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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  • Adelanto, CA 92301
    $520,000
    1416
    sqft
    2
    Baths
    3
    Beds
    Presenting an elegant single-family home nestled in the serene district of Adelanto, CA.
    Desert Hot Springs, CA 92240
    $499,000
    2486
    sqft
    2
    Baths
    3
    Beds
    Located in the most exclusive area of Desert Hot Springs, this home offers panoramic views and seamless indoor-outdoor living.
    Baldwin Park, CA 91706
    $699,000
    862
    sqft
    2
    Baths
    2
    Beds
    This charming 2-bedroom, 2-bath home is situated in the heart of Baldwin Park, a city with a rich history and a bright future.
    San Diego, CA 92113
    $590,000
    1392
    sqft
    1
    Baths
    3
    Beds
    Great opportunity in Logan Heights! This as-is property is located in a growing and sought-after neighborhood.
    Panorama City, CA 91402
    $335,000
    779
    sqft
    1
    Baths
    2
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Clovis, CA 93619
    $784,000
    3141
    sqft
    4
    Baths
    6
    Beds
    Nestled in a upscale Clovis neighborhood, this stunning McCaffrey home is a perfect blend of style, comfort, & custom touches.
    San Marcos, CA 92078
    $654,900
    1209
    sqft
    3
    Baths
    2
    Beds
    Ready to be HOME for the Holidays?
    Lakeview Terrace, CA 91342
    $1,350,000
    1986
    sqft
    2
    Baths
    3
    Beds
    This beautifully remodeled 3-bedroom, 2-bathroom home with 1,986 SqFt of living space in Lake View Terrace, Sylmar, is now available.
    Los Angeles, CA 90045
    $1,250,000
    1084
    sqft
    1
    Baths
    3
    Beds
    Discover the untapped potential of 7838 Truxton Ave, in Westport Heights.
    Oxnard, CA 93033
    $749,000
    1331
    sqft
    2
    Baths
    4
    Beds
    Discover the Perfect Home in Beautiful Oxnard, California!Located just minutes away from stunning beaches, the Navy Base, and the premier shopping and dining experiences at The Collection Riverpark.
    Los Angeles, CA 90077
    $39,995,000
    20000
    sqft
    11
    Baths
    6
    Beds
    This sleek newly constructed estate boasts extraordinary city views and unrivaled indoor-outdoor entertaining space with an Olympic-sized pool, screening room with 4k D-ILA Precision projector, spa wi...
    Hesperia, CA 92345
    $539,900
    2242
    sqft
    3
    Baths
    3
    Beds
    Charming and unique 3-bedroom, 2-bathroom home in a 22,000 square foot lot and 5 car garage, is located in a private cul de sac in Hesperia.
    Huntington Beach, CA 92648
    $1,699,000
    2298
    sqft
    3
    Baths
    3
    Beds
    Fabulous location for this end unit townhome in the ocean close, prestigious guard gated community of SeaCliff on the Greens overlooking a serene greenbelt within walking distance to the beach and the...
    Redondo Beach, CA 90277
    $1,849,000
    1296
    sqft
    2
    Baths
    3
    Beds
    Your dream home is now available on one of the most coveted streets in the Avenues of South Redondo Beach.
    Upland, CA 91786
    $659,000
    1420
    sqft
    3
    Baths
    3
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Anaheim Hills, CA 92808
    $819,000
    1250
    sqft
    3
    Baths
    3
    Beds
    Welcome to your dream townhome in the sought-after Anaheim Hills community of Summit Park! This beautiful three-bedroom, 2.
    San Diego, CA 92154
    $810,000
    1258
    sqft
    2
    Baths
    3
    Beds
    This cozy 3-bedroom, 2-bath upgraded home offers a warm and inviting atmosphere perfect for family living.
    Ontario, CA 91764
    $615,000
    1130
    sqft
    1
    Baths
    2
    Beds
    TURNKEY PROPERTY!!! Perfect starter family home in an exclusive area of Ontario!!! Less than 5 minutes from 10 Freeway without all that noise, PERFECT FOR COMMUTERS!!! This property has the perfect cu...
    Fallbrook, CA 92028
    $670,000
    1668
    sqft
    3
    Baths
    4
    Beds
    If you've been searching for a home that fits your needs, this is it! A Plan 3 which is THE largest of the Zutano homes is up for grabs! Your new home awaits and in time for the holidays! This new...
    San Juan Capistrano, CA 92675
    $3,150,000
    4152
    sqft
    6
    Baths
    5
    Beds
    Premier Location in the Exclusive Mirador Community of Rancho San Juan.


    ​​​​​​​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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