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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  • Novato, CA 94945
    $649,000
    1128
    sqft
    2
    Baths
    2
    Beds
    Discover this inviting 2-bedroom, 2-bathroom refreshed unit that invokes serenity and shines with natural light.
    Lemoore, CA 93245
    $399,900
    1848
    sqft
    3
    Baths
    4
    Beds
    Welcome to this beautifully maintained 4-bedroom, 3-bathroom home offering the perfect blend of space, function, and charm.
    Fontana, CA 92336
    $717,664
    1805
    sqft
    3
    Baths
    4
    Beds
    NEW CONSTRUCTION - SINGLE-FAMILY HOMES NEW COMMUNITY! Welcome to Rosewood at Sierra Vista a brand, new collection of beautiful, single-family, detached, two-story homes with floor plans ranging from...
    Simi Valley, CA 93063
    $2,049,990
    4390
    sqft
    5
    Baths
    5
    Beds
    Your Move-In Ready Luxury Home Awaits in Pacific Royal Oaks.
    Rosamond, CA 93560
    $415,000
    1400
    sqft
    2
    Baths
    3
    Beds
    This lovely single story home offers approximately 1400 sq ft of living space though its open floor plan makes it feel like so much more.
    Salinas, CA 93906
    $410,000
    932
    sqft
    2
    Baths
    2
    Beds
    Welcome to Village North Lagoon in Salinas.
    Whittier, CA 90605
    $925,000
    1145
    sqft
    2
    Baths
    3
    Beds
    This beautifully remodeled Cape Cod-style home perfectly blends timeless charm with modern style.
    Los Angeles, CA 90028
    $1,899,000
    2388
    sqft
    3
    Baths
    5
    Beds
    A prime investment opportunity, situated mid-block on a palm tree lined street, moments from Los Feliz, Franklin Village, and the best amenities in Hollywood.
    La Crescenta, CA 91214
    $1,495,000
    1456
    sqft
    2
    Baths
    3
    Beds
    This inviting 3-bedroom, 2-bath home in the heart of La Crescenta features an updated kitchen with an island and a built-in coffee maker and wine cooler.
    Danville, CA 94506
    $2,195,000
    3964
    sqft
    4
    Baths
    5
    Beds
    Tucked in Danvilles coveted Wendt Ranch, this modern contemporary home blends timeless charm with elegant upgrades.
    Apple Valley, CA 92308
    $634,999
    3052
    sqft
    3
    Baths
    5
    Beds
    Stunning Two-Story Home on a Secluded Private Lot This spacious and beautifully designed two-story home sits on an expansive, private lot, offering both tranquility and luxury.
    Palm Desert, CA 92260
    $1,299,000
    2700
    sqft
    4
    Baths
    6
    Beds
    Welcome to one of Palm Deserts most refined and private retreats, nestled on an expansive 10,454 sq.
    Perris, CA 92570
    $519,000
    1723
    sqft
    2
    Baths
    4
    Beds
    4-Bedroom Single-Story with Large Lot & Room to Make It Your Own.
    Fontana, CA 92336
    $848,000
    3300
    sqft
    4
    Baths
    5
    Beds
    Welcome to this breathtaking North Fontana beauty built in 2019, solar-powered, and ready for you to move right in.
    Moreno Valley, CA 92557
    $672,000
    2346
    sqft
    2
    Baths
    5
    Beds
    Hard to Find a single story in a quiet neighborhood of Rancho Val Moreno with a panoramic view.
    Onyx, CA 93255
    $575,000
    3393
    sqft
    3
    Baths
    3
    Beds
    Nestled in the heart of the beautiful Kern River Valley, within 20 miles from both Kernville & Lake Isabella, this 1979 custom-built home offers a rare blend of space, comfort, & privacy.
    Castaic, CA 91384
    $779,000
    1562
    sqft
    3
    Baths
    3
    Beds
    Bravo Bravo! Welcome to Forest Meadow a stylish, private, and ultra-functional home located in the sought-after Bravo community of Castaic.
    Thousand Oaks, CA 91360
    $1,450,000
    2225
    sqft
    2
    Baths
    4
    Beds
    Welcome to 240 W Gainsborough Road in the heart of Thousand Oaks! This beautifully updated single-story home offers 4 spacious bedrooms, 2 bathrooms and 2,225 sq ft of comfortable living space.
    Los Angeles, CA 90064
    $899,900
    1560
    sqft
    2
    Baths
    2
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Huntington Beach, CA 92647
    $1,129,990
    1629
    sqft
    4
    Baths
    4
    Beds
    Experience urban living at its best in this stylish 4-bedroom, 3.


    ​​​​​​​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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