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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  • Mountain View, CA 94043
    $329,000
    0
    sqft
    2
    Baths
    3
    Beds
    Enjoy morning coffee on the front porch of this impeccably maintained home.
    Hesperia, CA 92345
    $149,000
    1280
    sqft
    2
    Baths
    2
    Beds
    Don't miss this fully redone manufactured home in the GATED SENIOR COMMUNITY, 55+, Willow Oak Estates.
    Corona, CA 92882
    $149,999
    1152
    sqft
    2
    Baths
    3
    Beds
    3 BEDROOM / 2 BATH MANUFACTURED HOME WITH CARPORT LOCATED IN CORONA WEST MOBILE PARK.
    Hemet, CA 92545
    $79,000
    1440
    sqft
    2
    Baths
    2
    Beds
    Welcome home to this lovely 2 bedroom, 2 bath, 1440 square foot manufactured home in the warm and friendly 55+ Foothills of Hemet! This complex is gated and is single level with no stairs! Brand new f...
    Carson, CA 90746
    $459,000
    0
    sqft
    2
    Baths
    3
    Beds
    Discover your ideal home in the coveted Colony Cove Mobile Estates, a premier 55+ community in Carson, CA.
    Hawthorne, CA 90250
    $1,200,000
    0
    sqft
    0
    Baths
    0
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Los Angeles, CA 90035
    $2,600,000
    0
    sqft
    0
    Baths
    0
    Beds
    Welcome to 911-913 S Shenandoah, CHARMING SPANISH DUPLEX with SWIMMING POOL & SPA.
    Los Angeles, CA 90011
    $1,250,000
    0
    sqft
    0
    Baths
    0
    Beds
    Great income property, ideal for first time home buyer or seasoned investor that wishes to rent and retain.
    Long Beach, CA 90802
    $1,150,000
    0
    sqft
    0
    Baths
    0
    Beds
    PRIME EASTSIDE LOCATION! 4-PLEX ALL 1 BEDROOM/1 BATHROOM UNITS.
    Martinez, CA 94553
    $1,495,000
    0
    sqft
    0
    Baths
    0
    Beds
    This exceptional fourplex features four (4) fully remodeled 2-bedroom, 1-bathroom units, each thoughtfully updated for modern comfort.
    San Diego, CA 92103
    $895,000
    0
    sqft
    0
    Baths
    0
    Beds
    Location*Location*location****Rare***Coveted Marston Hills***Canyon Duplex ***Listed Less Than Appraised Value $920,000 To Create Urgency***335 Sq Ft Studio***Project LT Rent $2,150 Mth ***AIRBNB $3,5...
    Livermore, CA 94551
    $999,000
    1427
    sqft
    2
    Baths
    3
    Beds
    Welcome to Somerset West.
    San Diego, CA 92127
    $5,650,000
    5547
    sqft
    6
    Baths
    5
    Beds
    Welcome to a mint one-of-a-kind single-level estate in the exclusive, guard-gated community of Santa Luz.
    Antioch, CA 94531
    $824,900
    3272
    sqft
    3
    Baths
    5
    Beds
    Great Value - Antioch home with 5 bedrooms and 3 baths with 3,272 sq.
    Milpitas, CA 95035
    $1,698,888
    1824
    sqft
    3
    Baths
    5
    Beds
    Charming Family Home in Desirable "Pines" Neighborhood!!- Ideal location with modern upgrades!! Discover this beautifully presented home, where convenience meets comfort! Perfectly positioned ...
    El Cerrito, CA 94530
    $998,000
    1578
    sqft
    2
    Baths
    3
    Beds
    Nice split-level house in a great, convenient location on a spacious corner lot with lots of recent upgrades including new roof, new electrical, new kitchen cabinets, new appliances, new flooring, new...
    Santee, CA 92071
    $803,638
    1834
    sqft
    4
    Baths
    4
    Beds
    NEW CONSTRUCTION! QUICK CLOSING! Welcome to this stunning newly constructed home, offering the perfect blend of modern luxury and timeless design.
    Oakland, CA 94605
    $1,100,000
    2480
    sqft
    3
    Baths
    3
    Beds
    Come take a look at this beautifully maintained Ranch style home in the sought out Chabot Park neighborhood in the Oakland Hills.
    Vallejo, CA 94589
    $459,000
    1336
    sqft
    2
    Baths
    3
    Beds
    Welcome to 127 Rutgers Ct, a charming, spacious, single-story home situated on a peaceful, semi cul-de-sac.
    Napa, CA 94559
    $999,000
    1375
    sqft
    2
    Baths
    3
    Beds
    Two structures, one lot! This 1,375 sqft single family home has an addition detached 900 sqft warehouse.


    ​​​​​​​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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