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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  • Clayton, CA 94517
    $635,000
    1378
    sqft
    3
    Baths
    3
    Beds
    Walkable to downtown Clayton, this beautifully maintained end-unit townhome offers a flexible layout, an impressive kitchen, all nestled at the base of Mount Diablo.
    Richmond, CA 94804
    $588,000
    1236
    sqft
    2
    Baths
    3
    Beds
    Welcome to this beautifully maintained 3-bedroom, 1.
    Pleasanton, CA 94588
    $849,000
    1302
    sqft
    2
    Baths
    2
    Beds
    Welcome to your dream home in the highly sought-after Verona community! This beautifully maintained corner unit offers 2 bedrooms and 2 bathrooms across 1,302 square feet of elegant living space.
    Winchester, CA 92596
    $719,900
    2822
    sqft
    4
    Baths
    4
    Beds
    Stunning Home with Gorgeous Curb Appeal and Spacious Layout! Provenza Vinyl Plank Flooring Throughout.
    Hesperia, CA 92345
    $532,240
    2193
    sqft
    2
    Baths
    4
    Beds
    NEW CONSTRUCTION! This new four-bedroom home offers convenient first-floor living.
    Rancho Palos Verdes, CA 90275
    $849,999
    1454
    sqft
    3
    Baths
    3
    Beds
    Stunning remodeled townhome in the heart of Rancho Palos Verdes, located in the highly sought-after Palos Verdes Peninsula Unified School District.
    Yorba Linda, CA 92886
    $1,575,000
    2029
    sqft
    4
    Baths
    4
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Santa Ana, CA 92703
    $539,000
    1248
    sqft
    3
    Baths
    3
    Beds
    Wonderful multi-story condo available in a very family friendly and securely gated neighborhood! The lay out of the condo with entrances on two difference floors makes it perfect for a multifamily set...
    Boulder Creek, CA 95006
    $99,500
    1798
    sqft
    1
    Baths
    2
    Beds
    Major fixer with no reports or inspections.
    San Jose, CA 95130
    $1,978,888
    1230
    sqft
    2
    Baths
    3
    Beds
    Welcome to 4784 Alex Drive, San Jose, CA, where contemporary design meets smart living.
    Mountain View, CA 94043
    $2,088,000
    1653
    sqft
    3
    Baths
    3
    Beds
    Unique and rare find two-story design with a backyard.
    Alamo, CA 94507-2002
    $1,995,000
    2443
    sqft
    3
    Baths
    3
    Beds
    Welcome to 2164 Nelda Way where warmth and timeless charm come together.
    Laguna Niguel, CA 92677
    $6,350,000
    4946
    sqft
    5
    Baths
    5
    Beds
    Completely reimagined with exquisite contemporary style, this one-of-a-kind ocean view home in guard-gated Ocean Ranch offers luxury living at its finest.
    Santa Rosa, CA 93012
    $4,399,000
    8754
    sqft
    9
    Baths
    7
    Beds
    Iconic Hilltop Estate in Lexington Hills | ~6 Acres | Indoor Pool | 270 Panoramic Views | Gated Luxury || Commanding the crest of a private hilltop in the coveted Lexington Hills enclave, this gated ~...
    Mission Viejo, CA 92692
    $1,025,000
    1445
    sqft
    2
    Baths
    2
    Beds
    Casta Del Sol Stunner! Welcome home to this tastefully remodeled 2 bedroom/2 bath plus den home located in the Prestigious gated 55+ community! LOCATION, LOCATION, LOCATION! This desirable SINGLE stor...
    Covina, CA 91722
    $848,800
    1332
    sqft
    3
    Baths
    3
    Beds
    Welcome to this charming single-story home nestled in a very prestigious neighborhood in the city of Covina.
    El Cajon, CA 92020
    $1,100,000
    2252
    sqft
    2
    Baths
    5
    Beds
    Featuring a whole-house water purification system, this home offers clean, filtered water from every tap including showers bringing an added level of wellness and comfort to everyday living.
    Fallbrook, CA 92028
    $619,900
    1480
    sqft
    3
    Baths
    4
    Beds
    Welcome home to this stylish and thoughtfully designed corner-unit located in the highly desirable Citro Community by Tri Pointe Homes.
    Montebello, CA 90640
    $770,000
    1048
    sqft
    1
    Baths
    3
    Beds
    Welcome to this beautifully updated and impeccably maintained single-story home, offering 3 spacious bedrooms and 1 full bathroom in one of Montebellos most desirable neighborhoods.
    Newport Beach, CA 92660
    $10,200,000
    4708
    sqft
    7
    Baths
    5
    Beds
    Located in the heart of Newport Beachs coveted Port Streets community, this exceptional custom homecompleted in 2023 by RDM Constructionoffers an elevated living experience defined by impeccable craft...


    ​​​​​​​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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