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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  • Aptos, CA 95003
    $895,000
    1440
    sqft
    3
    Baths
    3
    Beds
    Easy living on Dolphin Drive! A beautiful and spacious 3-bedroom, 2.
    Watsonville, CA 95076
    $1,549,000
    2843
    sqft
    4
    Baths
    5
    Beds
    Beautiful valley and mountain views on a rolling 7.
    Morgan Hill, CA 95037
    $599,000
    624
    sqft
    1
    Baths
    1
    Beds
    Cash transaction.
    Salinas, CA 93908
    $750,000
    1802
    sqft
    2
    Baths
    2
    Beds
    Nestled in a coveted gated community, this elegant 1,802 sq.
    San Jose, CA 95136
    $885,000
    992
    sqft
    2
    Baths
    2
    Beds
    Beautiful End-Unit 2 Bed / 2 Bath Condo with Private Patio and Park Views! Welcome to this charming and bright end-unit home offering the perfect blend of comfort, privacy, and convenience.
    Los Altos, CA 94022
    $999,000
    1200
    sqft
    2
    Baths
    2
    Beds
    Tucked away on a side street, this updated, north-facing Las Casitas townhome offers all the benefits of a single-family home - it shares only one garage wall - with the convenience of a homeowner'...
    Sunnyvale, CA 94085
    $1,399,000
    1027
    sqft
    1
    Baths
    3
    Beds
    Beautifully Remodeled Sunnyvale Home in the Heart of Silicon Valley.
    San Jose, CA 95136
    $1,499,000
    1713
    sqft
    2
    Baths
    6
    Beds
    Explore this stunning property located in the highly sought-after Blossom Valley neighborhood! This expansive home offers four well-appointed bedrooms on the main floor, along with two additional cozy...
    Redwood City, CA 94062
    $4,198,000
    2892
    sqft
    4
    Baths
    4
    Beds
    Stunning, fully remodeled modern home nestled on .
    San Jose, CA 95148
    $1,298,000
    1358
    sqft
    2
    Baths
    3
    Beds
    Welcome to this beautifully updated single-family home, tucked in a quiet cul-de-sac in the desirable Evergreen neighborhood! This charming home offers 3 bedrooms, 2 bathrooms, and 1,358 sq.
    Monterey, CA 93940
    $1,769,000
    1378
    sqft
    2
    Baths
    2
    Beds
    Step into supreme luxury just one block behind fabled Cannery Row on the Monterey Peninsula.
    Sunnyvale, CA 94089
    $1,388,888
    1579
    sqft
    3
    Baths
    2
    Beds
    Welcome to this Luxurious townhouse crafted by award-winning Toll Brothers located in the desirable City Park community of Tasman Crossings.
    San Jose, CA 95111
    $1,399,000
    2291
    sqft
    3
    Baths
    4
    Beds
    Welcome to this bright and spacious 4-bedroom, 2.
    San Jose, CA 95123
    $875,000
    1333
    sqft
    2
    Baths
    3
    Beds
    LUXURY CONDO WITH SPECTACULAR VIEWS, HUGE BALCONY & 2 ASSIGNED PARKING SPOTS IN GARAGE!! Built in 2019, Still Feels Brand New! NO STAIRS Getting To Or Inside Unit!! 2 SUITES PLUS DEN Which Is Recorded...
    San Jose, CA 95112
    $999,980
    925
    sqft
    1
    Baths
    3
    Beds
    Recently Remodeled Main House 925 Sq Ft (3 Bed /1 Bath) With Usable Finished Basement 300 Sq Ft.
    Seaside, CA 93955
    $860,000
    1107
    sqft
    2
    Baths
    3
    Beds
    Panoramic views of Monterey Bay! Imagine sitting at your kitchen table watching the sunset on Monterey Bay.
    Sunnyvale, CA 94087
    $2,498,000
    1856
    sqft
    2
    Baths
    3
    Beds
    Located just steps from sprawling Las Palmas Park, this single-level home has been completely refreshed and features interconnected living spaces and quiet bedrooms filled with natural light.
    Scotts Valley, CA 95066
    $1,650,000
    2489
    sqft
    3
    Baths
    4
    Beds
    Scotts Valley Stunner~ Nestled in a quiet cul-de-sac & drenched in southern sunlight, this beautifully renovated home offers the perfect blend of rural serenity & modern luxury yet only 1 mi to town.
    San Jose, CA 95117
    $1,699,000
    1377
    sqft
    2
    Baths
    3
    Beds
    Welcome to this spectacular home located in the Eden neighborhood of San Jose conveniently located near Santana Row.
    San Jose, CA 95135
    $514,999
    1223
    sqft
    2
    Baths
    2
    Beds
    Come and live a resort life at The Villages Golf & Country Club, a 55+ community with 24hr manned gate.


    ​​​​​​​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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