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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  • Blythe, CA 92225
    $229,000
    1176
    sqft
    1
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    La Quinta, CA 92253
    $1,585,000
    2535
    sqft
    4
    Baths
    3
    Beds
    **OPEN 11am-1pm WED 11/20, THUR 11/21, FRI 11/22, SAT 11/23 COME SEE!** This Camina's private courtyard leads to the covered rotunda entry and into the large foyer that opens to the bedroom wing,...
    Pacifica, CA 94044
    $1,495,000
    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.
    Santa Clara, CA 95050
    $5,200,000
    0
    sqft
    0
    Baths
    0
    Beds
    Fantastic location within the heart of Silicon Valley.
    Santa Clara, CA 95050
    $1,799,000
    0
    sqft
    0
    Baths
    0
    Beds
    Presenting a rare opportunity to own your own 4 Plex in Santa Clara's sought-after Old Quad Neighborhood.
    Salinas, CA 93901
    $825,000
    0
    sqft
    0
    Baths
    0
    Beds
    Welcome to this charming home located in the heart of Salinas.
    Salinas, CA 93901
    $715,000
    0
    sqft
    0
    Baths
    0
    Beds
    Welcome to this charming Duplex in Salinas, featuring 1,455 square feet of living space on a spacious 6,400 square foot lot.
    Burlingame, CA 94010
    $1,900,000
    0
    sqft
    0
    Baths
    0
    Beds
    Discover a fantastic investment opportunity with this charming triplex nestled in the beautiful community of coveted Burlingame.
    San Mateo, CA 94401
    $2,500,000
    0
    sqft
    0
    Baths
    0
    Beds
    Welcome to 603 Woodside Way, this 4-plex property located in the heart of San Mateo.
    Soquel, CA 95073
    $295,500
    800
    sqft
    1
    Baths
    1
    Beds
    Move in for the Holidays! This new price is your first gift! Charming 1-bedroom, 1-bathroom home in the desirable city of Soquel.
    Cardiff by the Sea, CA 92007
    $3,349,000
    0
    sqft
    0
    Baths
    0
    Beds
    Each unit spans approximately 1037 square feet, featuring 2 bedrooms and 1 bathroom, making them ideal for a variety of living arrangements.
    La Jolla, CA 92037
    $3,995,000
    2890
    sqft
    3
    Baths
    3
    Beds
    Endless views of breaking waves, sunsets, the coastline, and Mission Bay abound from this 1967 Mid-Century residence presiding on .
    San Diego, CA 92124
    $1,300,000
    2502
    sqft
    3
    Baths
    4
    Beds
    This four-bedroom, two and a half bathroom house offers approximately 2,500 square feet of living space.
    Escondido, CA 92026
    $899,000
    1650
    sqft
    2
    Baths
    3
    Beds
    This fully renovated home features panoramic views and is located on 1 Acre in a quiet neighborhood in North Escondido.
    Sanger, CA 93657
    $1,150,000
    2651
    sqft
    2
    Baths
    3
    Beds
    Country living at its best! Custom-built NW Sanger Horse Ranch/livestock located south of HWY180 & walking distance to Reagan Elem.
    Corralitos, CA 95076
    $649,999
    1176
    sqft
    2
    Baths
    3
    Beds
    Welcome to this charming 3-bedroom, 2-bathroom home in the beautiful Rancho Corralitos 55+ park.
    Antioch, CA 94509
    $749,000
    2988
    sqft
    3
    Baths
    5
    Beds
    Welcome to 3561 Lovebird Way, a spacious and inviting 5-bedroom, 3-bathroom home located in a peaceful neighborhood in Antioch, CA.
    Bonita, CA 91902
    $1,399,000
    1630
    sqft
    3
    Baths
    3
    Beds
    Stunning, newly remodeled 3 bed home on oversized 0.
    Ramona, CA 92065
    $995,000
    2124
    sqft
    3
    Baths
    4
    Beds
    2+ Acres!! and you can use it all plus this house feels like home and you must see to appreciate it.
    Julian, CA 92036
    $1,049,000
    3650
    sqft
    4
    Baths
    5
    Beds
    Custom, custom, custom!!!!!!!! From the Venetian plastered walls to the leopard carpeting on the stairs, this one of a kind residence is truly amazing.


    ​​​​​​​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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