at the prestigious Pinnacle tower.
    San Diego, CA 92154
    $775,000
    1685
    sqft
    2
    Baths
    3
    Beds
    NEW Roof (2024), NEW Solar & NEW Carpet! This thoughtfully upgraded home welcomes you with soaring vaulted ceilings and rich wood beam accents that add warmth and character.


    ​​​​​​​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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