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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  • Pomona, CA 91768
    $975,000
    2220
    sqft
    3
    Baths
    3
    Beds
    Located in the prestigious hillside community of Ganesha Hills, past the gate and up the hill is a contemporary home designed, circa 1965 with today's lifestyle in mind.
    Beaumont, CA 92223
    $450,000
    1592
    sqft
    2
    Baths
    2
    Beds
    This beautiful Retreat model, with partial mountain and hilltop views.
    Rosamond, CA 93560
    $519,990
    2286
    sqft
    3
    Baths
    4
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Lake Arrowhead, CA 92352
    $2,828,000
    2126
    sqft
    3
    Baths
    5
    Beds
    This Historical Classic Vintage Lakefront Home with take you on a magical tour with each room having an Alluring Theme.
    Moorpark, CA 93021
    $625,000
    1562
    sqft
    3
    Baths
    4
    Beds
    This beautifully updated townhome offers a move-in ready experience with modern finishes throughout.
    San Jacinto, CA 92583
    $549,900
    2764
    sqft
    3
    Baths
    5
    Beds
    Welcome to this spacious 2,764 sq.
    Lake Elsinore, CA 92532
    $585,000
    2387
    sqft
    3
    Baths
    3
    Beds
    This corner lot opportunity is filled with Lake Elsinores natural landscape.
    Los Angeles, CA 90046
    $699,000
    1009
    sqft
    2
    Baths
    2
    Beds
    Welcome to refined living on the 9th floor of Hollywoods prestigious Franklin Towers! This spacious 2-bedroom, 2-bathroom high-rise condo offers sweeping mountain and city light views, two private bal...
    Corona, CA 92882
    $999,888
    2605
    sqft
    3
    Baths
    5
    Beds
    Welcome to your stunning new POOL HOME! This beautiful home features over 2,600 sqft of living space and is ready for your family to move in! No HOA, low taxes, and located in the coveted Sierra Del O...
    Mission Viejo, CA 92692
    $1,149,000
    1941
    sqft
    3
    Baths
    3
    Beds
    Welcome to your New home in the fabulous 55+ community of Palmia.
    Norwalk, CA 90650
    $799,900
    1591
    sqft
    2
    Baths
    3
    Beds
    Very charming home from the moment you walk in.
    Rosamond, CA 93560
    $542,200
    2163
    sqft
    3
    Baths
    3
    Beds
    This stunning home in the highly sought-after Terra Sol Community is a true gem with exceptional curb appeal and a host of luxurious upgrades is MOVE-IN READY!!!! Pavered steps lead up to this beautif...
    Los Angeles, CA 90057
    $409,000
    715
    sqft
    1
    Baths
    1
    Beds
    Come and see this penthouse unit that is tastefully remodeled! This 1 bedroom unit has new kitchen countertop with new dishwasher and new oven.
    Walnut Creek, CA 94597
    $579,000
    1211
    sqft
    2
    Baths
    2
    Beds
    Welcome to your dream home! This beautiful two-story condo features a galley kitchen, perfect for cooking and entertaining.
    Lake Forest, CA 92630
    $588,000
    957
    sqft
    2
    Baths
    2
    Beds
    Upstairs corner-unit condo in a prime location in the peaceful White Oak community of Lake Forest with only one shared common wall and spacious balcony.
    Chatsworth, CA 91311
    $489,000
    1348
    sqft
    3
    Baths
    2
    Beds
    tri-level condo priced $40k below market in a beautiful million $ single family residential area of chatsworth walking distance to shops, transportation and schools.
    Hemet, CA 92545
    $599,000
    2071
    sqft
    2
    Baths
    2
    Beds
    Dream home! Perfect, perfect, perfect.
    Antioch, CA 94509
    $495,000
    1044
    sqft
    1
    Baths
    3
    Beds
    Beautifully Updated! Ready to Move In!, New Interior & Exterior Paint, Central AC & Heating, New Flooring & New Carpet throughout, New Bathroom, New Interior Doors, Ceiling Fans in Bedrooms, Spacious...
    Perris, CA 92570
    $455,000
    1052
    sqft
    2
    Baths
    3
    Beds
    Well located SFR (attached) in a quiet neighborhood very close to shopping.
    Orange, CA 92869
    $479,900
    768
    sqft
    1
    Baths
    1
    Beds
    Discover your urban oasis at 4900 E Chapman Ave #80 in Orange, CA.


    ​​​​​​​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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