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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  • Ventura, CA 93004
    $825,000
    1719
    sqft
    2
    Baths
    4
    Beds
    First time on the market in over 60 years!!! Located in a highly desirable neighborhood of East End Ventura, this single-story home offers 4 bedrooms, 2 bathrooms, and 1,719 square feet of living spac...
    Camarillo, CA 93010
    $1,450,000
    3059
    sqft
    4
    Baths
    4
    Beds
    Truly One-of-a-Kind in Camarillo Heights.
    West Hollywood, CA 90069
    $699,000
    968
    sqft
    2
    Baths
    2
    Beds
    Price improvement! The Courtyards is a premier condo complex rich with amenities in prime West Hollywood.
    Santa Fe Springs, CA 90670
    $815,000
    1822
    sqft
    4
    Baths
    4
    Beds
    This well-maintained and practical Mediterranean-style home is perfect for any family ready to move in and enjoy.
    Livermore, CA 94550
    $1,978,000
    2913
    sqft
    4
    Baths
    5
    Beds
    Welcome to this show-stopping home that effortlessly combines style, space, and functionality.
    San Pablo, CA 94806
    $689,000
    1331
    sqft
    2
    Baths
    4
    Beds
    The one you have been waiting for !!! Well cared for by the original owners.
    Diamond Bar, CA 91765
    $409,000
    850
    sqft
    1
    Baths
    2
    Beds
    Experience this cozy condo in the Diamond Bar Tennis Club that is perfect for forever home! Features include 2 bedrooms, 1 bathroom, a walk-in closet, and a light and airy living room with cathedral c...
    San Ramon, CA 94582
    $2,149,000
    2602
    sqft
    3
    Baths
    4
    Beds
    Stunning and meticulously maintained home in sought-after Vista San Ramon with freshly painted interiors/exterior.
    Sacramento, CA 95825
    $239,999
    1000
    sqft
    1
    Baths
    2
    Beds
    Nestled in a gated, resort-style condominium complex at 1039 Fulton Ave #381 in the vibrant Arden-Arcade neighborhood of Sacramento, this charming 2bed, 1bath unit (approx.
    San Diego, CA 92106
    $1,570,000
    1757
    sqft
    4
    Baths
    3
    Beds
    Welcome to your stunning multilevel townhome in the heart of Point Loma, where modern sophistication meets coastal charm.
    San Ramon, CA 94582
    $1,199,888
    1839
    sqft
    3
    Baths
    3
    Beds
    Exquisite end-unit townhouse-style condo in desirable Gale Ranch, perfectly located across from the brand-new Critter Crossroad Park! This light-filled home features an open-concept floor plan with ha...
    Carlsbad, CA 92011
    $2,395,000
    3303
    sqft
    4
    Baths
    5
    Beds
    Tucked into a peaceful coastal enclave of just 21 homes, this Southwest Carlsbad stunner blends modern style, thoughtful upgrades, and effortless indoor/outdoor livingjust minutes from the sand.
    Oakley, CA 94561
    $880,500
    3572
    sqft
    4
    Baths
    5
    Beds
    Situated in the sought after community of Emerson Ranch welcome to 369 Parkfield Way.
    Simi Valley, CA 93065
    $1,450,000
    1850
    sqft
    2
    Baths
    3
    Beds
    Welcome to this exceptional equestrian estate in the heart of Bridle Path in Simi Valley.
    San Leandro, CA 94578
    $899,000
    1843
    sqft
    3
    Baths
    4
    Beds
    Legal 3bed/2bath Main House 14955 Lark St (About 1300sf) and newly completed attached 1bed/1bath ADU 14957 Lark St (577sqft), both units have been fully updated.
    Banning, CA 92220
    $365,000
    1471
    sqft
    2
    Baths
    2
    Beds
    Come see this popular Pave model in the beautiful premiere Sun Lakes Country Club, an active 55+ resort style living community.
    Ramona, CA 92065
    $745,800
    3115
    sqft
    4
    Baths
    5
    Beds
    Move in ready and features a premium .
    La Mesa, CA 91941
    $1,100,000
    1995
    sqft
    2
    Baths
    4
    Beds
    This beautifully remodeled home boasts breathtaking panoramic views of San Diego, seamlessly blending contemporary design with timeless comfort.
    Indio, CA 92201
    $710,000
    1847
    sqft
    2
    Baths
    3
    Beds
    Looking for a like-new home with high-end upgrades, privacy, and your own private pool?
    Pinole, CA 94564
    $659,000
    1480
    sqft
    2
    Baths
    2
    Beds
    Charming Downtown Pinole Gem! Where timeless character meets modern comfortthis beautifully updated home offers 2 bedrooms, 2 bathrooms, plus a spacious bonus room with a closet and additional more sp...


    ​​​​​​​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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