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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  • Indio, CA 92201
    $1,895,000
    4868
    sqft
    5
    Baths
    5
    Beds
    Introducing a rare opportunity to own an upscale Italian Country Estate in the prestigious community of Stonefield Estates.
    Big Bear, CA 92315
    $2,599,000
    4465
    sqft
    6
    Baths
    5
    Beds
    If you're looking for a modern Snow Chalet, look no further.
    San Diego, CA 92105
    $859,900
    1632
    sqft
    2
    Baths
    3
    Beds
    Welcome to 4918 Dalehaven Pl, a stunning single-family detached home located in the sought-after Ridgeview - Webster neighborhood.
    Barstow, CA 92311
    $460,000
    3117
    sqft
    4
    Baths
    6
    Beds
    MOTIVATED SELLERS.
    Concord, CA 94518
    $1,099,950
    2967
    sqft
    3
    Baths
    4
    Beds
    One-of-a-kind home in a tree-lined neighborhood with stunning upgrades inside and out! Formal dining room, Gourmet kitchen features cherrywood cabinets, with full extension draws & shelves, Wolf 6-bur...
    Valencia, CA 91354
    $799,990
    1938
    sqft
    3
    Baths
    2
    Beds
    Single Story living spacious home with beautiful outdoor back patio , stunning slider doors open up to outside, Age qualified, active adult community.
    Santee, CA 92071
    $524,999
    945
    sqft
    2
    Baths
    2
    Beds
    Rare Corner Unit in Santee Stylish, Private & Move-In Ready.
    El Cerrito, CA 94530
    $898,000
    1561
    sqft
    2
    Baths
    3
    Beds
    This two level VIEW home, which has been in one family for several decades, is in the desirable El Cerrito hills.
    San Diego, CA 92111
    $350,000
    463
    sqft
    1
    Baths
    0
    Beds
    This charming and fully remodeled ground-level studio offers 463 sq.
    Kensington, CA 94707
    $995,000
    1554
    sqft
    2
    Baths
    3
    Beds
    First Time on the Market in Generations - Exceptional Renovation Opportunity! Unlock the full potential of this unique, character-filled property offering flexible living options ideal for multigenera...
    Desert Hot Springs, CA 92240
    $495,000
    1876
    sqft
    3
    Baths
    4
    Beds
    Welcome to Phase Two of Scenic Crest Villas! Don't miss your opportunity to own a home in this highly sought-after community.
    Merced, CA 95341
    $585,000
    1711
    sqft
    2
    Baths
    3
    Beds
    Country Ranchette!! Nestled on 14 acres of serene countryside in Merced, this exceptional Ranchette offers endless opportunities for those seeking a remote, private retreat.
    Wildomar, CA 92595
    $465,000
    1880
    sqft
    2
    Baths
    3
    Beds
    Discover the perfect blend of comfort, updates, and community living at 24400 Wagon Wheel Ln! This meticulously maintained 3-bedroom, 2-bathroom manufactured home on permanent foundation offers 1,880 ...
    Emeryville, CA 94608
    $549,000
    1103
    sqft
    2
    Baths
    2
    Beds
    Stylishly Upgraded Waterfront Condo at Watergate! Bright, spacious, and move-in ready, this beautifully upgraded two-bedroom, two-bath condo offers modern comfort in a resort-style setting.
    Encinitas, CA 92024
    $2,600,000
    2322
    sqft
    3
    Baths
    4
    Beds
    One of the best locations in Encinitas Highlands.
    San Marcos, CA 92069
    $1,579,000
    3017
    sqft
    4
    Baths
    5
    Beds
    This exceptional corner-lot home, located at the end of a quiet cul-de-sac in a private enclave of only 19 residences, offers luxurious indoor-outdoor living in one of San Marcos most desirable neighb...
    San Diego, CA 92106
    $1,999,000
    2511
    sqft
    4
    Baths
    4
    Beds
    GREAT home in Pt Loma, walking distance to shops and restaurants with incredible views of the bay, downtown, and the mountains behind.
    Encinitas, CA 92024
    $2,450,000
    1553
    sqft
    3
    Baths
    2
    Beds
    Amazing unobstructed ocean view from virtually every room.
    Williams, CA 95987
    $365,000
    2814
    sqft
    3
    Baths
    4
    Beds
    Welcome to 929 9th Street, a beautifully maintained and spacious home on a generously landscaped lot, offered with the adjoining vacant parcel.
    Culver City, CA 90230
    $1,795,000
    2390
    sqft
    3
    Baths
    6
    Beds
    Welcome to 11333 Braddock Dr, a beautifully maintained 6-bedroom, 3-bathroom mid-century gem nestled in the desirable Blair Hills neighborhood of Culver City.


    ​​​​​​​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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