Balboa Island Market Update | February, 2013

by Sharon Paxson on March 25, 2013 · 0 comments

Market Update on Balboa Island | February, 2013 | Homes for Sale on Balboa Island

Balboa Island in Newport Beach

Balboa Island in Newport Beach is a highly sought after area in which is comprised of 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.

In general, Balboa Island is showing a stable market trending towards a sellers market with the absorption rate. Currently the inventory is as follows for February, 2013.

12 active listings compared to 7 in January, 2013
4 back up listings compared to 2 in January, 2013
5  pending sale compared to 0 in January, 2013
3 sales compared to 3 sales in January, 2013

The average sales price for the past one year is $1,840,000 and a price per square foot of $924.08 and a median price of$1,925,000 and a median price per square foot of $924.08.

There were a total of 2 short sales in the past one year on Balboa Island Homes for sale.

Past months market reports below.

February, 2013
January, 2013
December, 2012
November, 2012
October, 2012
September, 2012
August, 2012
July, 2012
July, 2012
June, 2012
May, 2012
April, 2012
March, 2012 Market Report
February, 2012 Market Report
January, 2012 Market Report
December, 2011 Market Report 

This trend is showing a strong seller’s market in Newport Beach.  The number of listings did increase from prior month.There is still also a very low absorption rate.

Homes for sale on Balboa Island

Search the MLS for Balboa Island homes for sale, and Newport Beach real estate for sale, and bayfront homes for sale in Newport Beach.

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Sharon Paxson

I write about my passion of living the SoCal lifestyle in beautiful Newport Beach. I like to write about the local events, beaches, restaurants, and real estate updates in the area. Call or text me - 949.280.0681

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