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 Jose, CA 95126
    $1,598,000
    1660
    sqft
    2
    Baths
    3
    Beds
    In a prime Rose Garden neighborhood and newly remodeled, this expanded Mediterranean Revival home with 3 bedrooms and 2 full baths in 1,660 sq.
    Monterey, CA 93940
    $990,000
    1249
    sqft
    3
    Baths
    5
    Beds
    For the first time in over 60 years, this beloved Old Town Monterey home is ready for a new chapter.
    Carmel, CA 93923
    $675,000
    1000
    sqft
    1
    Baths
    1
    Beds
    This 1 bed, 1 bath, D model floor plan brings in great natural light with its open and airy floor plan.
    Vacaville, CA 95687
    $902,750
    3206
    sqft
    4
    Baths
    5
    Beds
    New Construction - July Completion! Built by Taylor Morrison, America's Most Trusted Homebuilder.
    San Jose, CA 95124
    $2,288,000
    1910
    sqft
    3
    Baths
    4
    Beds
    Beautifully remodeled 4-bed, 3-bath home directly across from a peaceful park in the desirable Cambrian area.
    Pacific Grove, CA 93950
    $2,385,000
    1835
    sqft
    3
    Baths
    4
    Beds
    Rebuilt and expanded a few years ago blocks from dining and shopping, with charming architecture and the comfort of modern amenities, this home is bright and airy with high ceilings and an abundance o...
    Lodi, CA 95242
    $465,000
    1104
    sqft
    2
    Baths
    3
    Beds
    Welcome to this beautifully remodeled 3-bedroom, 2-bath home with a 2-car garage located in the highly desirable Vinewood & Mills neighborhood of Loveable, Livable Lodi.
    Cupertino, CA 95014
    $2,799,000
    1737
    sqft
    2
    Baths
    4
    Beds
    Welcome to a distinctive and stunning property nestled in prime location with Top Cupertino schools! This exceptional one story home is composed of two distinct buildings, sits on a sprawling 9,375 sq...
    San Jose, CA 95126
    $2,795,000
    2827
    sqft
    3
    Baths
    4
    Beds
    Wonderful location in the desirable RoseGarden.
    Mountain View, CA 94041
    $1,800,000
    1039
    sqft
    1
    Baths
    2
    Beds
    Handy man special in Desirable neighborhood, 3.
    Antioch, CA 94509
    $399,900
    1342
    sqft
    2
    Baths
    3
    Beds
    A beautifully renovated townhome nestled in one of Antiochs most commuter friendly and high demand neighborhoods.
    La Selva Beach, CA 95076
    $2,499,000
    1750
    sqft
    4
    Baths
    4
    Beds
    Live the beach life! At the end of a country road in South Santa Cruz County just past Sea Horse Lane and the Sand Dollar development near La Selva Beach you will discover an intimate community of ho...
    Richmond, CA 94801
    $499,000
    1520
    sqft
    2
    Baths
    2
    Beds
    Welcome to Brickyard Landing, where sophistication meets stunning natural beauty.
    Palo Alto, CA 94303
    $6,748,888
    3066
    sqft
    3
    Baths
    5
    Beds
    Tucked along one of Crescent Parks most picturesque, tree-lined avenues, this exceptional residence blends timeless architecture with modern elegance.
    Santa Clara, CA 95051
    $789,000
    920
    sqft
    1
    Baths
    2
    Beds
    Welcome to this well-maintained 2-bedroom, 1-bath condo in the desirable gated community of Miramar Plaza.
    Suisun City, CA 94585
    $555,000
    1304
    sqft
    2
    Baths
    4
    Beds
    Welcome to 508 Gadwall Drive in Suisun City! A beautifully updated 4-bedroom, 2-bathroom home offering 1,304 sq ft of stylish living space.
    Campbell, CA 95008
    $950,000
    1332
    sqft
    3
    Baths
    2
    Beds
    Welcome to This Beautiful Townhome in the Heart of Campbell! Located within walking distance to The Pruneyard, this charming and spacious townhome offers the perfect blend of comfort, convenience, and...
    Redwood City, CA 94062
    $1,099,000
    1500
    sqft
    3
    Baths
    2
    Beds
    Beautifully maintained 2-bedroom, 2.
    Newark, CA 94560
    $1,375,000
    2129
    sqft
    4
    Baths
    4
    Beds
    Welcome to the Medina plan at Marabel by Robson Homes, a stunning 4-bedroom, 3.
    San Jose, CA 95138
    $1,249,888
    1653
    sqft
    3
    Baths
    3
    Beds
    Get ready to fall in love with this light-filled beauty! This cheerful home is bursting with natural sunlight, scenic views, and all the right vibes for easy living.


    ​​​​​​​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
    Inquire Now

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