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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  • Long Beach, CA 90802
    $349,000
    664
    sqft
    1
    Baths
    1
    Beds
    This prime Downtown Long Beach 1 bedroom condo in the desirable Historic Willmore District has a large living room, and a separate eating area, it comes with a refrigerator, stove, and dishwasher, lot...
    Hesperia, CA 92345
    $599,800
    2637
    sqft
    5
    Baths
    4
    Beds
    Welcome to 17820 Sycamore Street in Hesperia a stunning, fully-renovated property where everything inside and out has been thoughtfully replaced, upgraded, and permitted through the City of Hesperia.
    Pomona, CA 91766
    $1,045,000
    2144
    sqft
    3
    Baths
    4
    Beds
    Welcome to this Beautifully maintained home located in lovely Phillips Ranch.
    Desert Hot Springs, CA 92240
    $225,000
    1087
    sqft
    2
    Baths
    1
    Beds
    ***FANTASTIC INVESTMENT OPPORTUNITY***Great fixer with tons of upside potential.
    Porter Ranch, CA 91326
    $1,300,000
    2065
    sqft
    2
    Baths
    3
    Beds
    Welcome to the highly sought-after Sorrento Community in Porter Ranch, a 24-hour guard-gated neighborhood offering security, charm, and convenience.
    Oceanside, CA 92057
    $410,000
    940
    sqft
    1
    Baths
    2
    Beds
    Welcome to this bright 940 sq ft, 2-bedroom, 1-bath end unit in the Oceana 55+ community.
    Fontana, CA 92336
    $750,000
    2207
    sqft
    3
    Baths
    4
    Beds
    Welcome to this stunning 4-bedroom, 3-bathroom home in the heart of Fontana! Sitting proudly on a large corner lot, one of the biggest in the community, this property has been fully customized and tho...
    Dana Point, CA 92629
    $849,950
    1165
    sqft
    2
    Baths
    2
    Beds
    Welcome to 54 Corniche Drive, a beautifully updated ground-floor condo in the coveted, 24-hour guard-gated community of Ritz Pointe, just minutes from the sand, sea, and world-class resorts of Dana Po...
    Santa Ana, CA 92703
    $1,069,000
    1285
    sqft
    2
    Baths
    4
    Beds
    This stunning, fully remodeled cul-de-sac home on a spacious lot of blends modern comfort with unbeatable convenience.
    Alhambra, CA 91801
    $789,000
    1140
    sqft
    3
    Baths
    2
    Beds
    Brand New Construction end unit!!! Prime location within minutes to So.
    Lake Arrowhead, CA 92352
    $899,000
    2192
    sqft
    2
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Orange, CA 92869
    $825,000
    1370
    sqft
    3
    Baths
    3
    Beds
    Here is your chance to live in the desired gated Huntington Community.
    San Bernardino, CA 92404
    $499,900
    1199
    sqft
    2
    Baths
    3
    Beds
    Fall in love with this fully remodeled home, boasting 3 spacious bedrooms, 1.
    Yucaipa, CA 92399
    $1,200,000
    3113
    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.
    Moreno Valley, CA 92557
    $599,900
    2303
    sqft
    3
    Baths
    4
    Beds
    Welcome to this exceptional single-family detached home at 10641 Breezy Meadow Dr, set in the sought-after Sunnymead Ranch Community.
    Monrovia, CA 91016
    $758,888
    1552
    sqft
    3
    Baths
    3
    Beds
    Welcome to 215 E Chestnut Ave,#D, a beautiful 3-bedroom, 3-bathroom home perfectly situated in the heart of Monrovia.
    Paradise, CA 95969
    $265,000
    1188
    sqft
    2
    Baths
    2
    Beds
    Welcome home to this newer factory-built home tucked into a neighborhood of wide, newly paved streets and many fresh builds that show the pride of Paradise coming back strong.
    Colton, CA 92324
    $509,000
    1276
    sqft
    2
    Baths
    3
    Beds
    Welcome to this charming 3-bedroom, 2-bath home in a well-established Colton neighborhood.
    Adelanto, CA 92301
    $455,000
    2025
    sqft
    3
    Baths
    4
    Beds
    Spacious 4-Bed, 2.
    Highland, CA 92346
    $535,000
    1118
    sqft
    1
    Baths
    3
    Beds
    Check out this newly renovated home in a lovely neighborhood! Its ready to move in and has everything you need.


    ​​​​​​​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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