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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  • San Jose, CA 95111
    $1,199,000
    1538
    sqft
    2
    Baths
    4
    Beds
    Charming Updated Home in San Joses Coyote Creek Neighborhood! Welcome to this thoughtfully updated 4-bedroom, 2-bathroom home on a spacious 6,000 sq ft lot in a peaceful, established community near Ev...
    Valley Village, CA 91607
    $1,635,000
    1887
    sqft
    2
    Baths
    3
    Beds
    Ideally situated on a serene cul-de-sac in the heart of coveted Sherman Village, this beautifully updated residence offers the perfect blend of sophistication, comfort, and convenience.
    Valley Glen, CA 91401
    $495,000
    865
    sqft
    2
    Baths
    2
    Beds
    ** Exceptional Value** - Cozy, comfortable and tranquil are just a few adjectives that describe this move-in ready private corner unit in this small condominium complex.
    Oakland, CA 94611
    $895,000
    1212
    sqft
    2
    Baths
    3
    Beds
    5808 Moraga Avenue offers single-level living in the heart of one of Oaklands most desirable neighborhoods.
    San Ramon, CA 94583
    $899,000
    1386
    sqft
    3
    Baths
    3
    Beds
    Experience the perfect blend of style, comfort, and privacy in this updated townhome nestled in the heart of San Ramon.
    Apple Valley, CA 92308
    $450,000
    2167
    sqft
    3
    Baths
    2
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Hesperia, CA 92345
    $447,590
    1494
    sqft
    2
    Baths
    3
    Beds
    NEW CONSTRUCTION! This new single-level home features a spacious and flexible open-concept design that combines the kitchen, living and dining areas for seamless entertaining and multitasking.
    Sun Valley, CA 91352
    $999,999
    1401
    sqft
    2
    Baths
    4
    Beds
    An exceptional investment opportunity hitting the market for the first time in over four decades! Nestled in a prime corner spot, this property encompasses both 7751 and 7759 Arvilla Ave.
    Oxnard, CA 93036
    $1,499,000
    3619
    sqft
    4
    Baths
    5
    Beds
    Located in the prestigious gated community of Victoria Estates in Oxnard, this magnificently updated 3,619 square foot residence offers luxury living at its finest.
    Los Gatos, CA 95032
    $2,149,000
    1755
    sqft
    3
    Baths
    4
    Beds
    BEST FOUR BEDROOM HOUSE IN LOS GATOS under 3 mil.
    Los Gatos, CA 95030
    $1,450,000
    1440
    sqft
    3
    Baths
    2
    Beds
    Rare Glen Ridge Gem Chic, Remodeled, and Walkable to Downtown Los Gatos Welcome to a truly fabulous and rare offering in the coveted Glen Ridge neighborhood a beautifully remodeled, fully furnished...
    West Hollywood, CA 90048
    $2,495,000
    1119
    sqft
    2
    Baths
    0
    Beds
    Experience the ultimate lock-and-leave luxury at Residence 5F, a studio pied-a-terre at 8899 Beverly.
    San Diego, CA 92105
    $699,000
    894
    sqft
    2
    Baths
    3
    Beds
    Come Check Out This Beautifully renovated single-family home.
    Merced, CA 95341
    $345,900
    1050
    sqft
    1
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Irvine, CA 92618
    $1,498,000
    2265
    sqft
    3
    Baths
    4
    Beds
    Welcome to 185 Magnet a beautifully upgraded 4-bedroom, 3-bathroom tri-level home where style meets function in Irvines vibrant Great Park Neighborhoods.
    Irvine, CA 92614
    $2,188,800
    2432
    sqft
    3
    Baths
    3
    Beds
    Beautifully situated on a greenbelt overlooking South Lake, this home offers stunning views and a resort-style lifestyle.
    Los Angeles, CA 90042
    $985,000
    1649
    sqft
    3
    Baths
    3
    Beds
    A rare opportunity awaits you in the highly desirable Portola Terrace community of beautiful Monterey Hills.
    Newport Coast, CA 92657
    $11,880,000
    3982
    sqft
    4
    Baths
    4
    Beds
    Welcome to this breathtaking luxury estate located in the exclusive, guard-gated enclave of Crystal Cove in Newport Coast.
    Camarillo, CA 93010
    $695,000
    1114
    sqft
    2
    Baths
    2
    Beds
    Welcome to Greystones Private Gated Community in the Heart of Central Camarillo! * This beautifully renovated single-story home features * 2 Bedrooms * 2 Full Bathrooms * 1,114 Sq.
    Redondo Beach, CA 90278
    $1,200,000
    1114
    sqft
    1
    Baths
    3
    Beds
    Prime North Redondo Corner lot / fixer single family house.


    ​​​​​​​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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