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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  • Los Angeles, CA 90024
    $848,800
    1411
    sqft
    2
    Baths
    2
    Beds
    Located in the highly sought-after Westwood community, this spacious condo combines comfort, style, and convenience.
    San Mateo, CA 94404
    $590,000
    706
    sqft
    1
    Baths
    1
    Beds
    Bright and modern, this stunning 1-bedroom, 1-bath corner unit offers the perfect blend of comfort, style, and convenience.
    Blythe, CA 92225
    $339,999
    1556
    sqft
    2
    Baths
    3
    Beds
    This turnkey, move-in ready home is located in the Sonora community! With modern paint and wood tile flooring, it offers a cozy feel.
    Menifee, CA 92586
    $325,000
    921
    sqft
    1
    Baths
    2
    Beds
    This is a MUST SEE! This charming fixer-upper is a fantastic opportunity for buyers with a vision.
    Topanga, CA 90290
    $4,800,000
    1970
    sqft
    2
    Baths
    3
    Beds
    Welcome to La Esperanza Ranch! This 2-parcel ranch, just under 6 acres, is nestled in the serene hills of Topanga, California.
    Palmdale, CA 93551
    $495,000
    1280
    sqft
    2
    Baths
    4
    Beds
    Welcome to your new home in the vibrant City of Palmdale! This delightful property features 4 spacious bedrooms and 2 well-appointed bathrooms, perfect for comfortable living and entertaining.
    Fontana, CA 92336
    $798,800
    2355
    sqft
    3
    Baths
    4
    Beds
    Welcome to this stunning 4-bedroom, 3-bathroom home in North Fontana, located within the desirable Etiwanda School District.
    East Palo Alto, CA 94303
    $595,000
    776
    sqft
    1
    Baths
    1
    Beds
    Luxury Living at Woodland Creek.
    Escondido, CA 92026
    $1,299,500
    2882
    sqft
    5
    Baths
    5
    Beds
    This single story home offers a 4 bed, 3 1/2 bath with an additional 1 bed, 1 bath detached casita.
    Los Angeles, CA 90047
    $800,000
    1214
    sqft
    2
    Baths
    3
    Beds
    Welcome to this delightful home, ideally located in the heart of Los Angeles, nestled between Inglewood and the vibrant South Bay Beach Cities.
    Piru, CA 93040
    $729,990
    2120
    sqft
    3
    Baths
    3
    Beds
    Slow down, take a deep breath and experience a true sense of place.
    Los Angeles, CA 90044
    $730,000
    1940
    sqft
    3
    Baths
    3
    Beds
    Welcome to your future home in the vibrant West Athens neighborhood of Los Angeles.
    Santee, CA 92071
    $1,099,000
    1933
    sqft
    2
    Baths
    3
    Beds
    Welcome to 9049 Gorge Ave in Santee, CA a stunningly remodeled 3-bedroom, 2-bath home blending modern design with functionality.
    Los Angeles, CA 90043
    $995,999
    2214
    sqft
    2
    Baths
    5
    Beds
    Located in a charming neighborhood this gorgeous remodel features 2214 sq.
    Madera, CA 93638
    $270,000
    2279
    sqft
    2
    Baths
    2
    Beds
    Discover the possibilities at 900 Sonora St, a versatile property brimming with potential! Currently operating as a church, this property boasts a spacious layout featuring a kitchen, two restrooms, o...
    San Francisco, CA 94116
    $1,688,000
    1547
    sqft
    2
    Baths
    3
    Beds
    Discover this captivating 3-bedroom, 2bath home in the highly desirable Outer Sunset district.
    Los Angeles, CA 90048
    $3,799,000
    4397
    sqft
    5
    Baths
    5
    Beds
    Discover the pinnacle of Beverly Grove living in this stunning, gated home that combines contemporary design with inviting warmth.
    Lancaster, CA 93536
    $586,990
    2127
    sqft
    2
    Baths
    3
    Beds
    Introducing your dream home at Westview Estates by K.
    Los Angeles, CA 90031
    $1,350,000
    2132
    sqft
    3
    Baths
    6
    Beds
    Two vacant detached homes on one lot available in beautiful Frogtown, Elysian Valley, one of Los Angeles' hottest emerging neighborhoods.
    Malibu, CA 90265
    $2,895,000
    2300
    sqft
    3
    Baths
    3
    Beds
    BRAND-NEW CONSTRUCTION WITH SPECTACULAR OCEAN VIEWS.


    ​​​​​​​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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