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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  • Needles, CA 92363
    $189,000
    1100
    sqft
    2
    Baths
    3
    Beds
    Check out this newly renovated historical home on a corner lot! This 3 bedroom 2 bathroom home is fully fenced with low maintenance landscaping! The red dog house out front symbolizes Snoopy's dog...
    Lakewood, CA 90715
    $749,900
    1064
    sqft
    1
    Baths
    3
    Beds
    Charming single-story home with incredible potential! This 3-bedroom, 1-bathroom residence offers a bright and inviting layout, filled with natural light from its many windows.
    San Diego, CA 92128
    $2,850,000
    5748
    sqft
    4
    Baths
    4
    Beds
    Rancho Bernardo exclusive private gated cul-de-sac with only 6 estates.
    Bonita, CA 91902
    $380,000
    599
    sqft
    1
    Baths
    1
    Beds
    Experience modern comfort in this Bonita condo with soaring ceilings and updated flooring.
    Santa Barbara, CA 93105
    $4,695,000
    3644
    sqft
    5
    Baths
    4
    Beds
    Experience the perfect blend of cutting-edge design, high-tech convenience, and laid-back coastal living in this stunning 3,600-square-foot, 4-bedroom, 4.
    Chino, CA 91710
    $785,000
    1846
    sqft
    2
    Baths
    4
    Beds
    Great potential and ready for updates! This charming 4-bedroom, 2-bath pool home is nestled in the heart of Chino's well-established neighborhood.
    Malibu, CA 90265
    $23,500,000
    5232
    sqft
    5
    Baths
    4
    Beds
    Mid-century modern elegance blends perfectly with 21st-century energy efficiency in this sleek, open, garden estate atop Encinal Bluffs.
    Valencia, CA 91381
    $749,000
    1720
    sqft
    3
    Baths
    2
    Beds
    FURNISHED HOME FOR SALE! Elegantly designed contemporary townhome located in the vibrant Valencia community! Spacious 2 bed / 2.
    Big Bear City, CA 92314
    $729,000
    2836
    sqft
    5
    Baths
    5
    Beds
    Built to host cherished family moments and future reunions, this home is a true gathering place.
    Clearlake, CA 95422
    $399,900
    2012
    sqft
    3
    Baths
    3
    Beds
    Lake Living at Its Best - Imagine living just a block from the lake, spending summers by your own pool, cooking in an outdoor kitchen, parking your RV at home, and enjoying the benefits of an owned so...
    Moreno Valley, CA 92555
    $591,614
    1812
    sqft
    3
    Baths
    4
    Beds
    NEW CONSTRUCTION - SINGLE-FAMILY HOMES - Welcome to Bella Sera, a brand, new collection of thoughtfully-designed, two-story, single-family homes in Moreno Valley, ranging from 1,812 to 2,516 sq.
    Burbank, CA 91501
    $750,000
    1770
    sqft
    3
    Baths
    3
    Beds
    Welcome to 621 E Olive Ave #106, a spacious 3-bedroom, 3-bathroom condo offering 1,770 sq ft of living space in the highly desirable city of Burbank.
    Monrovia, CA 91016
    $1,150,000
    1420
    sqft
    3
    Baths
    3
    Beds
    FALL IN LOVE WITH THIS STUNNING 1904 CALIFORNIA BUNGALOW IN THE VERY HEART OF OLD TOWN MONROVIAWHERE HISTORIC CHARM MEETS SLEEK MODERN LIVING! OFFERING 3 SPACIOUS BEDROOMS, 2.
    Tarzana, CA 91356
    $515,000
    1018
    sqft
    3
    Baths
    2
    Beds
    Freshly updated and move-in ready, this 2 bedroom, 2.
    Norwalk, CA 90650
    $769,999
    1396
    sqft
    2
    Baths
    4
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    San Jacinto, CA 92582
    $495,988
    1688
    sqft
    2
    Baths
    3
    Beds
    Wow! What a beautiful Single Story home for your clients! This home has everything your clients want and look for and is designed to be ENERGY STAR certified and delivers a superior level of energy-e...
    Los Angeles, CA 90065
    $1,390,000
    2346
    sqft
    2
    Baths
    5
    Beds
    Step into Los Angeles history with the Murdock House, a distinguished 122-year-old Mission Revival residence, designated as Historic-Cultural Monument No.
    Moreno Valley, CA 92555
    $602,320
    2059
    sqft
    3
    Baths
    4
    Beds
    NEW CONSTRUCTION - SINGLE-FAMILY HOMES NEW COMMUNITY! Welcome to Bella Sera, a brand, new collection of thoughtfully-designed, two-story, single-family homes in Moreno Valley, ranging from 1,812 to 2...
    San Diego, CA 92101
    $2,250,000
    2880
    sqft
    3
    Baths
    2
    Beds
    This exceptionally distinctive townhome-style unit, situated at the southwest corner of the 4th and 5th floors, offers expansive interior spaces that create a living experience akin to that of a tradi...
    Studio City, CA 91604
    $2,275,000
    2283
    sqft
    4
    Baths
    4
    Beds
    PRIVATE HILLSIDE COMPOUND WITH UNOBSTRUCTED VALLEY VIEWS.


    ​​​​​​​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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