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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  • Beverly Hills, CA 90210
    $19,500,000
    10399
    sqft
    10
    Baths
    5
    Beds
    Stunning 2022 new construction property set in the most desirable zip code in the world! An impressive collaboration between Iconic x Paul McLean creates a one-of-a-kind, warm and organic architectura...
    Valencia, CA 91355
    $1,299,000
    2964
    sqft
    3
    Baths
    4
    Beds
    Located in one of the most sought-after neighborhoods in the Santa Clarita Valley, the Valencia Summit, this stunning residence is one of the largest homes in the community.
    Hemet, CA 92545
    $384,900
    1779
    sqft
    3
    Baths
    4
    Beds
    Spacious 4 bedroom, 3 bathroom two story home offering 1779 square feet of living space on a 6098 square foot lot.
    Santa Monica, CA 90405
    $2,100,000
    1337
    sqft
    2
    Baths
    3
    Beds
    Charming Sunset Park/Santa Monica home with tremendous potential! Features include 3 bedrooms and 2 bathrooms.
    Los Angeles, CA 90065
    $1,176,600
    1848
    sqft
    3
    Baths
    3
    Beds
    An amazing opportunity in CA.
    Los Angeles, CA 90042
    $1,699,000
    2052
    sqft
    4
    Baths
    4
    Beds
    This is the perfect Artist Retreat! Set on an expansive 13,530 sq ft lot with sweeping views of Highland Park, this secluded and charming retreat offers the perfect blend of original character and tho...
    Los Angeles, CA 90012
    $495,000
    628
    sqft
    1
    Baths
    1
    Beds
    Welcome to this charming 1-bedroom, 1-bath condo at Savoy, an east-facing end unit that feels both peaceful and private.
    Victorville, CA 92395
    $549,000
    1668
    sqft
    2
    Baths
    3
    Beds
    BE THE FIRST TO OWN THIS BEAUTIFULLY DESIGNED NEW CONSTRUCTION MODERN FARMHOUSE AND SELECT FINISHING TOUCHES IF YOU ACT FAST.
    Fort Bragg, CA 95437
    $275,000
    672
    sqft
    1
    Baths
    2
    Beds
    Hidden Hideway, property is overgrown but yet it gives you a feel of being not in a city! Very cute home in need of some TLC.
    Murrieta, CA 92563
    $680,000
    1752
    sqft
    3
    Baths
    3
    Beds
    Stunning corner lot POOL home! Located in the sought after community of Rancho Bella Vista, this immaculate 3-bedroom, 2 and a half bathroom + loft home sits proudly on a spacious corner lot with stan...
    San Diego, CA 92117
    $1,275,000
    1802
    sqft
    2
    Baths
    3
    Beds
    Rare North Clairemont Home Fully Renovated with Bonus Detached Studio! Welcome to this exceptionally rare offering in the heart of North Clairemonta beautifully renovated 3-bedroom, 2-bathroom home ...
    Beverly Hills, CA 90211
    $2,199,000
    1823
    sqft
    2
    Baths
    3
    Beds
    Welcome to 220 S Le Doux Rd, the lowest priced single family home currently on the market in all of Beverly Hills.
    La Mesa, CA 91942
    $569,000
    950
    sqft
    2
    Baths
    2
    Beds
    Incredible Value in La Mesa! This bright and airy 2-bedroom, 2-bath condo offers lake views and a spacious open floor plan.
    Orange, CA 92866
    $1,275,000
    1513
    sqft
    3
    Baths
    3
    Beds
    Welcome to 347 N Cambridge Street, ideally located just blocks from Orange Circle, Chapman University, and all that Old Towne has to offer.
    Pittsburg, CA 94565
    $6,495,000
    2037
    sqft
    2
    Baths
    3
    Beds
    An Opportunity not to be missed.
    San Marcos, CA 92069
    $769,000
    1590
    sqft
    3
    Baths
    4
    Beds
    This stunning 2022-built end unit is just off Highway 78, close to grocery stores, shopping, restaurants, Costco, Palomar Hospital, and Cal State San Marcos.
    Anaheim, CA 92808
    $725,000
    1046
    sqft
    2
    Baths
    2
    Beds
    Move-in ready home in the beautiful Summit Court community of Anaheim Hills.
    San Lorenzo, CA 94580
    $828,000
    1156
    sqft
    2
    Baths
    3
    Beds
    Open Houses July 12 & 13 12-3PM.
    Pinole, CA 94564
    $799,950
    1687
    sqft
    3
    Baths
    3
    Beds
    Nestled high on a ridge above San Pablo Bay, Crown Ridge in Marsten Ranch is Pinole Valleys premier community.
    Concord, CA 94521
    $940,000
    1473
    sqft
    2
    Baths
    3
    Beds
    Enjoy resort style living! Spectacular pool with 2 water cascades, Tuscany inspired stonework, night lighting, Baja Shelf, 5-foot-wide pool entry steps, & a covered pool equipment area.


    ​​​​​​​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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