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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  • Anaheim Hills, CA 92808
    $699,000
    1126
    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.
    Victorville, CA 92395
    $465,000
    2175
    sqft
    3
    Baths
    3
    Beds
    Welcome to this charming and spacious 3-bedroom, 2.
    San Diego, CA 92117
    $1,349,900
    1447
    sqft
    2
    Baths
    3
    Beds
    Welcome to your Fantastic and one of a kind dream home!!! Cul-de-sac updated home with panoramic views and backyard privacy galore!!! New ABS plumbing, new Copper plumbing, new roof, new custom plaste...
    San Diego, CA 92113
    $759,999
    1387
    sqft
    2
    Baths
    4
    Beds
    Corner Lot Home - Central to shopping, buses, naval base, minutes from Downtown and so much more! Home has been updated and remodeled to include new lighting, new flooring and paint, upgraded new ABS...
    North Tustin, CA 92705
    $3,375,000
    5038
    sqft
    5
    Baths
    5
    Beds
    Perched atop one of North Tustin's/Cowan Height's most sought-after Hilltops, 10302 Broadview Place is a unique & masterful custom estate ideally suited for Location, Location, Location!! Mag...
    Palmdale, CA 93550
    $615,000
    2228
    sqft
    3
    Baths
    4
    Beds
    Welcome to 3143 Tourmaline Lane in Palmdale a spacious and well-appointed 4-bedroom, 3-bathroom home offering 2,228 sq ft of comfortable living.
    Fremont, CA 94539
    $3,598,000
    4045
    sqft
    3
    Baths
    5
    Beds
    Nestled on 7+ private acres, this gated estate offers stunning panoramic views and unparalleled privacy.
    Poway, CA 92064
    $2,795,000
    3783
    sqft
    5
    Baths
    4
    Beds
    This extraordinary estate is one of the most spectacular view homes in Poway! This home redefines luxury living with unmatched craftsmanship and thoughtful design.
    Desert Hot Springs, CA 92240
    $455,000
    1792
    sqft
    2
    Baths
    3
    Beds
    Welcome to your dream single-story home! This beautifully updated 3-bedroom, 2-bathroom gem offers a cozy open layout thats perfect for both relaxing and entertaining.
    Chico, CA 95926
    $590,000
    1843
    sqft
    2
    Baths
    3
    Beds
    Charming "Avenues" property with accessory apartment tastefully set up for short term rental or guest quarters.
    Pleasanton, CA 94566
    $1,700,000
    1825
    sqft
    2
    Baths
    4
    Beds
    Welcome to The Gates community! This beautifully updated 4 bedroom, 2 bath single story home sits on a corner lot on a cul-de-sac in highly desirable neighborhood.
    Downey, CA 90240
    $879,000
    2110
    sqft
    4
    Baths
    4
    Beds
    Welcome to 9213 Sunshine Place, a beautifully upgraded home located in a secured gated community, the highly sought-after Downey Collection.
    Chula Vista, CA 91911
    $849,000
    1606
    sqft
    2
    Baths
    4
    Beds
    Stunning Remodeled Home at 482 Wykes St, Chula Vista, CA 91911 Discover modern elegance in this fully remodeled Chula Vista gem, nestled on a private cul-de-sac.
    Lake Forest, CA 92630
    $1,300,000
    2540
    sqft
    3
    Baths
    5
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Palm Springs, CA 92262
    $599,000
    1588
    sqft
    2
    Baths
    3
    Beds
    Exceptional Value in gated Park San Rafael! Priced at just $599,000, this 3-bedroom, 2-bathroom single-family home on land you own (fee simple) offers incredible value in a highly desirable gated comm...
    San Leandro, CA 94577
    $689,000
    950
    sqft
    1
    Baths
    3
    Beds
    First time on the market in over 60 years in San Leandro.
    North Hollywood, CA 91602
    $765,000
    1576
    sqft
    3
    Baths
    3
    Beds
    This bright two-story townhouse features 3-bedrooms and -2.
    Arcadia, CA 91007
    $1,138,000
    2032
    sqft
    3
    Baths
    3
    Beds
    Location, location, location!! 717 Arcadia Ave #C is a sun-filled tri-level townhome tucked inside a gated community.
    Hayward, CA 94541
    $1,300,000
    2730
    sqft
    3
    Baths
    5
    Beds
    2 DETACHED HOUSES ON 1 LOT! Both completely remodeled.
    La Jolla, CA 92037
    $3,995,000
    2764
    sqft
    3
    Baths
    3
    Beds
    Enjoy whitewater views and sunsets from this spacious coastal home, ideally located at the end of a quiet cul-de-sac across from Calumet Park.


    ​​​​​​​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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