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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  • Pine Mountain Club, CA 93222
    $439,900
    1185
    sqft
    2
    Baths
    2
    Beds
    Nestled in the heart of the mountains, this architectual gem blends modern design with rustic charm.
    Inglewood, CA 90303
    $875,000
    1870
    sqft
    3
    Baths
    3
    Beds
    Welcome to Inglewood highly desirable area.
    Carmel, CA 93923
    $3,585,000
    1598
    sqft
    4
    Baths
    3
    Beds
    Ideally located in the heart of downtown Carmel-by-the-Sea with world-class shopping, dining, and beaches around every corner, this stunning newly constructed home provides the perfect place to unwind...
    Ventura, CA 93003
    $595,000
    1224
    sqft
    2
    Baths
    3
    Beds
    Welcome home to this lovely townhome ideally situated across from the beautiful strawberry fields that Ventura County is home to.
    Moreno Valley, CA 92553
    $440,000
    946
    sqft
    2
    Baths
    2
    Beds
    Light and Bright Single Story End of Cul-de-sac Home with a LARGE REAR YARD and loads of potential for possible ADU.
    Huntington Beach, CA 92646
    $2,098,000
    2424
    sqft
    3
    Baths
    5
    Beds
    Welcome to 10201 Beverly Dr, a meticulously maintained, spacious 5-bedroom, 3-bathroom home located in the desirable South Huntington Beach on a quiet street just walking distance to award winning sch...
    La Quinta, CA 92253
    $1,099,900
    2752
    sqft
    4
    Baths
    3
    Beds
    This is the final opportunity to purchase the popular residence 1 floorplan.
    Los Angeles, CA 90046
    $8,350,000
    4530
    sqft
    5
    Baths
    4
    Beds
    A gated compound, set along "Celebrity Row" on an enormous 1 acre+ lot, reveals a dramatic architectural residence- totally private, and completely in sync with the serene nature surrounding i...
    Newport Beach, CA 92663
    $1,390,000
    3330
    sqft
    5
    Baths
    4
    Beds
    New Co-Ownership Opportunity: Own one-eighth of this professionally managed, turnkey home.
    Sugarloaf, CA 92386
    $249,000
    456
    sqft
    1
    Baths
    1
    Beds
    Find your perfect mountain escape with this cozy cabin, ideal for first-time buyers or a weekend retreat! With 1 bedroom and 1 bath, it offers Big Bear Mountain charm and is ideally located within wal...
    Joshua Tree, CA 92252
    $1,199,999
    2943
    sqft
    3
    Baths
    4
    Beds
    Perched on the edge of Joshua Tree National Park, discover your hillside retreat a symphony of renewal where this residence, having shed its former self, now beckons as a haven for exploration, creat...
    Long Beach, CA 90814
    $430,000
    693
    sqft
    1
    Baths
    1
    Beds
    Welcome to your dream home in the highly desirable Stoneybrook Villas community! This beautifully maintained first-floor condo offers a warm and inviting interior, featuring a neutral palette ready fo...
    El Monte, CA 91732
    $656,990
    1443
    sqft
    3
    Baths
    2
    Beds
    Welcome to this stunning modern tri-level home in the GATED Mirasol community! This brand-new, energy-efficient Plan 2 offers 2 bedrooms, 2.
    Indian Wells, CA 92210
    $5,995,000
    5469
    sqft
    5
    Baths
    4
    Beds
    This spacious Plan 923 inside Toscana Country Club offers modern desert living and stunning views of the lake, mountains, and Hole 16 of the Jack Nicklaus Signature North Golf Course.
    Walnut Creek, CA 94597
    $1,338,000
    2250
    sqft
    4
    Baths
    4
    Beds
    Brand-New & Ready for Move-in Jan-Feb! Discover this stunning new home by award-winning builder SummerHill Homes in the Oak Grove community, featuring 125 new townhomes in Walnut Creek.
    Rancho Mirage, CA 92270
    $3,997,000
    4348
    sqft
    5
    Baths
    3
    Beds
    Nestled in the hills of Rancho Mirage within the prestigious Mirada Estates community, this stunning 4,348 SqFt residence on an expansive 23,000+ SqFt lot captures breathtaking mountain and city light...
    Los Angeles, CA 90039
    $1,299,000
    1775
    sqft
    3
    Baths
    3
    Beds
    Special Price Reduction for Thanksgiving sale and move in before Christmas / New Year.
    San Diego, CA 92117
    $1,890,000
    2308
    sqft
    3
    Baths
    3
    Beds
    Sweeping views from this impeccable mission-style home in coveted Bay Park neighborhood.
    Vista, CA 92084
    $850,000
    1380
    sqft
    2
    Baths
    5
    Beds
    This lovely single-story home sits on 0.
    Buena Park, CA 90620
    $950,000
    1230
    sqft
    2
    Baths
    3
    Beds
    Welcome home to one of the most Serene and Beautifully upgraded Southern San Tract Locations in Buena Park.


    ​​​​​​​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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