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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  • Camarillo, CA 93012
    $750,000
    1511
    sqft
    2
    Baths
    2
    Beds
    2 bed + 2 bath single story fixer home with mountain views in the desirable 55+ gated golf community of The Springs in Camarillo.
    San Juan Capistrano, CA 92675
    $4,195,000
    4496
    sqft
    6
    Baths
    5
    Beds
    This is the one! Adorned with sophisticated elegance this Residence 5 in Crystal Downs North in San Juan Capistrano on a gated cul-de-sac street has been fabulously upgraded and enhanced for relaxed ...
    Chino, CA 91708
    $699,800
    2150
    sqft
    4
    Baths
    4
    Beds
    Wonderful Lennar built 4 bedroom 3 & 1/2 bathroom END unit property located in the desirable community of the Preserve.
    Seal Beach, CA 90740
    $330,000
    718
    sqft
    1
    Baths
    2
    Beds
    Located in the desirable 55+ community of Leisure World, this light-filled 2-bedroom, 1-bath home offers a bright living room with plantation shutters, a functional kitchen with ample storage, and a p...
    Outside Area (Outside Ca), DE 19944
    $1,425,000
    2200
    sqft
    4
    Baths
    4
    Beds
    Modernized, deceivingly large cottage on quiet canal street in Fenwick Island, DE.
    Ontario, CA 91764
    $614,900
    1462
    sqft
    3
    Baths
    3
    Beds
    Welcome to 2928 Via Fiano.
    Sylmar, CA 91342
    $469,000
    1146
    sqft
    2
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Sherman Oaks, CA 91423
    $4,995,000
    4900
    sqft
    7
    Baths
    6
    Beds
    Elegant Traditional meets French Modern.
    San Francisco, CA 94107
    $668,000
    933
    sqft
    2
    Baths
    1
    Beds
    This stunning live/work loft features 1 bedroom, 1.
    Venice, CA 90291
    $2,595,000
    2379
    sqft
    4
    Baths
    4
    Beds
    Classic 1910 Craftsman with lots of original vintage charm and details.
    Los Angeles, CA 90017
    $685,000
    852
    sqft
    1
    Baths
    1
    Beds
    Welcome to this expansive 1-bedroom residence in the prestigious Metropolis Tower, offering 852 sqft of modern elegance.
    Westlake Village, CA 91361
    $650,000
    1020
    sqft
    2
    Baths
    3
    Beds
    Nice Condo in Great Location! Enjoy this 3 Bedroom 2 Bathroom condo in Westlake Village.
    Palm Desert, CA 92211
    $525,000
    1536
    sqft
    3
    Baths
    3
    Beds
    Charming home in Palm Desert Country Club area with a Casita! Plus a large backyard, a view of the golf course and a Beautiful Pebbletec Pool with a raised Waterfall Spa! The permitted Detached Casita...
    Los Angeles, CA 90008
    $1,925,000
    4000
    sqft
    4
    Baths
    4
    Beds
    Make sure to watch the virtually staged video and enjoy this amazing opportunity set in the prestigious hills of Baldwin Hills Estates, this palatial 4,000 sq ft custom designed and built residence of...
    Los Angeles, CA 90008
    $749,000
    1468
    sqft
    2
    Baths
    2
    Beds
    This 1924 Leimert Park gem is bursting with character, charm, and serious upside.
    Inglewood, CA 90302
    $850,000
    1178
    sqft
    2
    Baths
    2
    Beds
    Discover timeless charm and endless possibilities in this Inglewood home, perfectly situated on a generous 6,771 sq ft lot.
    Nipomo, CA 93444
    $1,899,000
    3724
    sqft
    4
    Baths
    3
    Beds
    This stunning, stone-clad architectural masterpiece offers a rare blend of timeless elegance and natural serenity.
    29 Palms, CA 92277
    $240,000
    1254
    sqft
    2
    Baths
    3
    Beds
    Welcome to Sunnyvale! Your desert retreat in the heart of Twentynine Palms! This charming single-story home offers 3 spacious bedrooms, 2 bathrooms, plus a versatile bonus area perfect for a home offi...
    Madera, CA 93638
    $660,000
    1912
    sqft
    2
    Baths
    3
    Beds
    This gated contemporary ranch estate blends timeless charm with modern design, perched on a bluff overlooking a lush citrus orchard and bordered by a peaceful creek.
    Lakeport, CA 95453
    $975,000
    1917
    sqft
    2
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.


    ​​​​​​​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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