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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  • Malibu, CA 90265
    $7,250,000
    1816
    sqft
    3
    Baths
    4
    Beds
    On Point Dume, steps away from the beach, a residence envisioned by world-renowned architect Michael Palladino was created.
    Richmond, CA 94804
    $625,000
    1883
    sqft
    176
    Baths
    3
    Beds
    Explore the potential of 127 Grove Street, Richmond, CAa distinctive fixer-upper with a canvas ready for your creativity.
    San Marcos, CA 92069
    $615,000
    1187
    sqft
    3
    Baths
    2
    Beds
    Charming townhome with dual master suites near Cal State San Marcos and Palomar College.
    San Diego, CA 92129
    $1,449,000
    1950
    sqft
    3
    Baths
    4
    Beds
    Immaculate bi-level 4 bedrooms (1 bedroom on main level), 2-1/2 bathroom home on an expansive view lot in highly desirable Rancho Penasquitos! Living & dining room with vaulted ceilings & ample natura...
    Martinez, CA 94553
    $649,999
    1150
    sqft
    2
    Baths
    3
    Beds
    Charming, beautifully updated single story tucked off the street.
    Woodland Hills, CA 91364
    $1,250,000
    1981
    sqft
    3
    Baths
    3
    Beds
    Rare opportunity to own a Mid-Century classic in one of Woodland Hills' most desirable neighborhoods on an extra-large lot.
    San Diego, CA 92104
    $899,000
    640
    sqft
    1
    Baths
    2
    Beds
    This beautifully updated craftsman style home blends timeless character with modern updates and charm.
    Bellflower, CA 90706
    $749,999
    1506
    sqft
    2
    Baths
    3
    Beds
    Spacious and inviting single-story home featuring 3 bedrooms and 2 bathrooms in the sought-after Downey Unified School District.
    Livermore, CA 94550
    $1,299,999
    1704
    sqft
    2
    Baths
    4
    Beds
    Just Listed! 1330 Juliet Ct, Livermore, CA Completely Updated Single-Story Gem! Step into modern comfort and style in this beautifully renovated 4-bedroom, 2-bathroom home nestled on a quiet court in...
    Tracy, CA 95304
    $1,099,000
    1914
    sqft
    3
    Baths
    4
    Beds
    This is it! Views! Stunning hobby farm with 1.
    San Leandro, CA 94577
    $1,200,000
    0
    sqft
    0
    Baths
    0
    Beds
    Industrial/Residential property with 1,933 sq ft of gross building area.
    Patterson, CA 95363
    $1,450,000
    0
    sqft
    0
    Baths
    0
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Oakland, CA 94605
    $749,000
    1250
    sqft
    2
    Baths
    5
    Beds
    Spacious and full of original charm, this 5-bedroom, 2-bathroom Oakland home offers plenty of potential in a super convenient location.
    Millbrae, CA 94030
    $3,880,000
    2740
    sqft
    4
    Baths
    4
    Beds
    This spacious 4-bedroom, 3.
    Chula Vista, CA 91911
    $845,000
    1760
    sqft
    3
    Baths
    5
    Beds
    Welcome to this spacious 5-bedroom, 3-bathroom gem located in the heart of East Chula Vista! This well-maintained home features a generous floor plan with the primary bedroom conveniently located on t...
    Hercules, CA 94547
    $749,000
    1293
    sqft
    2
    Baths
    3
    Beds
    Stunning Hercules View Home in Foxboro Heights Community! Welcome to this gorgeous one-level home, perfectly situated in the desirable Foxboro Heights Community, offering breathtaking views of the Sa...
    Oxnard, CA 93036
    $912,900
    1881
    sqft
    4
    Baths
    4
    Beds
    Welcome to 665 Tiber River Way--the home you've been searching for in the heart of the vibrant RiverPark community.
    San Diego, CA 92116
    $949,000
    1003
    sqft
    1
    Baths
    3
    Beds
    Beautifully restored & modernized throughout, this 1930s classic Craftsman-style home has been reimagined & is nestled in one of San Diegos most vibrant & highly walkable neighborhoods - Normal Height...
    San Luis Obispo, CA 93401
    $638,733
    819
    sqft
    1
    Baths
    2
    Beds
    This is an Avila Ranch Workforce Income Home Listing homesite 247 and potential Buyers must qualify for this program.
    Fremont, CA 94538
    $679,000
    1221
    sqft
    1
    Baths
    1
    Beds
    Elegant & Oversized 1BD/1BA Condo in Prime Fremont Location Welcome to 1,221 sq.


    ​​​​​​​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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