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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  • Yorba Linda, CA 92887
    $1,449,000
    2586
    sqft
    3
    Baths
    4
    Beds
    Welcome to Your Dream Home at 5740 Via Del Potrero, Yorba Linda, CA 92887 - This stunning 4-bedroom, 3-bathroom home boasts 2,600 square feet of thoughtfully designed living space on a 5,700 square fo...
    Woodland Hills, CA 91367
    $1,799,000
    2403
    sqft
    3
    Baths
    4
    Beds
    Beautiful remodeled gated home in Woodland Hills! Attention to detail like no other, the photos dont do it justice.
    Bakersfield, CA 93309
    $499,900
    2245
    sqft
    4
    Baths
    5
    Beds
    Located in Southwest Bakersfield, this spacious 5-bedroom, 4-bathroom home is ideal for those who value both style and functionality.
    Palm Desert, CA 92211
    $565,000
    1602
    sqft
    3
    Baths
    3
    Beds
    Experience the best of desert living in this beautifully updated golf course home on a premium, elevated lot with stunning golf course, mountain & lake views.
    Santa Monica, CA 90404
    $639,000
    613
    sqft
    1
    Baths
    1
    Beds
    Surprising Find in the Vibrant City of Santa Monica! Abundantly bright 1 bedroom + 1 bath condo with a view of the neighborhood park.
    La Puente, CA 91744
    $700,000
    1551
    sqft
    3
    Baths
    3
    Beds
    Welcome to this charming two-story home in a desirable gated community in La Puente! Built in 2003, this spacious property offers 3 bedrooms, 2.
    Baldwin Park, CA 91706
    $699,000
    1120
    sqft
    1
    Baths
    3
    Beds
    Great starter home on a quite street located near Bursch Elementary and Downtown Baldwin Park which has many community centers, art centers and even an amphitheater.
    Glendale, CA 91201
    $2,250,000
    2634
    sqft
    3
    Baths
    3
    Beds
    Fully Updated Single Family Home * Located In NW Glendale Above Kenneth Rd.
    Lake Balboa, CA 91406
    $799,000
    1209
    sqft
    2
    Baths
    2
    Beds
    Welcome to this Beautiful Home with Great Curb Appeal in the Heart of Lake Balboa.
    Indio, CA 92201
    $581,900
    1679
    sqft
    2
    Baths
    3
    Beds
    From the moment you step into this home, you will fall in love with the wood-look flooring and incredible curb appeal.
    Los Angeles, CA 90046
    $2,495,000
    2332
    sqft
    2
    Baths
    3
    Beds
    Not sited on busy Nichols Canyon, this single-story residence is located in the ultra-serene and highly sought after Nichols Colony, a bastion of pedigreed mid-century Modern homes conceived by famed ...
    West Hollywood, CA 90069
    $1,125,000
    1105
    sqft
    2
    Baths
    1
    Beds
    Location, views, security! This home is an amazing deal, priced hundreds less per sq/ft than the building average.
    Anaheim, CA 92804
    $1,050,000
    1874
    sqft
    2
    Baths
    4
    Beds
    This single level home features 4 bedrooms, 2 bathrooms, a living room, a family room & a fireplace.
    Wrightwood, CA 92397
    $499,000
    1697
    sqft
    3
    Baths
    3
    Beds
    *WILD HORSE CANYON- HARD TO FIND* Nestled in the serene landscape of Wrightwood this beautiful TURNKEY property that offers a perfect blend of modern elegance and cozy charm.
    Cathedral City, CA 92234
    $415,000
    1456
    sqft
    2
    Baths
    3
    Beds
    Best deal in this location! House offers 4 bedrooms and 2 full baths.
    Los Angeles, CA 90077
    $5,995,000
    2269
    sqft
    3
    Baths
    3
    Beds
    Published JR Davidson Mid-Century Modern re-imagined with a soul.
    Fremont, CA 94538
    $569,000
    1053
    sqft
    2
    Baths
    2
    Beds
    Welcome to this beautiful condominium conveniently located in the highly desirable Monte Merano Community within a short distance to nearby Fremont BART.
    Riverside, CA 92509
    $125,000
    1022
    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.
    Newport Beach, CA 92661
    $6,995,000
    2565
    sqft
    5
    Baths
    3
    Beds
    Southern French Transitional meets beach house in this stunning custom-built Balboa Peninsula 3-bedroom plus den, 5-bath home in an unmatched location just two doors from the Bay and two blocks from t...
    Cherry Valley, CA 92223
    $425,000
    2040
    sqft
    2
    Baths
    5
    Beds
    Calling all investors! Has a lot of potential big lot an spacious home.


    ​​​​​​​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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