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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  • Ventura, CA 93001
    $589,000
    908
    sqft
    1
    Baths
    2
    Beds
    Welcome Home! This beautifully updated spacious 2-bedroom, 1-bathroom home offers a perfect blend of comfort and convenience.
    Moreno Valley, CA 92553
    $710,000
    2816
    sqft
    3
    Baths
    4
    Beds
    Discover your next home in this beautiful two-story gem, nestled in a quiet, family-friendly cul-de-sac.
    Rancho Mirage, CA 92270
    $1,375,000
    4009
    sqft
    4
    Baths
    5
    Beds
    Discover a one-of-a-kind desert oasis where sophistication meets effortless elegance in this exquisite Princes model home in the prestigious Victoria Falls community.
    San Diego, CA 92101
    $489,000
    674
    sqft
    1
    Baths
    1
    Beds
    Exquisite 1 bedroom facing the quieter courtyard of the highly sought after Icon development located across the street from the ballpark.
    Lancaster, CA 93534
    $469,000
    1568
    sqft
    2
    Baths
    3
    Beds
    Come and take a look at this Lovely Move In Ready Home! This home is 1,568 sq ft with 3 bedroom 2 bath plus an added enclosed patio room.
    Yucca Valley, CA 92284
    $325,000
    1323
    sqft
    2
    Baths
    2
    Beds
    Yucca Valley, 2-bedroom, 2-bathroom house on a corner lot situated in a serene desert environment with beautiful natural surroundings, characterized by views of the hills and desert lights.
    Irvine, CA 92618
    $759,900
    1153
    sqft
    3
    Baths
    2
    Beds
    Don't pass this up!! Great for 1st time buyer or investors.
    El Monte, CA 91731
    $849,000
    1440
    sqft
    2
    Baths
    3
    Beds
    Welcome to this charming single-family home, offering a blend of classic style and modern convenience.
    Bloomington, CA 92316
    $589,000
    2234
    sqft
    3
    Baths
    4
    Beds
    Seller needs to sell.
    Riverside, CA 92505
    $675,000
    1485
    sqft
    2
    Baths
    3
    Beds
    Welcome to 10937 Desert Sand Ave, Riverside! This charming 3-bedroom, 2-bathroom pool home is in a wonderful neighborhood, perfect for those seeking a mix of comfort and convenience.
    Sausalito, CA 94965
    $7,750,000
    7308
    sqft
    5
    Baths
    5
    Beds
    Luxury Live Auction! Bidding to start from $7,750,000! Transformed in 2013 from the iconic Star of the Sea Church into a luxury residence perfectly located overlooking the bay.
    Los Angeles, CA 90068
    $2,200,000
    3500
    sqft
    4
    Baths
    5
    Beds
    Nestled on a third of an acre in the Hollywood Hills, this stunning 1920s Spanish villa offers a perfect blend of rustic charm and modern luxury.
    Palm Desert, CA 92211
    $635,000
    1918
    sqft
    3
    Baths
    3
    Beds
    Welcome to Palm Valley Country Club! Located on a prime parcel & boasting awesome double fairway & surrounding panoramic mountain vistas, this spacious 3 bedroom, 3 bath home can be your desert dream ...
    Murrieta, CA 92562
    $649,000
    2100
    sqft
    2
    Baths
    3
    Beds
    Welcome to the guard gated senior community neighborhood of The Colony.
    Riverside, CA 92506
    $875,000
    2218
    sqft
    3
    Baths
    4
    Beds
    Welcome to this amazing single story pool home in Riverside! You will fall in love with the open kitchen concept and laminate wood flooring throughout the home.
    La Quinta, CA 92253
    $600,000
    2025
    sqft
    2
    Baths
    3
    Beds
    Step into your own La Quinta paradise located in Bella Vista and experience a sense of luxury.
    Valley Center, CA 92082
    $2,495,000
    5494
    sqft
    6
    Baths
    6
    Beds
    Views, Views, & more Views at Ridge Ranch! Welcome to this stunning 10.
    Anderson, CA 96007
    $269,000
    0
    sqft
    0
    Baths
    0
    Beds
    Become a commercial property owner.
    Garden Grove, CA 92844
    $4,250,000
    0
    sqft
    0
    Baths
    0
    Beds
    To schedule an Open House or to request more information about this property, call Collins Coastal at (858) 252-0200.
    Ventura, CA 93003
    $398,000
    0
    sqft
    0
    Baths
    0
    Beds
    THIS IS A TURN KEY PHENOMENAL WO / MAN CAVE - INDUSTRIAL COMPLEX SET UP TO RELAX: LUNCH ROOM, SHOWER, WASH CLOTHES, PLAY CARDS WORK ON VEHICLES, CRAFTS, TILE FLOOR IN LUNCH ROOM & ENTRY WAY.


    ​​​​​​​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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