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
    $1,379,000
    1686
    sqft
    2
    Baths
    3
    Beds
    Experience the quintessential coastal lifestyle at 336 Rio Del Mar Blvd.
    Seaside, CA 93955
    $801,870
    1040
    sqft
    1
    Baths
    3
    Beds
    Charming Updated Home on Peaceful Cul-de-Sac.
    Menlo Park, CA 94025
    $3,299,000
    2232
    sqft
    2
    Baths
    4
    Beds
    Elegant and expanded ranch-style home in Menlo Parks coveted Linfield Oaks neighborhood! This beautifully updated single-level residence offers 4 spacious bedrooms and 2 luxurious bathrooms, thoughtfu...
    San Mateo, CA 94402
    $1,188,000
    1377
    sqft
    2
    Baths
    2
    Beds
    This beautifully maintained second-floor unit overlooks a picturesque tree-lined street and offers a bright, welcoming ambiance.
    Salinas, CA 93905
    $899,000
    1863
    sqft
    2
    Baths
    4
    Beds
    Versatile Living on a Premium Corner Lot Ideal for Homeowners or Investors! Discover the perfect blend of comfort, flexibility, & investment potential w/this unique single-family home, ideally situat...
    Monterey, CA 93940
    $1,998,000
    3292
    sqft
    4
    Baths
    4
    Beds
    Welcome to Skyline Ridge Estates, a favorite Monterey neighborhood known for its peaceful setting and convenient location.
    Santa Clara, CA 95050
    $1,150,000
    1655
    sqft
    2
    Baths
    3
    Beds
    Welcome home to this move-in ready, tri-level townhome in the Santa Clara Redwoods Community.
    Santa Clara, CA 95051
    $2,399,000
    1165
    sqft
    2
    Baths
    3
    Beds
    Seeking a tranquil Santa Clara property that is a true diamond in a rough?
    San Jose, CA 95131
    $1,348,000
    1707
    sqft
    4
    Baths
    4
    Beds
    Stylish and sunlit, this 4BD/3.
    Santa Clara, CA 95054
    $789,000
    1070
    sqft
    2
    Baths
    2
    Beds
    Welcome to this thoughtfully designed 2BD/2BA home offering 1,070 sq ft of comfortable living in the heart of Santa Clara.
    San Ramon, CA 94582
    $2,400,000
    3474
    sqft
    4
    Baths
    5
    Beds
    Welcome to this stunning 5-bedroom, 4-bathroom home located in the vibrant city of San Ramon.
    Menlo Park, CA 94025
    $2,595,000
    1960
    sqft
    2
    Baths
    3
    Beds
    Welcome to this home in the desirable city of Menlo Park.
    Modesto, CA 95351
    $399,000
    1284
    sqft
    1
    Baths
    2
    Beds
    Diamond in the rough!! This Property has lots of potential and is setting on over 1/3 an acre.
    Watsonville, CA 95076
    $499,000
    1163
    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.
    Morgan Hill, CA 95037
    $868,000
    1817
    sqft
    3
    Baths
    3
    Beds
    Welcome to this 3-bedroom + den/office, 2.
    Oceanside, CA 92054
    $825,000
    1188
    sqft
    2
    Baths
    3
    Beds
    Completely remodeled 3bd/2ba Oceanside home just a few minutes from the beach.
    Cathedral City, CA 92234
    $555,000
    1473
    sqft
    2
    Baths
    3
    Beds
    Upgraded above the others.
    Palm Springs, CA 92264
    $250,000
    755
    sqft
    1
    Baths
    1
    Beds
    Thirty-day rentals allowed! Welcome to your private home, second home or a Investment property! This condo is already a successful vacation rental.
    Calabasas, CA 91302
    $2,995,000
    5775
    sqft
    6
    Baths
    5
    Beds
    Tucked away at the end of a long private driveway, in the exclusive gated community of Braewood, this nearly two-acre estate presents a rare opportunity to reimagine luxury living.
    Kelseyville, CA 95451
    $349,900
    1440
    sqft
    2
    Baths
    3
    Beds
    Great house with vaulted round wood ceiling, windows seem newer and has blinds throughout, cute old bar, fun, private covered back deck to the old golf greens (no house behind), chain link FENCED back...


    ​​​​​​​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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