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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  • San Diego, CA 92116
    $1,650,000
    1747
    sqft
    3
    Baths
    4
    Beds
    Discover canyon living at its finest with this stunning, single-level Craftsman home, situated on a sprawling 3/4-acre lot in highly coveted north Normal Heights.
    Julian, CA 92036
    $529,900
    612
    sqft
    1
    Baths
    1
    Beds
    Welcome to Little Acorn Cabinthis 2023-built jewel is in the Pine Hills neighborhood of Julian, about 5 miles southwest of the historic town.
    Felton, CA 95018
    $550,000
    768
    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.
    San Jose, CA 95119
    $1,400,000
    1750
    sqft
    2
    Baths
    4
    Beds
    Welcome to this charming 4-bedroom, 2-bathroom home located in the vibrant city of San Jose.
    Walnut Creek, CA 94597
    $1,249,988
    950
    sqft
    1
    Baths
    3
    Beds
    Amazing brand new remodel in a desired Larkey neighborhood.
    Santa Cruz, CA 95060
    $1,599,000
    1064
    sqft
    1
    Baths
    3
    Beds
    SWEEET! Best describes this remodeled westside bungalow.
    San Diego, CA 92128
    $675,000
    1431
    sqft
    2
    Baths
    3
    Beds
    Welcome to this charming ground-floor condo in the highly desirable 55+ community of Oaks North.
    Chula Vista, CA 91911
    $599,000
    1100
    sqft
    2
    Baths
    3
    Beds
    Lovely 3 bedroom 2 bathroom home located in Chula Vista.
    Redwood City, CA 94061
    $1,998,000
    2974
    sqft
    4
    Baths
    8
    Beds
    Rarely does an opportunity like this come up.
    Oakland, CA 94618
    $1,250,000
    1723
    sqft
    2
    Baths
    4
    Beds
    Look at me now! Completely reimagined and demanding your attention.
    Tracy, CA 95376
    $999,988
    2612
    sqft
    4
    Baths
    4
    Beds
    Nestled in a quiet and sought-after neighborhood, this beautiful home offers the perfect blend of comfort, style, and convenience.
    Richmond, CA 94806
    $668,000
    1628
    sqft
    3
    Baths
    3
    Beds
    Spacious 3 bed and 2 1/2 bathroom townhouse built in 2007.
    San Diego, CA 92110
    $2,699,000
    2835
    sqft
    5
    Baths
    5
    Beds
    The epitome of coastal living.
    Mountain House, CA 95391
    $995,000
    2167
    sqft
    3
    Baths
    4
    Beds
    Welcome to an exceptional residence on a Premium Corner lot in Hansen Village.
    Pittsburg, CA 94565
    $869,995
    3084
    sqft
    4
    Baths
    4
    Beds
    Exquisitely upgraded and exceptionally rare, this home offers two master suitesone conveniently located on the main floor and another on the upper levelalong with two additional guest rooms, 3.
    Spring Valley, CA 91977
    $665,000
    1032
    sqft
    2
    Baths
    3
    Beds
    This single level 3 bed 2 bath house is on a quiet street in Spring Valley.
    Monterey, CA 93940
    $1,995,000
    0
    sqft
    0
    Baths
    0
    Beds
    This is an exceptionally well-maintained 2,994 SF automotive repair building space with 5 roll-up doors w/ high visibility on the corner Casa Verde Way and Del Monte Ave, a major thoroughfare between ...
    Oceanside, CA 92056
    $369,000
    1440
    sqft
    2
    Baths
    3
    Beds
    WOW! Welcome to this gem at Rancho Calavero, where 55+ residents enjoy a unique opportunity to live in a vibrant, rent-controlled community in Oceanside.
    Menifee, CA 92586
    $120,000
    1344
    sqft
    2
    Baths
    2
    Beds
    55+ Hillside Mobile Home Estates - Gated community - CLEAN/TURNKEY - 2 Bedrooms/ 2 Baths - Skyline Custom Golden Model manufactured home with approximately 1,344 square feet of interior living space.
    Palm Desert, CA 92260
    $359,000
    2052
    sqft
    2
    Baths
    3
    Beds
    If you are looking for a home with a little extra elbow room, close to amenities and great mountain views, this charming home checks all the boxes! The 3 bed/2bath split floor plan allows for comfort ...


    ​​​​​​​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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