Market Update on Balboa Island | Homes for Sale on Balboa Island
Balboa Island in Newport Beach is actually three islands in Newport Beach and the islands include the main island, the little island and Collins Island. Collins Island in Newport Beach is a gated community and has only 8 homes located on it, and these homes on Collins Island have incredible views of Newport Harbor. Balboa Island is a highly sought after area of Newport Beach. People move to Balboa Island because of the lifestyle. Balboa Island is a beautiful area of Newport Beach and unique charm, with close proximity to Fashion Island in Newport Beach, and take the ferry across to the Balboa Peninsula to visit the beach.
Closed sales for past year has an average sales price of $2,193,144 and a price per square foot of $866.58.
11 active listings
5 back up listings
0 pending sale
11 active listings compared to 17 in November, 2012
5 back up listings compared to 4 in November, 2012
0 pending listings compared to 0 in November, 2012
4 sold listings compared to 1 in November, 2012
Looking at the trends for the past one year on Balboa Island in Newport Beach, the month with the highest sale was in November, 2012, and that was the only sale that month. The highest price per square foot was in October with a price per square foot of over $1,000.00.
Past months market reports below.
March, 2012 Market Report
February, 2012 Market Report
January, 2012 Market Report
December, 2011 Market Report
In general, Balboa Island is showing a sellers market with the absorption rate. This has shown a steady decline since January, 2012. This trend is showing a strong seller’s market in Newport Beach. There is still also a very low absorption rate.
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