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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  • Fullerton, CA 92831
    $1,299,000
    2262
    sqft
    3
    Baths
    4
    Beds
    Located in the exclusive gated community of Threewoods, this development is highly sought after.
    Jurupa Valley, CA 91752
    $999,000
    3780
    sqft
    4
    Baths
    5
    Beds
    Lennar-Built, Cu-de-sac, NO HOA, 16-Panel paid-off solar system! Welcome to this spacious and thoughtfully designed property, ideal for both comfortable living and entertaining! As you step inside, yo...
    Ojai, CA 93023
    $1,050,000
    1753
    sqft
    3
    Baths
    2
    Beds
    A rare opportunity to own the largest floor plan in The Hitching Post Estates with two bedrooms, an office, and downstairs studio with its own half bath and private entrance for a total of 4 rooms.
    Hesperia, CA 92345
    $449,000
    1428
    sqft
    2
    Baths
    3
    Beds
    This newly remodeled home with 3-bedroom, 2-bathroom plus a bonus room is the perfect starter home for first-time buyer.
    San Jacinto, CA 92583
    $570,000
    1190
    sqft
    1
    Baths
    3
    Beds
    This Property Has Been Upgraded.
    Lake Elsinore, CA 92530
    $550,000
    1000
    sqft
    2
    Baths
    3
    Beds
    Excellent opportunity for a new family with this beautiful 2 story home that has three (3) bedrooms and (2) full bath and touch up bathroom downstairs with toilet/sink.
    Ventura, CA 93001
    $574,999
    440
    sqft
    1
    Baths
    1
    Beds
    Welcome to 112 West Park Row, discover this charming bungalow- style single-family home in the heart of west Ventura! With NO HOA, this property offers the ultimate combination of convenience and coas...
    Fullerton, CA 92835
    $3,150,000
    4470
    sqft
    5
    Baths
    5
    Beds
    Discover the epitome of modern luxury in this newly constructed two-level residence in Fullerton.
    Long Beach, CA 90813
    $499,000
    524
    sqft
    2
    Baths
    2
    Beds
    CUTE single family home for the price of a condo! but with no HOA.
    Escondido, CA 92025
    $1,259,000
    2180
    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.
    Lancaster, CA 93536
    $1,899,990
    5478
    sqft
    5
    Baths
    7
    Beds
    ***LIVE BEAUTIFULLY*** Welcome to Antelope Valley's most iconic estate, a truly one-of-a-kind, unduplicatable, and irreplaceable property situated on the most coveted lot within the exclusive, gua...
    Martinez, CA 94553
    $849,000
    2152
    sqft
    4
    Baths
    3
    Beds
    Amazing Huge 4th bonus room on 3rd floor with its own full bath and closet.
    Carlsbad, CA 92011
    $319,000
    1200
    sqft
    2
    Baths
    3
    Beds
    Welcome to your Oasis by the Sea.
    San Diego, CA 92124
    $599,000
    1060
    sqft
    2
    Baths
    2
    Beds
    Welcome to this wonderful 2 bedroom, 2 bath condo, located in the heart of Tierrasanta, perfectly blending convenience and comfort.
    Los Osos, CA 93402
    $1,090,000
    2172
    sqft
    2
    Baths
    3
    Beds
    Ocean view, specifically Morro Rock and Los Osos Bay! Close to the beach and nature preserve.
    Campbell, CA 95008
    $600,000
    668
    sqft
    1
    Baths
    1
    Beds
    Welcome to 2857 S.
    Victorville, CA 92392
    $440,000
    1646
    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.
    San Carlos, CA 94070
    $1,199,888
    1570
    sqft
    2
    Baths
    3
    Beds
    No need to dream any longer - Breathtaking panoramic views of the Peninsula, the SF Bay, and all the way out to the East Bay Hills.
    Indio, CA 92201
    $719,900
    2320
    sqft
    4
    Baths
    4
    Beds
    Discover this stunning 4-bedroom, 4-bathroom home offering over 2,300sf of living space nestled in the Estacio gated community of South Indio's desirable ''Festival Corridor'' feat...
    Palos Verdes Estates, CA 90274
    $2,650,000
    2136
    sqft
    3
    Baths
    4
    Beds
    Experience Quintessential California Living in a Mid-Century Masterpiece.


    ​​​​​​​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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