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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  • Victorville, CA 92395
    $550,000
    3116
    sqft
    3
    Baths
    4
    Beds
    Welcome to 12807 Fairway Road, an elegantly remodeled residence in the coveted Spring Valley Lake community.
    Palm Desert, CA 92260
    $2,470,000
    5316
    sqft
    6
    Baths
    5
    Beds
    Welcome to Ironwood Heights at Ironwood Country Club, where modern elegance meets South Palm Desert.
    Apple Valley, CA 92308
    $510,000
    2004
    sqft
    2
    Baths
    4
    Beds
    LOCATION, LOCATION, LOCATION !!!! HERE YOU GO .
    Beaumont, CA 92223
    $629,900
    1634
    sqft
    2
    Baths
    3
    Beds
    Absolutely stunning single story on half-acre lot.
    Palm Springs, CA 92262
    $1,495,000
    2454
    sqft
    3
    Baths
    4
    Beds
    Built in 1959 and nestled within Racquet Club Estates in Palm Springs, CA, this Post and Beam home offers a timeless charm with a modern twist.
    La Quinta, CA 92253
    $2,150,000
    3905
    sqft
    5
    Baths
    4
    Beds
    Beautiful South Facing Contemporary Home overlooking the Norman Course at PGA West.
    Encino, CA 91316
    $299,900
    990
    sqft
    2
    Baths
    2
    Beds
    This is a 2 bedroom condo very close to freeway and shopping.
    Los Angeles, CA 90015
    $1,049,000
    1280
    sqft
    2
    Baths
    2
    Beds
    OWN YOUR VERY OWN PRIVATE OASIS in DTLA! Luxury living at its best with all the conveniences at your doorstep! Welcome to Ten50, a premier high-rise condominium in the highly sought after South Park D...
    Los Angeles, CA 90018
    $1,150,000
    760
    sqft
    1
    Baths
    2
    Beds
    We are pleased to present the opportunity to acquire this 6,963 SF lot Student Housing Development opportunity located at 1443 W.
    3810
    sqft
    5
    Baths
    3
    Beds
    Discover this coastal haven in the heart of Playa del Carmen where luxury meets serenity in a setting that is as rare as it is beautiful! This dreamy 2-story penthouse is nestled in "Oceana", ...
    Victorville, CA 92392
    $529,900
    2306
    sqft
    3
    Baths
    4
    Beds
    Location, Location, Location, Great opportunity!!This stunning 4- bedrooms, 2 1/2 bathrooms home built on 2022.
    West Hollywood, CA 90069
    $1,888,000
    1118
    sqft
    3
    Baths
    3
    Beds
    Prime West Hollywood Bungalow.
    Los Angeles, CA 90017
    $585,000
    1130
    sqft
    2
    Baths
    1
    Beds
    Welcome to luxury living at 1234 Wilshire Boulevard, Unit 527, in the heart of Los Angeles.
    Fresno, CA 93728
    $319,950
    1340
    sqft
    2
    Baths
    3
    Beds
    This charming Tudor home is in excellent condition with many upgrades including freshly painted interior and will not last long.
    Chula Vista, CA 91913
    $1,599,000
    4118
    sqft
    6
    Baths
    5
    Beds
    Stunning 5-bedroom, 5.
    San Diego, CA 92104
    $599,000
    872
    sqft
    1
    Baths
    2
    Beds
    Rare end unit recently updated in a gated 12-unit complex in bustling North Park.
    Hemet, CA 92544
    $229,000
    720
    sqft
    1
    Baths
    2
    Beds
    ALL AGE! Nice property in East Hemet California.
    Hemet, CA 92545
    $365,000
    1230
    sqft
    2
    Baths
    2
    Beds
    This adorable 2-bedroom home in West Hemet is ready and waiting for you! Spacious living room, separate dining area kitchen has been updated with granite counter tops and an attractive backsplash.
    Hollister, CA 95023
    $499,000
    975
    sqft
    1
    Baths
    2
    Beds
    Experience the pinnacle of modern urban living in the heart of downtown Hollister.
    Los Angeles, CA 90049
    $25,500,000
    9690
    sqft
    13
    Baths
    7
    Beds
    Introducing 414 South Cliffwood Avenue, an elegant estate set on over half an acre of impeccably manicured grounds in Brentwood.


    ​​​​​​​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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