Balboa Peninsula is a highly sought after area in Newport Beach with bay front as well as ocean front homes and condos for sale. There are both Newport Beach condos for sale, and Newport Beach single family homes as well. The Balboa Peninsula in Newport Beach is a great place to reside in Newport Beach. The residents on the Balboa Peninsula live in this area for the lifestyle, as it is very easy to either walk to your destination, or to ride your bike to your Peninsula location. Enjoy shopping and dining on the Balboa Peninsula in Newport Beach.
There is a Pavillion’s grocery store at 32nd Street, in Newport Beach, Chipotle, and some boutique shops at 32nd Street. Also there are many restaurants including El Ranchito, and Ho Sum Bistro just to name a few.
Currently, there are 68 active listings on Balboa Peninsula in Newport Beach, 2 in back up status, 6 pending, and a total of 8 sales in the month of February.
There are 58 single family active listings, 2 back up, 6 pending, and 6 sales.
RE: the condo market on the Balboa Peninsula, 10 are active listings, and 2 of the sales were condos in February.
The average price of homes that sold during the month of February is $3,214,800.
68 Active listings compared to 68 in January, 2012 – the same
2 Back up listing compared to 3 in January, 2012 -1
6 Pending sales compared to 5 in January, 2012 +1
6 Sales compared to 2 in January, 2012, +4
The absorption rate remains high on Balboa Peninsula in Newport Beach, however it is trending down from last month. Last month (January, 2012) the three month absorption rate was 18.5 months, and in February, 2012 it is now 15 months. Homes are selling.
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