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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  • Pomona, CA 91767
    $625,000
    1580
    sqft
    3
    Baths
    3
    Beds
    WELCOME HOME! This 3 bedroom 3 bath condo is located in the Cobblestone Town homes gated community.
    Lake Forest, CA 92630
    $1,350,000
    2136
    sqft
    3
    Baths
    4
    Beds
    Entertainers Delight in this 4 bd, 3 ba, 2136 sqft, pool home in the popular neighborhood of Bennett Ranch in the heart of Lake Forest.
    Hesperia, CA 92345
    $495,590
    1761
    sqft
    2
    Baths
    4
    Beds
    NEW CONSTRUCTION! This new single-level home features a modern and low-maintenance design.
    San Dimas, CA 91773
    $669,999
    1496
    sqft
    3
    Baths
    3
    Beds
    Location! Location! Location! Well maintained property with 3 bedrooms, and three bathrooms, recently painted throughout, 2 car detached garage.
    Palo Alto, CA 94303
    $3,199,000
    1717
    sqft
    3
    Baths
    4
    Beds
    This stunning most sought-after neighborhoods.
    Aptos, CA 95003
    $1,580,000
    2900
    sqft
    3
    Baths
    3
    Beds
    Welcome to 210 Thunderbird Drive, a multi-level home tucked into the heart of Rio Del Mar, one of Aptos most sought-after neighborhoods.
    Clovis, CA 93619
    $659,000
    2277
    sqft
    3
    Baths
    3
    Beds
    Welcome Home! Discover this better-than-new, beautifully upgraded home located in the highly sought-after Clovis East area within the award-winning Clovis Unified School District.
    Los Angeles, CA 90027
    $1,699,000
    1823
    sqft
    2
    Baths
    2
    Beds
    ATTENTION INVESTORS, FLIPPERS, OWNER USERS.
    Los Angeles, CA 90028
    $959,000
    1394
    sqft
    3
    Baths
    2
    Beds
    Experience modern living at its best in this contemporary single-family home located in a quiet well-maintained community.
    Los Angeles, CA 90017
    $549,000
    1020
    sqft
    2
    Baths
    2
    Beds
    Elevate your lifestyle in this elegant 2-bedroom, 2-bathroom penthouse on the 6th floor of the Vero building in Downtown Los Angeles.
    Malibu, CA 90265
    $19,995,000
    3182
    sqft
    5
    Baths
    4
    Beds
    Completely remodeled contemporary oceanfront home done by Babineau Construction on world-renowned Malibu Rd.
    Pleasanton, CA 94566
    $1,885,000
    2088
    sqft
    3
    Baths
    4
    Beds
    Charming, Move-In Ready Home in Desirable Pleasanton Neighborhood!! Welcome to this well-maintained 4-bedroom, 2.
    Copperopolis, CA 95228
    $694,900
    1750
    sqft
    2
    Baths
    3
    Beds
    This beautiful Farmhouse with a large shop building is in the Diamond XX subdivision.
    Oakland, CA 94611
    $1,700,000
    2497
    sqft
    3
    Baths
    4
    Beds
    Step into modern luxury with this stunning, fully remodeled 4-bedroom, 3-bath home in the heart of Oaklandrebuilt down to the studs with thoughtful attention to every detail.
    Tehachapi, CA 93561
    $434,000
    2175
    sqft
    3
    Baths
    4
    Beds
    Welcome to 19701 Mesa Dr, Tehachapi, CA 93561a fully remodeled gem nestled on an expansive 19,166 sq ft lot.
    Palmdale, CA 93551
    $575,000
    1706
    sqft
    3
    Baths
    3
    Beds
    Come see this beautiful west Palmdale pool home with 3 bedrooms & 2 1/2 baths in a great location and shows pride of ownership inside and out.
    Chico, CA 95973
    $559,000
    2541
    sqft
    4
    Baths
    4
    Beds
    Nestled in a desirable neighborhood, this storybook home is ready to welcome its new owner.
    Hesperia, CA 92345
    $587,250
    3010
    sqft
    3
    Baths
    5
    Beds
    NEW CONSTRUCTION! This new two-story home offers ample room to live and grow.
    Santa Cruz, CA 95060
    $1,090,000
    871
    sqft
    1
    Baths
    2
    Beds
    Nestled in the heart of Santa Cruzs coveted Lower Westside, this beautifully refreshed home offers the ultimate blend of coastal charm and modern convenience.
    Daly City, CA 94014
    $798,000
    460
    sqft
    1
    Baths
    2
    Beds
    Great location for 1st time home buyers and investors.


    ​​​​​​​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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