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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  • Ontario, CA 91764
    $529,900
    1345
    sqft
    3
    Baths
    3
    Beds
    BRANDYWINE VILLAGE TOWNHOME END UNIT - This beautifully maintained and updated home features 3 bedrooms, 3 bathrooms with approx.
    Whittier, CA 90601
    $1,499,999
    2624
    sqft
    3
    Baths
    4
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Merced, CA 95340
    $275,000
    1023
    sqft
    1
    Baths
    2
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Ontario, CA 91762
    $525,000
    1081
    sqft
    3
    Baths
    2
    Beds
    Absolutely stunning detached 2 story home in the beautiful Gated Community of Nuvo Parkside.
    Fontana, CA 92336
    $758,000
    2364
    sqft
    3
    Baths
    3
    Beds
    Single-family home with breathtaking golf course views.
    Los Angeles, CA 90024
    $850,000
    1012
    sqft
    2
    Baths
    2
    Beds
    **WESTWOOD VILLAGE PENTHOUSE**This Penthouse Condo is awesome! Top floor in a well maintained security building.
    Westlake Village, CA 91361
    $1,199,000
    1626
    sqft
    2
    Baths
    3
    Beds
    A rare opportunity awaits in the highly sought-after Westshore Community in the heart of Westlake Village.
    Berkeley, CA 94703
    $899,000
    1518
    sqft
    3
    Baths
    4
    Beds
    Where does California Chill Meet Berkeley Bliss?
    Ontario, CA 91761
    $789,990
    1966
    sqft
    3
    Baths
    4
    Beds
    Welcome to this beautifully maintained two-story home offering the perfect blend of comfort, style, and functionality.
    Rancho Santa Margarita, CA 92688
    $924,999
    1487
    sqft
    3
    Baths
    3
    Beds
    Welcome to this beautifully upgraded 3-bedroom, 3-bath end-unit townhome-style condo in the heart of Rancho Santa Margarita.
    Chino Hills, CA 91709
    $1,275,000
    2700
    sqft
    3
    Baths
    4
    Beds
    DAZZLING 4 bedroom/3 bath residence, ELEGANTLY upgraded throughout in contemporary design style.
    Culver City, CA 90230
    $1,899,000
    2042
    sqft
    3
    Baths
    3
    Beds
    Perched in the coveted Culver Crest hills, this stunning two-story Mid-Century home combines timeless design with sweeping city views.
    Torrance, CA 90503
    $1,829,000
    2480
    sqft
    3
    Baths
    4
    Beds
    Welcome to this gorgeous single-story home sitting on an oversized lot in West Torrances most coveted neighborhood.
    Murrieta, CA 92563
    $499,900
    1472
    sqft
    3
    Baths
    3
    Beds
    FANTASTIC SKYVIEW RIDGE HOME W/ UPGRADES! This is the one you've been looking for! Built by DR Horton in 2005, this well designed home & complex has so much to offer! The entry has a spacious pati...
    Oceanside, CA 92058
    $595,000
    944
    sqft
    2
    Baths
    2
    Beds
    This light-filled 2-bedroom, 2-bath condo combines modern upgrades with unbeatable amenities.
    Rancho Mirage, CA 92270
    $1,835,000
    3465
    sqft
    5
    Baths
    4
    Beds
    Presenting a 2005 version of a modern Mexican hacienda in the heart of Magnesia Falls Cove! Gated and totally private, this VERY unique home enjoys pueblo and Spanish Colonial influences surrounded by...
    Van Nuys, CA 91401
    $1,145,000
    2100
    sqft
    3
    Baths
    4
    Beds
    On a quiet interior street in a coveted Valley Glen enclave, privately tucked away on a sprawling and peaceful lot, sits this expansive mid-century retreat.
    Encino, CA 91316
    $1,199,999
    1568
    sqft
    2
    Baths
    3
    Beds
    Originally built in 1949 and tastefully updated in 2021, this Encino Park gem has it all.
    Mountain View, CA 94043
    $1,498,000
    1440
    sqft
    3
    Baths
    3
    Beds
    Welcome to 153 Irene Ct, this beautifully updated 3-bedroom, 2.
    Sylmar, CA 91342
    $669,990
    1233
    sqft
    3
    Baths
    3
    Beds
    Turn-key townhome in a quiet, gated community with manicured landscaping, a sparkling pool and spa, plus ample guest parking.


    ​​​​​​​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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