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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  • Monterey, CA 93940
    $2,495,000
    2793
    sqft
    4
    Baths
    3
    Beds
    Enjoy both location and beauty in the heart of Old Monterey, this stunning 3 bedroom, 3.
    Palm Springs, CA 92264
    $935,000
    2238
    sqft
    3
    Baths
    3
    Beds
    This light-filled California Ranch in south Palm Springs is ready to be updated to perfection.
    Kelseyville, CA 95451
    $359,000
    1375
    sqft
    2
    Baths
    3
    Beds
    Charming, low-maintenance home in the highly desirable Riviera Heights HOA, offering a wealth of amenities for residents, including lake access, a boat ramp, dock, picnic area, pool, and a clubhouse w...
    Monterey, CA 93940
    $439,000
    630
    sqft
    1
    Baths
    1
    Beds
    Welcome to the beautiful Monterey Peninsula! The Ocean Forest Condominium Complex is where convenience meets easy living, with an on-site clubhouse, outdoor pool, a great location just above the Monte...
    Los Angeles, CA 90036
    $2,500,000
    2841
    sqft
    3
    Baths
    4
    Beds
    Experience the warmth and character of this beautifully appointed cottage-style home, nestled in the heart of Mid-Wilshire.
    Los Angeles, CA 90036
    $1,650,000
    1683
    sqft
    2
    Baths
    3
    Beds
    Experience this elegantly designed cottage-style home in the sought-after Mid-Wilshire neighborhood.
    Aliso Viejo, CA 92656
    $1,799,000
    2849
    sqft
    3
    Baths
    4
    Beds
    Discover this stunning home in Ridgewood at Aliso Viejo, where a welcoming, light-filled interior and smart layout await! The soaring ceilings in the living room bring in abundant natural light and sw...
    Calabasas, CA 91302
    $2,399,000
    3419
    sqft
    3
    Baths
    4
    Beds
    Nestled in the prestigious Mulholland Heights on a serene, flat cul-de-sac, this exceptional property offers a warm welcome from every angle.
    Moreno Valley, CA 92557
    $524,000
    2222
    sqft
    3
    Baths
    4
    Beds
    Lovely 4-bedroom, 2.
    Dana Point, CA 92629
    $999,000
    1582
    sqft
    3
    Baths
    2
    Beds
    Rare to market, cathedral ceilings Dana Point condo priced under one million dollars.
    Huntington Beach, CA 92648
    $1,125,000
    1859
    sqft
    3
    Baths
    3
    Beds
    Located on an interior street, this spectacular home welcomes you with cathedral ceilings, light, bright and spacious rooms and its tastefully remodeled beauty.
    Palmdale, CA 93551
    $695,000
    1977
    sqft
    3
    Baths
    4
    Beds
    Beautiful and well maintained pool home nestled on a tranquil cul-de-sac, in a gated and exclusive community of West Palmdale.
    Perris, CA 92570
    $545,000
    2377
    sqft
    3
    Baths
    4
    Beds
    Beautifully maintained 4-bedroom, 2.
    Moreno Valley, CA 92555
    $490,000
    1589
    sqft
    3
    Baths
    3
    Beds
    Charming 3-bedroom, 2.
    Bakersfield, CA 93304
    $239,900
    1142
    sqft
    1
    Baths
    3
    Beds
    Calling all Investors, This 3 bedroom, 1 bathroom has so much Potential and makes an Ideal fixer-upper to add to your portfolio.
    Aliso Viejo, CA 92656
    $769,000
    1147
    sqft
    2
    Baths
    2
    Beds
    Location, Location, Location! This exceptional, private end-unit lower-level home is the perfect blend of comfort and convenience.
    Highland, CA 92346
    $239,900
    882
    sqft
    1
    Baths
    2
    Beds
    This is the one! Stunning, fully remodeled 2 bedroom condo, where modern elegance meets move-in-ready convenience.
    Diamond Bar, CA 91765
    $3,699,000
    5555
    sqft
    8
    Baths
    6
    Beds
    Discover a true gem in Diamond Bar's "Country Estates"a luxurious residence on a rare, expansive flat lot.
    San Diego, CA 92101
    $1,249,000
    1909
    sqft
    2
    Baths
    2
    Beds
    Explore this impressive 1,909 sq.
    Stevenson Ranch, CA 91381
    $1,875,000
    3562
    sqft
    5
    Baths
    5
    Beds
    Stevenson Ranch pool home with some of the most TREMENDOUS VIEWS! This popular Twilight Vista home at the top of Stevenson Ranch on a cul-de-sac boasts over 3,500 sqft with 5 bedrooms and 5 bathrooms.


    ​​​​​​​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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