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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  • Corona del Mar, CA 92625
    $6,800,000
    3164
    sqft
    6
    Baths
    4
    Beds
    Setting the bar for perfection, this brand-new masterpiece by SONIL Custom Homes designates its own class.
    Corona del Mar, CA 92625
    $3,600,000
    1474
    sqft
    2
    Baths
    2
    Beds
    Setting the bar for perfection, this brand-new masterpiece by SONIL Custom Homes designates its own class.
    Banning, CA 92220
    $280,000
    891
    sqft
    1
    Baths
    2
    Beds
    Looking for an affordable home?
    Bakersfield, CA 93308
    $320,000
    1242
    sqft
    2
    Baths
    3
    Beds
    Don't miss out on this beautifully updated 3 bedroom, 2 bath home ready for its next owner! The spacious living room features a charming brick fireplace and plenty of natural light.
    Downey, CA 90240
    $599,000
    691
    sqft
    1
    Baths
    2
    Beds
    ****OPPORTUNITY KNOCKS**** Great starter home ready to move right in.
    San Diego, CA 92101
    $2,495,000
    2220
    sqft
    3
    Baths
    2
    Beds
    Bay and ocean views from the 18th floor set the stage for this chic 2 Bedroom, 2.
    Los Angeles, CA 90077
    $6,995,000
    5670
    sqft
    8
    Baths
    5
    Beds
    Set atop one of Bel Air's most exclusive ridgelines, this private, gated architectural estate offers sweeping canyon views, elegant contemporary design, and seamless indoor-outdoor living.
    Ontario, CA 91762
    $782,500
    1863
    sqft
    3
    Baths
    4
    Beds
    Welcome to 1347 W.
    Anaheim, CA 92807
    $1,149,000
    2337
    sqft
    3
    Baths
    3
    Beds
    Nestled on a private street in Anaheim's desirable Windsor Hills community, this beautifully updated two-story home offers a bright, open layout filled with charm, comfort, and exceptional upgrade...
    Richmond, CA 94804
    $465,000
    847
    sqft
    1
    Baths
    2
    Beds
    Welcome to 227 Marina Lakes, a beautifully updated 2-bedroom, 1-bath condo in the sought-after Marina Lakes community.
    Brentwood, CA 94513
    $1,350,000
    3747
    sqft
    4
    Baths
    4
    Beds
    This 2 year old home is barley broken in.
    Glendora, CA 91741
    $1,495,000
    2700
    sqft
    5
    Baths
    5
    Beds
    Rarely does a property like this come available in Glendorajust moments from the charm of downtown and nestled on a prime corner lot, this two-story duplex offers versatility, character, and incredibl...
    Lancaster, CA 93536
    $640,000
    2630
    sqft
    3
    Baths
    3
    Beds
    Discover the perfect blend of comfort, style, and functionality.
    Whittier, CA 90604
    $840,000
    1295
    sqft
    2
    Baths
    3
    Beds
    This is it, the opportunity you have been waiting for.
    Lakewood, CA 90715
    $899,900
    1233
    sqft
    2
    Baths
    3
    Beds
    THIS IS THE GEM OF LAKEWOOD ESTATES!!! This TURN KEY property is a true diamond.
    Los Angeles, CA 90013
    $1,450,000
    2420
    sqft
    2
    Baths
    2
    Beds
    Welcome to the epitome of urban chic living in the heart of Downtown LA's vibrant Arts District.
    Fremont, CA 94555
    $1,475,000
    1590
    sqft
    2
    Baths
    3
    Beds
    Welcome to this beautifully upgraded single-story 3 bed, 2 bath townhome offering exceptional comfort and convenience.
    Monterey, CA 93940
    $895,000
    982
    sqft
    1
    Baths
    2
    Beds
    Discover a rare opportunity to purchase a charming, freestanding professional office building, perfectly suited for medical or professional practices, with the unique potential for conversion back to ...
    Simi Valley, CA 93065
    $1,195,000
    2407
    sqft
    3
    Baths
    4
    Beds
    Summer Fun Starts Here! Welcome to 748 Azure Hills, a stunning 4 bed 3 bath remodeled and redesigned POOL home in the highly sought after Oakridge Estates of Simi Valley.
    San Diego, CA 92130
    $2,499,000
    2724
    sqft
    3
    Baths
    5
    Beds
    Centrally located on the western edge of Pacific Highlands Ranch, this beautiful Bordeaux home is moments from Sycamore Ridge Elementary and includes access to the resort-style amenities of the West H...


    ​​​​​​​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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